It's hilarious when you see the headlines. I've seen a number of people on Twitter comparing TradFi headlines about Bitcoin being "garbage, scam, shitcoin" only 1-2 years ago to today where they are praising Bitcoin with the likes of FED Chairmen Powell saying he thinks it has "staying power" in the world of Finance.
They are all against you... until they are on your side.
This tweet was a joke but with the current headlines, it's believable. That's how much of a 180 these TradFi giants have taken.
I wasn't even surprised to see it. I was actually surprised he didn't say it and it was all a joke.
What Comes Next?
All of TradFi wants a piece of the action now. Blackrock has bought up a massive position in Bitcoin miners as well as Microstrategy. They managed to position themselves as a massive bneeficiary of any positive news and applications in the crypto space.
Then they filed a motion for a Bitcoin ETF.
Shouldn't there be some rules against that? Like insider trading?
Bah, we're talking about the world's largest asset manager with Trillions under management.
The only rule is that there are no rules.
Positive News Cycle and BTC Dominance
Bitcoin is up to $30k and BTC Dominance is approaching a major high. It's been incredible to watch.
This goes to show that altcoins have gotten totally beaten and battered. We still haven't seen much of a recovery on their part.
After being in crypto for a few cycles, I can tell you first hand that the altcoins usually trend at some point after Bitcoin. they lag behind.
This is all normal. Maybe a good time to pick up a few alts. I am still sitting in a massive BTC core position and have been dollar cost averaging into both BTC and a number of other alts.
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