Keanu Reeves once said:
"I’m at the stage in life where I stay out of arguments. Even if you say 1+1=5, you’re right. Have fun."
Here are 9 things I learned from him:
MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per #bitcoin. As of 3/18/24, $MSTR hodls 214,246 $BTC acquired for ~$7.53B at average price of $35,160 per bitcoin. https://t.co/oeYJGgiuy0
MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per #bitcoin. As of 3/10/24, $MSTR hodls 205,000 $BTC acquired for ~$6.91B at average price of $33,706 per bitcoin. https://t.co/YayyKtpz8d
BlackRock has filed with the SEC that it will buy #Bitcoin ETFs for their own funds.
They have $10 Trillion in assets under management.
Another $20 Trillion of funds use their Aladdin platform to make portfolio allocations.
BlackRock has stated that the optimal Bitcoin allocation is 84.9% of a portfolio.
Of course, few will do this, but we now have the world's biggest fund manager telling investors to get off zero.
Ernst & Young estimates $200 Trillion of Institutional assets could not touch Bitcoin until an ETF was approved.
Well, now they can!
So what happens if they get off zero?
0.5% allocation from a pool of $200T is an enormous $1 Trillion.
The Bitcoin total market cap is $1.32 Trillion as I type this.
A multiplier of 5-10 could push the Bitcoin price to $600K-$1.2m.
It may take many years for that allocation to work its way into Bitcoin, but the potential is there for a significant re-rating.
Still early! 🤑