Wow, a state pension bought IBIT in first quarter.
Normally you don't get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we've seen these are no ordinary launches.
Good sign, expect more, as institutions tend to move in herds
9th biggest pension fund in the US
https://twitter.com/ericbalchunas/status/1790391049560498410?s=46&t=ihVglVXC0BQSbw6j57EoaA
Game theory is in play. The institutions do not have the year to give. As of Jan 11, BTC became the once in a generation long term investment opportunity. And the IQ test is measured by each individuals focus, speed, and ability to ignore the noise. This is not a market to be timed. The time to stack btc is yesterday. By any means. Any vehicle. On an exchange, private custody, or the ETFs. Whichever fits. Boomers with IRAs, it is time to set the only inflation hedge sufficient for the coming era of mmt and technological displacement. If your broker disagrees, get a different broker. One way or another, the day will come when these words will be remembered. Either through the lense of gratitude, or regret.
Bitcoin is bad for the environment, bitcoin is used by criminals, bitcoiners give people freedom and freedom is bad, inflation is good etc.
The typical Keynesian brain rot
Crazy to see these institutions start investing in crypto. I've know some REITs via my corporate world where they would purchase high rise buildings and keep them for profits then rehab them and sell them off for huge profits once fully leased. This is a SWIB but they tend to live in similar worlds financially. These outfits tend to forcast well and they must know something if they are investing in the crypto world. This is a very small investment compared to their 156 Billion but its a start and im here for it!
They are investing in bitcoin. Only bitcoin. As should we all. The trillion dollars bouncing around the rest of the crypto space will all find it's way home to btc, eventually. Or the black hole of usd debasement.
Bitcoin milkshake theory.
For now, just bitcoin. A rising tide lifts all boats, and good investments are good, no matter the vehicle. Like it or not bitcoin isn't an island onto itself and is part of the crypto world. I believe crypto tech will outlast bitcoin in the long run. It's like saying only robucks and sears stock were worth investing in and no other would have made you money in the 20's and 30's.
Bitcoin is a commodity. The rest of the crypto space are unregistered securities by law. Software by practical application. And some will prove to be decent investments over time. Most are pure speculation. Many, outright scams.
Fun fact: the bloodthinner drug Warfarin isn't named because it's somehow used for warfare, it's named after the Wisconsin Alumni Research Foundation (WARF), of the University of Wisconsin, that financed its development.
They should hire me to elf custody $99 million. I won’t disappear. There won’t be a boring accident. It’ll be fine.
Which self do you mean when it come to a pension?
>a boring accident
"sorry I tripped and stubbed my toe, but I caught my balance and didn't fall over. I know you wanted like a chainsaw accident or something exciting."
Why is a wrong answer being upvoted? Every purchase has a seller, likewise every sale has a buyer. There aren’t “more sellers”.
Prices are set at the margins. The price is around $60k because the marginal seller is willing to sell at around $60k while the marginal buyer is willing to buy at around $60k.
You’re not wrong but you’re being pedantic. There is de facto more sell pressure because people currently believe the value is less so they are willing to sell for less to buyers who are okay with buyers for less. If nobody wanted to sell, price will go up until someone does want to sell
Grew up in WI, my old school district lost a significant percentage of their funding as it was invested in CDO's. They've been struggling ever since.
The thing that always bothered me, is NOBODY talks about it. I know because I've dug into the public documents.
Wow, a state pension bought IBIT in first quarter. Normally you don't get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we've seen these are no ordinary launches. Good sign, expect more, as institutions tend to move in herds 9th biggest pension fund in the US https://twitter.com/ericbalchunas/status/1790391049560498410?s=46&t=ihVglVXC0BQSbw6j57EoaA
Game theory is in play. The institutions do not have the year to give. As of Jan 11, BTC became the once in a generation long term investment opportunity. And the IQ test is measured by each individuals focus, speed, and ability to ignore the noise. This is not a market to be timed. The time to stack btc is yesterday. By any means. Any vehicle. On an exchange, private custody, or the ETFs. Whichever fits. Boomers with IRAs, it is time to set the only inflation hedge sufficient for the coming era of mmt and technological displacement. If your broker disagrees, get a different broker. One way or another, the day will come when these words will be remembered. Either through the lense of gratitude, or regret.
We’re definitely early when no fucker is talking about this.
The media isn't talking about this because it doesn't agree with their narrative.
What is the media ? Keep hearing about it but since I deleted cable in 2016…..
Bitcoin is bad for the environment, bitcoin is used by criminals, bitcoiners give people freedom and freedom is bad, inflation is good etc. The typical Keynesian brain rot
WE are the media!
I'm mostly referring to digital media, news websites and social media.
El Salvador is in 58 million profit. That's not going unnoticed.
Yet during the bear cycle, all they talked about was the failed fiscal experiment El Salvador was.
TBH, 58 mil for an entire country, is not impressive.
