Just an insanely dumb bet with no way to hedge. If he truly believed that, he could bet $2m on it and probably get 1000+:1 odds.
Cryptocurrencies add nothing useful to society, says chip-maker Nvidia Really going out on a limb there Nvidia
Is being anti crypto really going to move the needle? Or I guess she’s probably getting re-elected anyways so just a way to get her opinion out there? Feel like we’ve got some bigger issues to tackle
Big to small. Magic beans on the internet first then we can get to our kids being murdered in schools every day.
?? I think they’re morons for selling an asset for dollars that they could just click/print, but not sure what that has to do with the security/non-security issue. If they had eth, btc, doge, or cumrocket coin via Silk Road, then they’d be selling. The securities regulations have zero impact on that. To simplify this: btc can be a non-security while coinbase violates securities laws by selling and marketing non-btc securities. These are not remotely incongruent positions.
It's a supremely dumb talking point from her, and she comes across like an uneducated moron on the entire topic. Considering she's been anti-bank most of her career, maybe she should give some thought to why her anti-crypto "army" is getting interest from bank lobbyists.
Meh. Their last buy was like $150m in the 23s. Price has been in the 27-28 range for weeks. Hardly a local top.
I think it’s more indicative that someone(s) have a hefty bot trader tied to his tweets because it dumps when he posts it every time.
Harrison Beck 's point was more that they often will have bought around the top of the recent history--e.g., if it traded between 25 and 28k the last 2 weeks and is now at 25k, then more often than not their buy price would be something shitty like 28k. I've noticed that in the past, but it's definitely not an every time thing. I've never noticed the market price trading negatively post-announcement. All of their buys are listed here, although doesn't look like it's updated yet for today: https://bitcointreasuries.net/entities/1
I posted the numbers. I'm sure some were poorly timed and some weren't. That's kind of the nature of buying at random times when the company has available cash and lacks the ability to predict the future. He's talked about it before: doesn't think he has any ability to predict or time the market in any short-term timeframe, buys when he has cash, etc. They have buys ranging from $10k to $58k. It's pretty clear he doesn't give a shit about predicting short-term price. He's a buyer at any price.
17/25 is an irrelevant number when 9 of the 17 are for tiny fractions of the 140,000 he holds. If I have 140,000 btc with 100,000 purchased around 29k, I wouldn't care that I had a bunch of tiny buys in the 40s and 50s. The $29.8 average buy number is the only one that matters.
I'm sure it's relatively simple to find out what his price would be if they bought every day (or weekly/monthly) from August 10, 2020 to present. I'm sure it's lower than $29.8k since I saw someone do that math recently if you bought daily starting at the $69k top, and it came out to an average buy of like $25k. I just kind of doubt the company's strategy is to buy on a daily/weekly basis. Would guess that creates some operational/legal problems for a public company. If it goes to $2T, it will have been a pretty clear correct decision for the company and its shareholders (already is the correct decision if you're judging on stock price). If it hits $5T+, it's one of the best public company strategic decisions in...idk history? No one has to think that $100T will happen in order to think buying btc at a $540b market cap is a good idea.
I would expect a btc maxi company to understand the halving cycles a bit better than this and buy and sell accordingly. To come away with an average buy price that is underwater rn is borderline embarrassing.