BTC supply shortage this weekend?

Crypto exchange and trading company eToro just warned its customer base there might not be enough Bitcoin in circulation to meet expected BUY orders this weekend:

“The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support BUY orders over the weekend,” the Israeli-British company said in an email to customers. “In light of this, it may be necessary for us to place limitations on crypto BUY orders over the weekend.”

That’s because institutions have been purchasing throughout the now-ending consolidation. And we still haven’t encountered the wall of institutional investors poised to enter over this first half of 2021.

Number go up. Not having some exposure is more risky than having exposure.

https://www.bloomberg.com/news/articles/2021-01-13/bitcoin-btc-usd-etoro-warns-investors-it-may-limit-buy-orders-this-weekend?

So it was all fine until this statement:

Number go up. Not having some exposure is more risky than having exposure.

So you don’t lose money by not having a long position.  That never happens.  There are no “called strikes.”  I mean, unless you’re predicting an imminent banking system failure, where the cash simply vanishes.

Maybe you meant something else?

My bad.

I was thinking of a recent analysis from PlanB, covered by Cryptoglobe. He argues that 1-2% in BTC, and 98-99% in cash beats the S&P.

And this from SeekingAlpha, urging as much as 20% in BTC, replacing that much gold.

My intended point was that everyone should own some BTC, at a minimum as a hedge, but also for real returns growth, in our increasingly difficult investment climate.

With available BTC shrinking, every satoshi purchased now has increased upside potential – as soon as this weekend.

VTGothic and you other cryptophiles,

In the Raoul Pal interview with the financial advisor posted yesterday here, the adviser mentioned that several other (not BTC) cryptos solve specific problems that BTC did not solve.

Can anyone point me to a small list of alternative cryptos and the specific issue that they solve?

He mentions that everyone admires Microsoft Excel, but before that it was Lotus 123.  The first generation innovation is not always the one that sweeps the world.  (Though first mover effect and market share are powerful effects, too.)

https://summit.news/2021/01/13/ecb-head-christine-lagarde-calls-for-global-regulation-of-reprehensible-bitcoin/

The former head of the IMF, who was previously found guilty of financial negligence by a French court over a €403 million arbitration deal in favor of businessman Bernard Tapie, went on to accuse Bitcoin of being heavily embroiled in criminal activity.

“(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde.
The ECB head went on to call for Bitcoin to be regulated by financial authorities.

“There has to be regulation. This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she said.

The criminals view it as criminal.

Yes.  Legarde will ask you to “regulate” bitcoin “for the children.”  Along with strong encryption.  It all needs a backdoor for government.

Certainly no US dollars have ever been used for money laundering.

Perish the thought.

And when they are, well, people get fined.  And then the laundering continues.

But – this is how it starts.

I am guessing that the $2 Trillion stimulus package that is going to be announced by Biden this evening (a rumor) is supporting crypto prices today.   With real inflation running 10%, it doesn’t seem like cash is as great an idea as it once was during these uncertain times.

Up 10% yesterday, 15% today.  Pretty soon you’re talking real price increases.

I don’t have time to go token by token as there are many but here is a site which gives a rundown on coins and ranks them on safety etc. A good place to start.

https://cointobuy.io/

Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

I don’t know how you can increase the money supply by over 20% and have 10% “real inflation” I think as has been stated here inflation is running rampant in the stock market.

Hi Sand Puppy-

This might also be of interest to you (and others).  Mike Maloney put out a 2-part video on 1/7/21 “Bitcoin: Is It Too Late?”at https://goldsilver.com/blog/bitcoin-is-it-too-late/ (sorry if already posted elsewhere).  What I think would be of specific interest to you is that Mike talks about a couple of other cryptos he’s invested in besides bitcoin.  I believe one of them was EOS, but I’d have to listen to it again to be sure.  Here’s the summary they put out along with the videos:

“Bitcoin has just hit an all-time-high price, and our support desk has been inundated with questions from customers asking what Mike Maloney makes of this. In response, Mike has recorded two in-depth videos that answer the questions we are seeing the most: Is it too late to participate? Can Bitcoin go to zero? What other cryptocurrencies does Mike own? What is his strategy? All that and more in today’s double Bitcoin feature. Enjoy.”

(Edit: Mike starts talking about cryptos he owns in addition to Bitcoin in Part 2 at 9:40+).