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RE: At some point all the big Macro Funds will have a 1% position in Bitcoin
Yes, the hedge funds would like a position.
However, i doubt they will buy it on the exchanges.
Too small, too slow, and in many cases, illegal.
So, if they are buying, they are buying OTC.
And so, even if they do own those positions, no one really knows about them.
Further, like real quantities of gold, the price of quantities of bitcoin are much different then the exchange prices.
The dollars per bitcoin, on the exchanges are severely limited. The exchanges don't have enough dollars in them, nor enough bitcoin in them. The doorway in and out is way too small.
It is that doorway that we should keep an eye on.
There is probably some truth to this. Though that means that if some demand comes in on the exchanges it won't take much to sky rocket prices.