Caitlin Ostroff
speaker
128 appearances
2 recordings
1 series
first heard Feb 2021
last heard Mar 2024
Caitlin Ostroff’s voice in public audio — every appearance, attributed to the second.
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Appearances
And so even though you have days where Bitcoin can go up $5,000, you also have days where it can lose 50% of its value.
Yeah, so the current rally is really driven by, we've seen a lot of companies that have started putting their faith in Bitcoin and saying, we're going to start holding a little bit of it.
We've seen institutional investors and asset managers say, you know, Bitcoin's been around for
you know, more than 10 years now, we think that it could actually have a use case in portfolios.
And so we're going to get exposure to Bitcoin if not buy it outright.
And you've also had, you know, just trading platforms and also just general apps like Cash App say we're going to let people actually hold and use cryptocurrencies as well.
And so you've seen the adoption of it kind of in a broad area of uses just become more and more common.
The supply is finite.
The only amount of Bitcoin that can ever exist is 21 million in the current design.
And because of that, as it's gotten more valuable, as more people have wanted to buy Bitcoin, you've seen a lot of companies, a lot of platforms really try to step up efforts to what's called mine Bitcoin.
And so they're basically just solving these complex mathematical puzzles to unlock more.
But the amount of Bitcoin that's going to be released is finite and it will slow down over time because only X amount of Bitcoin might be released in a given part of what's called the blockchain or in a given month.
A lot.
Bitcoin shot up several thousand dollars in valuation after Tesla announced that they had added 1.5 billion in Bitcoin to their corporate treasury.
Tesla's not the only corporation that's added Bitcoin to their treasury, but they are by far one of the largest, if not the largest.
Elon Musk also being a heavy proponent of cryptocurrencies generally, but just having the following that he does as CEO of Tesla,
really has drawn a lot of focus to Bitcoin that's encouraged some people to start buying who maybe hadn't been involved before.
It's extremely significant.
You know, banks tend to be somewhat conservative in what they let clients gain exposure to and what risk they have.
And so for them to be saying, you know, we're going to actually let clients start holding cryptocurrencies and start expanding their operations there is kind of a signal that we could see other banks start to move this way.
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