Ever since bitcoin ETFs became a thing early this year there's been a ton of hype and mainly retail investors buying it up. This is because access to it through 401ks and other means is now possible. A vast majority of the money pumping into bitcoin through these ETFs has mainly been your every day person and not so much companies or large institutional investors.

The Catalyst

Many thought we would see bitcoin rise to over $100,000 even predictions of it being $250,000 or more by now with the ETF approvals and what many thought would be main stream investing.

However these one very big point that is missing from this and that's that institutional investors seem to not be investing but not because they don't want to it's primarily because the clearing houses these large caps use don't have the crypto in place to be able to do so.

However a new catalyst is starting to show that could be even bigger then that on institutional investors and that catalyst being a new headline we just saw come out about Wisconsin holding bitcoin ETFs as part of it's treasury.

What This Shows Us

What this is showing us is the governments, cities and states are starting to stack and realize the real potential of cryptocurrency as a viable means to building wealth and build their books.

A major and boy do I mean major issue in the USA right now is debt. From a national level of over 34 trillion dollars and still climbing rapidly.

It's now a bet on a way to curb the inflation and get their balances ahead of others. Wisconsin currently holds a whopping 2.4 million shares of BlackRocks's iShares Bitcoin Trust otherwise known as IBIT worth almost 100 million dollars!

The idea is that bitcoin really wouldn't moon shot until governments, states and cities started to really invested and open up their portfolios to bitcoin that we would really start to see any type of real meaningful growth.

Corps, Banks and Others

Another big factors from the above is the massive adoption which has been happening with banks as well. I wrote about this a bit the other day in my article titled Why Banks Are Getting Involved highlights banks also massively adopting and building bitcoin into their asset classes. We also have major businesses also grabbing up huge amounts of bitcoin all while governments and higher ups trash talk it to gain even more at lower prices.

A saying I live by and applies to all things including this is "Pay less attention to what men say. Just watch what they do." which mainly means don't act on what someone is telling you while they are doing something else their actions speak louder than words.

Posted Using InLeo Alpha