I guess I'm not super surprised coinbase keeps on surprising and of course that makes absolutely no sense, but I know you understood me just fine. No matter how much FUD gets spilled out there, it's as if Coinbase is crypto's honey badger or something.
The bear market has been raining on absolutely everyone's parade, but it seems like Coinbase has structured themselves in a way that thriving even when prices have plunged 85%+ is not an impossible feat.
The other important thing to point out here is that what this move symbolizes, that is the creation of OTC services is that the almost meme like idea that "institutions are coming" is not a joke at all.
You may think that Coinbase deserves to be bunched up with the Paypals of the world, and I would not blame you for thinking this way, but we can't deny they are leading with the torch in front, and all the other off/on ramps are simply playing catch up at this point in time.
The kind of money we are talking about dwarfs the biggest of whales we might think about, when we think "crypto rich" in a sense. For this type of purchasing, for this volume, going through an exchange is simply not an option. The consequence of such purchase walls would drive up the prices uncontrollably, arguably causing a lot of problems, and I do mean arguably. (some lucky ones would make money)
In other words my friends... patience is key....
The other important thing to point out here is that what this move symbolizes, that is the creation of OTC services is that the almost meme like idea that "institutions are coming" is not a joke at all.
You may think that Coinbase deserves to be bunched up with the Paypals of the world, and I would not blame you for thinking this way, but we can't deny they are leading with the torch in front, and all the other off/on ramps are simply playing catch up at this point in time.
What is OTC you ask?
Over the counter buys, and what does that mean? Well, you see when retail investors like us want crypto, we go to exchanges, we upload our picture id (sometimes), connect our Bank accounts and what have you, and get limited with daily or weekly roofs, but Institutions play a whole different ball game.The kind of money we are talking about dwarfs the biggest of whales we might think about, when we think "crypto rich" in a sense. For this type of purchasing, for this volume, going through an exchange is simply not an option. The consequence of such purchase walls would drive up the prices uncontrollably, arguably causing a lot of problems, and I do mean arguably. (some lucky ones would make money)
I fully expect
Next year to be a positive one for cryptos in general, when some legislative clarity begins to bare it's head, more and more money will start pouring into the space, and the whole craziness will start all over again, as it has so many times already.In other words my friends... patience is key....
