EncryptaBULL @EncryptaBULL

"before they have options". I think, eventually, crypto options will surpass perps in CeFi AND DeFi, it's already happened with CeFi BTC OI but cannot yet happen with other assets because markets don't exist or are unviable but the flipping that no one is talking about is coming

Eric Balchunas @EricBalchunas

2 years ago

This is wild stat: there were more individual trades yesterday in the bitcoin ETFs than there were in $SPY or $QQQ. And this is before they have options and/or are available on many advisory platforms. Def a big retail component given size of trades. Bigger that I estimated.

56 188 1K 334K 86

JUST IN: 🇷🇺 Vladimir Putin says the US Government is killing the dollar with their own hands, many countries including major oil producers, are accepting payments for oil in Chinese yuan.

@CryptoCon_ Awesome content sir, much appreciated.

@cryptojack Degen derivatives traders discovering options, and options platforms finally booming.

@dylanleclair For the crypto-native read-little react-fast folks, Exchange Traded Fund paints a picture of trading but as you quite rightly point out, an ETF is a holder vehicle. Its thanks to folks like you we get great snapshots like this - appreciate the efforts from those such as yourself.

Talk of ETF approval misses the forest for the trees. It's not just about immediate reactions or flows It's about the recognition of $BTC as an institutional asset. Pensions, endowments, insurance investment portfolios, etc., will soon be entering the arena with passive buy-side flows for the long term. In December 2020, Mass Mutual invested $100m into bitcoin. tinyurl.com/27ctpdd6 MASSIVE.... except not really. Mass Mutual manage $235b in assets, with long-dated fiat liabilities. tinyurl.com/yz3b4hpn $100m of $BTC is a ~0.05% allocation... Large institutional investors don't purchase something to flip it the next month. They are constructing portfolios for multiple decades. A 0.05% allocation is just the start. There are many more many more Mass Mutuals out there, and all of these allocators are staring at their bond portfolio which is -50% from ATHs, questioning previous assumptions they held. The endorsement by the likes of Larry Fink isn't a sign that Larry is suddenly a bitcoin bull, it's a sign that clients are knocking on BlackRock's door, asking for a vehicle to gain exposure. The narrative violations are strong. Passive accumulation starting from the $69k ATH has you +45% right now on your bitcoin position. The same passive allocation into long bonds has you -12%. "But the volatility!" Again, it's a misunderstanding of time horizon. A ~1% allocation to an asset that they don't plan to liquidate for years/decades, with an extremely strong sharpe ratio, is within their risk profile. If you want proof, just look at the rest of their portfolio... - No, the orange coin is not going away. - No, it did not die when FTX collapsed. - Yes, supply is more tightly held than ever before. - Yes, perpetual credit expansion of the fiat monetary system is an ongoing reality. - No, there is no sense of fiscal austerity present ANYWHERE. - Yes, this illiquidity means marginal flows into the market sends the price higher, which is why all of these institutions will start with a tiny ~0.05% stake, while continuing to passively allocate steadily for the long-term. Reinforcing this all is the shift in narrative and negative bias around 'energy usage' and mining, evidenced by new academic papers on mining as a tool for balancing the grid and monetizing waste energy: - Bitcoin could support renewable energy development, Cornell Engineering, news.cornell.edu/stories/2023/1… - Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency, Co-authored by former ERCOT CEO, papers.ssrn.com/sol3/papers.cf… - From Mining to Mitigation: How Bitcoin Can Support Renewable Energy Development and Climate Action, ACS Sustainable Chemistry & Engineering, resistance.money/research/minin… The landscape and profile of the asset has shifted. It's not about the ETF, it's about the reason WHY the ETF is coming. Institutional exposure has been given a green light. It won't happen all at once, but understand the shift that is underway. Bitcoin has been passively accumulated by individuals and retail for sometime now, while institutions mostly watched the madness from the sideline. This is changing. Welcome.

keyboard_arrow_left Previous keyboard_arrow_right Next

@thuydiemnn @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@YenTatooLeYen @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@elvie3193 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@levispham2 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@nguyenthuthuy90 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@thanhhoai91 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@lelylanhuong @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this...

@hoavouuy @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this... you guys are keen! Good on you 😁 Interesting project

@thanhthaospa @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this... you guys are keen! Good on you 😁 Interesting project

@nguyennhu2908 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this... you guys are keen! Good on you 😁 Interesting project

@thanhhoai91 @Bitcoinvendapp It says questions to be submitted later today guys... at 4PM UTC, I think BitcoinVend will make a new thread for this... you guys are keen! Good on you 😁 Interesting project

CFTC Chairman Giancarlo: “We owe it this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.”

The People's Bank of China released a statement saying that all ICO's should be stopped immediately. $ETH #Bitcoin pbc.gov.cn/goutongjiaoliu…

China's Regulators Consider Suspending All ICOs. #bitcoin #blockchain $crypto bit.ly/2vnGLcm