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Of course, Bitcoin can go up another 8 times its value from here.
Misc saysThat was when margin debt increased 9.5% month over month.Concerning for sure, but it's not always reinvested into stocks and securities. With interest rates so low, you can borrow say $100k against your stocks for ridiculously low amount monthly. It's how we bought our current house, so we had leverage with the bank because it was a foreclosure. Cash is king in real estate. We then refi'd a couple months later. I think our monthly interest only carry cost was about $220/mo. So while it was a margin loan, it wasn't inflating the stock market. Others could be opening a business or funding it to stay afloat like restaurants and salons during the pandemic. My guess though based on the retarded crypto values and the month over month increase in margin debt, much of that increase went into BTC and other top level Crypto coins. People will double down on stupid I guess ...
That was when margin debt increased 9.5% month over month.
I just don't even want to know how many cash-out re-fi's have been done with some of that cash going into trendy stocks or alt-coins. Tap a HELOC to buy Bitcoin or TSLA? --- What could go wrong?
Bitcoin does have a much larger advertising budget than the government of Thailand.
Coinbase has over 35 million users. --- Those are not institutional investors. Those are your Holder geniuses.