Plan B, institutional investor and creator of the Bitcoin Stock-to-Flow valuation model:The big difference with 2017 is that most BTC sold today will never see the daylight again, they disappear into deep cold storage. Buyers today are professionals with long term vision and staying power.What do you all make of this? Never being a slight exaggeration, I think he's mostly referring to the timeframe and goals corporates are adhering to. It took them a decade to get in, and it might take a century for some to take most of the profits.This has major implications for the sustainability and longevity of this bull run. There's still no retail FOMO whatsoever - take Google trends, mentions of Btc in the media or among normies at the office coffee machine in the mornings). Imo it will only kick in between 20-30K, and the correction afterwards will be a lot smaller than it used to be historically - due to the above-mentioned absorbing effect of these institutions.https://ift.tt/3flRcRu
Submitted November 19, 2020 at 08:04PM
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