Morgan Stanley Unit Considers $150 Billion Bitcoin Investment: Bloomberg

[heavyiron]

That's 100x what Tesla bought. Imagine the impact on the market.

https://www.coindesk.com/morgan-stanley-unit-considers-150-billion-bitcoin-investment-bloomberg

Morgan Stanley already has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy.

Morgan Stanley’s Counterpoint Global investment unit is considering placing a $150 billion bet on bitcoin, according to a report by Bloomberg, which cited people familiar with the matter.


Analysts at Morgan Stanley say bitcoin (BTC, +0.11%) has potential to strongly compete with the dollar, but acknowledge in a recent report that the more investors "hold" bitcoin, the weaker its appeal to be used as a currency becomes.

 

[heckler7]

pump n dump? you think they are trolling elon and reddit users

 

[HFO3]

pump n dump? you think they are trolling elon and reddit users

I hope not bro. Honestly, I don't think they have what it takes to pump and dump BTC. The global masses as well as the global illegal monies are both heavily invested in BTC and at this point BTC seems to be the viable option for crypto payment acceptance to institutions

any other thoughts

 

[Big Joe]

So is it worth grabbing?

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[Multislacking]

At some point in time, the govt/central bankers have to step in...no? How long before it is taxed, regulated, etc?

 

[Drugsgear]

Cryptocurrency has stood the test of time and more and more skeptical people are beginning to accept cryptocurrency as a tool for investment. This is the technology of the future and it was only a matter of time before it was introduced into our lives. Even now, this is just the beginning.

 

[CastorTroy01]

Stocks on the watch list for me for this week are SI, MARA and RIOT. I don’t have the balls to straight up just buy the crypto and hang onto it so those are the next best thing...

 

[heavyiron]

I bought BTC, ETH, LTC and GRT. Long term holds and will likely do cost averaging as they move around.

 

[Multislacking]

Dumb, dumb, dumb question. I saw a chart, lost it, and can't find it again. How does BTC compare to M1? I remember the chart looking like they took identical climbs and dips.

 

[CastorTroy01]

I bought BTC, ETH, LTC and GRT. Long term holds and will likely do cost averaging as they move around.

Nice. RIOT and MARA are pretty much pegged to price of BTC if you look at the charts. SI is a little more insulated to I have the majority of my”Bitcoin Stock” money invested in that one just in case the price were to tank in the short term for some reason.

The pre-market activity is looking pretty this morning...

 

[CastorTroy01]

Dumb, dumb, dumb question. I saw a chart, lost it, and can't find it again. How does BTC compare to M1? I remember the chart looking like they took identical climbs and dips.

I’m actually not sure what M1 is. Is that like a lesser known cryptocurrency or something?

 

[Multislacking]

I’m actually not sure what M1 is. Is that like a lesser known cryptocurrency or something?

No...I tried finding a way to chart M1 or M2 against btc, and had zero luck. I was looking for an easy way out if someone else had it.

I'll let you google M1, rather than me try to explain it.

 

[CastorTroy01]

No...I tried finding a way to chart M1 or M2 against btc, and had zero luck. I was looking for an easy way out if someone else had it.

I'll let you google M1, rather than me try to explain it.

Thanks dude, all of those macroeconomic concepts are a little over my head but Cathie Wood with ARK Invest sort of touched on that subject about a week ago.

She didn’t make any mention of specific dollar amounts or percentages of overall money supply but made the claim that if 1% of the cash reserves held by the S&P 500 were invested in BTC it would raise the price of it by 40k.

 

[Multislacking]

Found it again! Does this look legit?

 

[HFO3]

Found it again! Does this look legit?

[h=2]M1[/h]Measure of the U.S. money stock that consists of currency held by the public, travelers checks, demand depositsand other checkable deposits including NOW (negotiable order of withdrawal) and ATS (automatic transfer service)account balances and share draft account balances at credit unions.



A measure of money supply used by various central banks that includes only currency in circulation and very near money instruments. In the Federal Reserve System, M1 includes all physical currency and deposits in checking accounts as well as Negotiable Orders Withdrawal accounts. It does not include savings accounts, certificates of deposit, or money market accounts. The European Central Bank defines M1 as the aggregation currency incirculation and overnight deposits. While different central banks have slightly different definitions of M1, all includemoney currently in circulation and the money most likely to come into circulation in the shortest possible amount oftime. Therefore, it is the most liquid calculation of the money supply. See also: M0, M2, M3, M4.

 

[CastorTroy01]

Found it again! Does this look legit?

I’m on my iPhone using safari so I can’t see the pic you attached right now. I’ll check it out when I get to my desktop in the am though.

 

[Multislacking]

M1

Measure of the U.S. money stock that consists of currency held by the public, travelers checks, demand depositsand other checkable deposits including NOW (negotiable order of withdrawal) and ATS (automatic transfer service)account balances and share draft account balances at credit unions.



