Grayscale holds 2.6% of available Bitcoin

[Specterx]

This is the most stupid remark ever made on ET. You are even beating Trump.

Each day billions of people and companies used internet. Without internet the US economy would crash within a few days.
Ban Bitcoin and the only thing that will change is that the scam stops. Our economy doesn't need bitcoins at all.
If they would a poll: ban toilet paper or bitcoins. The answer would definitely be ban bitcoins.

I agree 100% on the fundamentals, but the fact is we're in the world of ZIRP/NIRP forever, huge and growing mountains of cash seeking any escape from the black hole of negative real rates, and now the new breed of Robinhood / Davey Day Trader / wallstreetbets gambler-speculators.

At this point anything which can be traded is a potential vehicle for speculation, and IMO this phase will last much longer and go much further than past bubbles. BTC and other digital assets will be central to it.

 

[Sprout]

In a few short years Grayscale has positioned itself as the largest custodial holder of Bitcoin - 2.6% of all available Bitcoin and growing daily. For the past many months they have been regularly purchasing more than what is being mined.

For all of the anti Central Bank hoopla out there Grayscale has become a defacto bank paying a negative 2% deposit fee for those unwilling or incapable of managing a wallet.

In the securities industry if an entity owns 5% of an company there is a 13(d) filing. Does not apply to crypto but that rule is there for a reason.The way things are going Grayscale will be approaching 5% of available Bitcoin before we know it.

Thoughts? @johnarb @Sprout @Trader Curt

Amazing and scary

BTC has the most distributed liquidity, I don't see it as an issue.

Compare with ETH

or third largest by marketcap USDT

 

[They]

This is the most stupid remark ever made on ET. You are even beating Trump.

Each day billions of people and companies used internet. Without internet the US economy would crash within a few days.
Ban Bitcoin and the only thing that will change is that the scam stops. Our economy doesn't need bitcoins at all.
If they would a poll: ban toilet paper or bitcoins. The answer would definitely be ban bitcoins.

Your statement regarding bitcoin's need and survival was referenced in centuries. Changing the context to only modern times (post internet) shows a lack of linear thinking.

Yes, a large portion of the world does not need bitcoin and yet most governments are working on a digital currency and a large portion of the world does need or use toilet paper to clean their ass and thus would rather have bitcoin.

Polarized absolutism at its finest.

 

[Trader Curt]

This is the most stupid remark ever made on ET. You are even beating Trump.

Each day billions of people and companies used internet. Without internet the US economy would crash within a few days.
Ban Bitcoin and the only thing that will change is that the scam stops. Our economy doesn't need bitcoins at all.
If they would a poll: ban toilet paper or bitcoins. The answer would definitely be ban bitcoins.

Yeah dude your post makes 0 sense. We have done just fine without the internet before the 90s. With investors still being able to trade over the phone and businesses still being able to profit. We also have done just fine without an economy from when adam and eve existed, or if you believe in evolution then from the time we were monkies.

Our economy doesn't need Bitcoin you are right about that, but that doesn't mean there is no place for Bitcoin.

So you calling someone an idiot is worthless since you have no idea what you're even talking about. And I will not argue with you because that would be like trying to pick a fight with a retard. Have a great day...

 

[virtusa]

Yeah dude your post makes 0 sense. We have done just fine without the internet before the 90s. With investors still being able to trade over the phone and businesses still being able to profit. We also have done just fine without an economy from when adam and eve existed, or if you believe in evolution then from the time we were monkies.

Our economy doesn't need Bitcoin you are right about that, but that doesn't mean there is no place for Bitcoin.

So you calling someone an idiot is worthless since you have no idea what you're even talking about. And I will not argue with you because that would be like trying to pick a fight with a retard. Have a great day...

Without internet you wouldn't even be able to work with Bitcoins and Bitcoin wouldn't even exist.
You clearly have no clue how blockchains works.

ROFLMAO.

I agree that arguing with you would be like trying to pick a fight with a retard.
Going back to the time of Adam and Eve would probably mean that half of the world population would by now be death because of Covid-19. We wouldnt't have doctors, hospitals or medication. We are lucky that we did not depend of your "intelligence" because we would still be in the stone age.

Are you another alias of Trump?

 

[Trader Curt]

Without internet you wouldn't even be able to work with Bitcoins and Bitcoin wouldn't even exist.
You clearly have no clue how blockchains works.

ROFLMAO.

I agree that arguing with you would be like trying to pick a fight with a retard.
Going back to the time of Adam and Eve would probably mean that half of the world population would by now be death because of Covid-19. We wouldnt't have doctors, hospitals or medication. We are lucky that we did not depend of your "intelligence" because we would still be in the stone age.

Are you another alias of Trump?

 

[wootspurser]

Guess that is pretty amazing and frightful at the same time. Let’s see what happens in the future.

 

[Launcepeter]

As per my understanding, bitcoin obviously has a bright future. But that doesn’t mean that it will take the place of fiat currency ever.

 

[Pekelo]

As per my understanding, bitcoin obviously has a bright future.

Why is it obviously?