Coinbase custody seeing $200-400 million in crypto deposits per week from institutions

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Coinbase custody seeing $200-400 million in crypto deposits per week from institutions

Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions

Coinbase custody seeing $200-400 million in crypto deposits per week from institutions

Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions



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Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions

Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions
Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions
Coinbase Custody Seeing $200-400 Million In Crypto Deposits Per Week From Institutions

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  1. It’s actually a pretty smart move by Xapo. They’re going for the masses, digitizing banking for the unbanked and underbanked. Here’s a medium post I found on their CEO’s twitter about it: [Xapo sells Institutional Custody Business to Coinbase]( https://medium.com/@xapo/xapo-sells-institutional-custody-business-to-coinbase-giving-focus-to-consumer-business-22ea5eb2428e)

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  2. Let’s see if the math works. Annualized this would be between 10.4 and 20.8 billion USD worth of crypto per year. From Brian’s tweet we can assume this was zero per week until they launched ‘Coinbase Custody’ and that it’s been growing ever since that launch. There’s no bottomless pit to keep supplying $400mm a week without a huge price increase. Conclusion – these amounts are recent, and infrequent. Probably a few billion total over the entire life of the Custody product. Also, these ‘institutions’ are not mainstream finance. They’re likely crypto hedge funds like the ones run by Olaf, Fred, and other ex-coinbase employees that went on to start funds.

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  3. Some quick calculation:

    * $200 million / 7 days = $28,571,428

    * 144 blocks mined per day (average) X 12.5(per block reward) = 1,800 Bitcoin per day of supply

    If this money was just used to purchase the current produced supply, the cost per bitcoin would be $15,873 per 1 btc.

    But bitcoin dominance is roughly 69%, so instead of the low end $200 million we should do 69% if $200 mil .. lets try this again:

    * 69% of $200 million = $138 million

    * $138 million / 7 days = $19,714,286 per day

    * $19,714,286 / 1,800 btc = $10,952 per bitcoin

    Remember this is a low end range.

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  4. he’s saying “*in new crypto deposits*”, doesn’t this mean that those investors are depositing bitcoin/other crypto and not USD?

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  5. This is an alt-coin post spreading Armstrong’s push to promote alt coins against bitcoin. Should be downvoted.

    No criticism of op. The message sounds positive for bitcoin. But it is Armstrong’s always ongoing attempt to promote alts and hurt bitcoin.

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  6. If they were buying with these money newly mined bitcoins, they would be buying them for 300 000 000/7/24/6/12,5 = 23 809$ each.

    So prepare they will go in in any moment and the price can go ballistic.

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  7. So bitcoin is coming in, not US cash right? That means they’re going to dump? Why else would they move $200million in crypto to an exchange ?

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  8. Don’t institutional investors know that Coinbase will be hacked like every other site and that the only safe way to have bitcoin is to use a hard wallet and bury it in your back yard?

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Coinbase custody seeing $200-400 million in crypto deposits per week from institutions

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