4 ms·

I'm gonna gamble and guess none

• saalweachter 9y ago
  I mean, suc^H^H^Hinvestors have dumped hundreds of millions if not billions into Bitcoin over that same time-frame, I assume it has to be cannibalizing something, and the "the world is ending you better buy gold it only goes up!!!" market is as good a guess as any.
  • charlesdm 9y ago
    No one says they had to take away money from somewhere. But most likely the stock market. With the markets being up a ton over the last ten years, most HNWIs could have easily borrowed against their shares portfolio at <2% a year and put it into crypto, if they were up for it. (Portfolio) margin debt is at an all time high. If you had the balls to lever up your portfolio 3x you would have made a killing after the 2008 crash with just a few million in capital, and that's just by investing in the stock market.
  • matt4077 9y ago
    Whenever someone buys bitcoin, somebody is selling–the same amount, at the same price. That seller can then use those US$ or EUR they got and buy gold. There's no value "stored" in bitcoin that is missing anywhere else. It's all in your head.