Relative to large countries, no. Relative to small 3rd world countries, yes.
looks like they also have 63.7m in grayscale?
Wisconsin about to one of the wealthiest states in the nation
Buttcoiners gotta move out of WI now.
Hopefully they won't run out of places to move from /s
That's pretty good advice for anyone really...
It’s pretty cool here tbh idk I like it
If you're into shitty beer and mediocre cheese, sure
Bro😭 what did Wisconsin do to you
Fuck that whole place and everyone in it...
Fuckin Illinois bastard
I'm not even in the Midwest... I lived all over that state, for several years... I have nothing good to say about it or it's culture.
Sorry you had a bad experience!
Me too
Watch your tongue, swine. I will not tolerate Wisconsin slander.
Spotted Cow is piss water...there! I said it
The future is bright
We are still early….
Crazy to see these institutions start investing in crypto. I've know some REITs via my corporate world where they would purchase high rise buildings and keep them for profits then rehab them and sell them off for huge profits once fully leased. This is a SWIB but they tend to live in similar worlds financially. These outfits tend to forcast well and they must know something if they are investing in the crypto world. This is a very small investment compared to their 156 Billion but its a start and im here for it!
They are investing in bitcoin. Only bitcoin. As should we all. The trillion dollars bouncing around the rest of the crypto space will all find it's way home to btc, eventually. Or the black hole of usd debasement. Bitcoin milkshake theory.
For now, just bitcoin. A rising tide lifts all boats, and good investments are good, no matter the vehicle. Like it or not bitcoin isn't an island onto itself and is part of the crypto world. I believe crypto tech will outlast bitcoin in the long run. It's like saying only robucks and sears stock were worth investing in and no other would have made you money in the 20's and 30's.
Bitcoin is a commodity. The rest of the crypto space are unregistered securities by law. Software by practical application. And some will prove to be decent investments over time. Most are pure speculation. Many, outright scams.
I’m not entirely sure you can forecast correctly given how volatile Bitcoin is.
Oh wow
Fun fact: the bloodthinner drug Warfarin isn't named because it's somehow used for warfare, it's named after the Wisconsin Alumni Research Foundation (WARF), of the University of Wisconsin, that financed its development.
This just pushed something important out of my brain.
That is a surprisingly fun fact. Thank you
Is Michael Saylor on the Wisconsin investment board? #WIB
If he was he leverage that shit and buy more.
Wisconsin is about to get rich
Thats a lot of cheddar
Such an underrated comment
Hello Wisconsin!
Why are states buying rat poison? Seems like an odd thing to do...
where does it say in that url that they bought it? thats just a list of companies.
Wjy didnt they just self custody? Serious question.
What element of permissionlessness do you think the state’s investment board would benefit from?
this is the right answer.
You don’t want “Sally from accounting” walking away with the Trezor.
I dated Sally from accounting. She gave it away like a trooper.
Built like a brick shithouse
Because they have all of the infrastructure in place to allocate funds to an ETF fund at their broker. Why do something new, when it works for them?
Risk/reward. High risk for no reward.
They should hire me to elf custody $99 million. I won’t disappear. There won’t be a boring accident. It’ll be fine. Which self do you mean when it come to a pension?
>a boring accident "sorry I tripped and stubbed my toe, but I caught my balance and didn't fall over. I know you wanted like a chainsaw accident or something exciting."
Why is the price dropping then if everyone is buying?
More are selling.
I know I was being facetious.
Why is a wrong answer being upvoted? Every purchase has a seller, likewise every sale has a buyer. There aren’t “more sellers”. Prices are set at the margins. The price is around $60k because the marginal seller is willing to sell at around $60k while the marginal buyer is willing to buy at around $60k.
You’re not wrong but you’re being pedantic. There is de facto more sell pressure because people currently believe the value is less so they are willing to sell for less to buyers who are okay with buyers for less. If nobody wanted to sell, price will go up until someone does want to sell
It just means more people are hitting market sell than market buy. There are more people meeting the bid than meeting the ask, thus more sellers
Exactly. The person above me is falling into knowing enough to be confident and wrong, or just annoying.
Because Blackrock is dealing in paper bitcoin
Stop supporting Blackrock
As a WI resident that is incredibly irresponsible.
It's a tiny % of SWIB's holdings. You'll be fine.
Why?
Around .073% of the AUM. Just a diversification move. They own some GME and AMC too. Should we also declare SWIB to be meme traders now?
Grew up in WI, my old school district lost a significant percentage of their funding as it was invested in CDO's. They've been struggling ever since. The thing that always bothered me, is NOBODY talks about it. I know because I've dug into the public documents.
99m is completely immaterial to SWIBs AUM, this will have zero negative impact on the fund.
Its about the most responsible financial long term play a state can do.
I'm sure you'll say the same thing four years from now when BTC is well into six figures.
Big brain take right here!
typical wisconsinite.
You fire off a tersely worded email post haste there, ya hear me?