A measure of money supply used by various central banks that includes only currency in circulation and very near money instruments. In the Federal Reserve System, M1 includes all physical currency and deposits in checking accounts as well as Negotiable Orders Withdrawal accounts. It does not include savings accounts, certificates of deposit, or money market accounts. The European Central Bank defines M1 as the aggregation currency incirculation and overnight deposits. While different central banks have slightly different definitions of M1, all includemoney currently in circulation and the money most likely to come into circulation in the shortest possible amount oftime. Therefore, it is the most liquid calculation of the money supply. See also: M0, M2, M3, M4.

So what's your take on it? Does "liquid" M1 cash-on-hand actually run in sync with BTC? I mean, if that chart is legit...then something is up.

 

[HFO3]

So what's your take on it? Does "liquid" M1 cash-on-hand actually run in sync with BTC? I mean, if that chart is legit...then something is up.

I dont have an opinion on the topic since i just heard of M1 from your post. Whats yours?

 

[Multislacking]

I dont have an opinion on the topic since i just heard of M1 from your post. Whats yours?

Unfortunately, I'm not an economics major or a btc expert. But you don't have to be to realize something is up if that chart is accurate. Someone might be able to make the argument that as people have more liquid assets/cash, they can invest more in btc, driving the price up. But why wouldn't the price of everything else go up accordingly? That's over simplifying, but you know what I mean. I think it shows that btc is being regulated/manipulated as much as anything else is. I mean, we're literally back at square one...whatever happens to the US dollar, happens to btc in real time. Wasn't the major point of cryptocurrency to untether ourselves from fiat money? I guess I just don't understand.

 

[CastorTroy01]

Unfortunately, I'm not an economics major or a btc expert. But you don't have to be to realize something is up if that chart is accurate. Someone might be able to make the argument that as people have more liquid assets/cash, they can invest more in btc, driving the price up. But why wouldn't the price of everything else go up accordingly? That's over simplifying, but you know what I mean. I think it shows that btc is being regulated/manipulated as much as anything else is. I mean, we're literally back at square one...whatever happens to the US dollar, happens to btc in real time. Wasn't the major point of cryptocurrency to untether ourselves from fiat money? I guess I just don't understand.

The idea behind BTC at the moment is that inflation will drive companies with very large cash reserves on their balance to look to replace their cash reserves with something shielded by inflation (ie. gold or BTC). If the supply of money is increased, the value of money goes down, and right now we are passing humungous stimulus packages and Janet Yellen is encouraging all of the G20 member states to do the same.

Needless to say, it's not hard to see that money supply is increasing, in part to encourage inflation. The common consensus that I've read lately is that BTC is basically competing with gold as the inflation shielding commodity. Since large institutions are adopting that mentality, and investing portions of their cash reserves the commodity, it's driving the price up.

But like you said, wouldn't the price of everything else go up to? Yes, and it is, that's why all of the major indexes are shattering records almost every week. A lot of the stimulus money is making it's way into brokerage accounts.

 

[Multislacking]

That's kind of what I'm questioning though. How "shielded from inflation" is btc really...if it is in lock step with M1? To me...it just seems like another dollar, yen, euro, etc to be manipulated. I do understand there is a "finite" amount of btc, like there is a "finite" amount of gold...at least, that's the premise.

 

[CastorTroy01]

Yeah it’s definitely speculative, it is supposed to be shielded from inflation but all it takes for that change is a barrage of unfavorable opinion pieces and voila, it’s not worth anything anymore.

At the end of the day it’s really all a bunch of bullshit lol, gold and “money” included. It’s just worth whatever people say it is.

 

[HFO3]

Look at the market cap

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[Arnold]

It's insane.

 

[randy4me]

Coinbase is going public with an IPO. It will probably go bonkers.

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[randy4me]

Nice. RIOT and MARA are pretty much pegged to price of BTC if you look at the charts. SI is a little more insulated to I have the majority of my”Bitcoin Stock” money invested in that one just in case the price were to tank in the short term for some reason.

The pre-market activity is looking pretty this morning...

RIOT and MARA are trading like ETF's. They are are definitely not worth their market cap.

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[CastorTroy01]

RIOT and MARA are trading like ETF's. They are are definitely not worth their market cap.

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I’m all about riding that wave though. So long as BTC is going up, RIOT will go up. The one potential advantage of holding RIOT is that since BTC trades 24 hours/day you should be able to see a drop in RIOT before the market opens and get rid of it before hours before you lose all your gains so long as you’re on the ball.

I stopped worrying about market cap and PE ratios a while ago. For fucks sake just look at Tesla. Not to say that you shouldn’t pay attention to it, but at this point it’s not a very strong indicator of which direction a stock price will go.

 

[CastorTroy01]

It's insane.

Lol I’m assuming that a lot of the sources on here have some hefty Bitcoin wallets. It’s a great time to be a clandestine online retailer.

I’m a little jealous haha.

 

[randy4me]

You are absolutely right. I have been watching them since they were below $5 and never bought in. If you wait for a big dip then you can't go wrong.

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[CastorTroy01]

You are absolutely right. I have been watching them since they were below $5 and never bought in. If you wait for a big dip then you can't go wrong.

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Ugh yeah that’s always the kicker. 20/20 hindsight man. Last year I spotted GEVO on the top gainer list of yahoo finance and was about to put a little into it and everyone said “don’t put any money into that, it’s a fuckin penny stock”.

It’s gone up like 1300% since...