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RE: It's Official: "Long Bitcoin" Is The Most Crowded Trade On Wall Street
If everybody in Wall Street were long BTC prices would be 50x what they are now. Bitcoin is a very limited asset. They all think the other people in the room are the suckers hahaha. Saludos Taskmaster!
It's a fact many hedge funds are long Bitcoin. It's a big reason it's up from under $1000 earlier this year
I agree it's not everyone but to say none are otherwise it would be 50x higher is just foolish. It's up 40,000.00 x since 2011
It is overvalued given a better crypto could easily take its market share lead.
Bitcoin at $200K....well that isnt the most outlandish projection delivered in the past couple months.
The more I analyze the potential here, the more I keep coming back to the same point: BTC has a lot of room to run. Store of value versus gold, money versus currency markets, app on a platform like FB and AMZN...total market cap versus other investements....it all leads to tremendous growth.
Unless, of course, it completely collapses which isnt likely.