Excellent comment Stock. We all know that what goes up in financial markets will eventually come down, so it makes sense to hedge the downside. With the current run- up in price I’m getting worried about a post-inauguration temporary correction and as such I’ve increased my shares of BITI. It’s the Bitcoin Short ETF. I don’t like using Puts via the Options market…..too expensive just to buy in. When it happens for you the cash register is going to sing a lovely tune. 😁
OT: 11 Bitcoin ETFs Approved by SEC.
- Thread starter Ward Jr
- Start date
Hey guys, as crypto holders, keep an eye on the stock MicroStrategy (MSTR). Shareholders just authorized for a 30x increase in the number of shares to finance buying more bitcoin. It was a tech company, and a good one. But now it's basically a bitcoin company. The share increase passed with 56% of the vote. Michael Saylor is or was the CEO. He owns 47% of the voting shares. He didn't exactly carry the shareholders with him on this one. They have bought bitcoin for 11 consecutive weeks now own over $47 BILLION worth of bitcoin. Saylor has increased his bitcoin purchases since Trump was elected. Ahead of Trump's inauguration, he attended the Crypto Ball in Washington where he met with the President's crypto czar as well as the incoming cabinet and members of Trump' s family. MSTR is diluting. Any prolonged downturn will kill the company. They cannot offload because that will crash the market, possibly both bitcoin and the equity market. And any large sells will get the attention of many eyes. So all they can do is raise cash via dilution. Selling could cause a panic.
I think they are seriously misguided and think BTC will never drop or they are idiots. Sometimes they are synonymous. They are making a high stakes bet on bitcoin.
Just because you have or had CEO in your title doesn't make you smart. The only question in my mind is if this company will go bankrupt before Citibank or Capital One.
I would just keep an eye on MSTR. I don't invest a lot in crypto, around 5%. So, if I'm wrong about bitcoin, my vehicle will just get scratched. It won't get dented, much less totaled. Some people invest 20-25% in crypto. Brave guys. Of course, if Ward is right about bitcoin going to maybe $2 million in 2 years, he will be set.
I think they are seriously misguided and think BTC will never drop or they are idiots. Sometimes they are synonymous. They are making a high stakes bet on bitcoin.
Just because you have or had CEO in your title doesn't make you smart. The only question in my mind is if this company will go bankrupt before Citibank or Capital One.
I would just keep an eye on MSTR. I don't invest a lot in crypto, around 5%. So, if I'm wrong about bitcoin, my vehicle will just get scratched. It won't get dented, much less totaled. Some people invest 20-25% in crypto. Brave guys. Of course, if Ward is right about bitcoin going to maybe $2 million in 2 years, he will be set.
Great analysis. I’ve been watching MSTR for about six months and I am concerned with all of the coin buying the company is doing. I see lots of analysts make note of their precarious financial position right now but most still recommend holding the stock and a few even recommend buying more shares. Their rationale is that Bitcoin will hit $200k this year. I’m not that confident at all about the company’s future so I’ve stayed away from it.
Wise move on your part. Basically, Saylor is operating on BTC as his primary unit of account. As I've stated before, I'm currently shorting bitcoin. "Their rational is that Bitcoin will hit $200k this year". If I was them, I, by all means, would be joining me going short if Bitcoin hits $125k.
This is why government regulations are so important. People will be incredibly risky if they're losing other people's money.
Bitcoin is one of the least risky assets on the planet right now -- and that would include Gold.
The new DeepSeek is pretty amazing.
I'm personally getting a new GPU to run dedicated AGIs.
The future is evolving at light speed.
Soon, all we're going to need to focus on is our health and staying alive.
I'm personally getting a new GPU to run dedicated AGIs.
The future is evolving at light speed.
Soon, all we're going to need to focus on is our health and staying alive.
People who say stuff like this are going to be the ones hurt the most when it goes back to zero.
I seem to remember you saying something similar from your Foxhole around $27K?
Imagine the Foxhole renovations you could have done with the gains since then?
I'll catalog this with Dave's "Shiny new object" post and revisit when we're much further north.
I seem to remember you saying something similar from your Foxhole around $27K?
Imagine the Foxhole renovations you could have done with the gains since then?
I'll catalog this with Dave's "Shiny new object" post and revisit when we're much further north.
Sad watching all those people who will lose money inflating the price.
Are you a full-time crypto scammer?
As you know, I'm short bitcoin, TODAY. I HOPE when bitcoin falls to where I THINK it will fall to, that I will back up the truck and load up at the end of this year or sometime next year. But, that will be a "game day" decision for me. I'm not sure right now what vehicle I will use. Most of the miners will go bankrupt. I hope that I determine what vehicle to use before "game day", obviously.
We just hit the mid-cycle low. Short at your own risk.
I'd be shocked if it dipped in the early 90s/late 80s, but that is a possibility if we get some major wonky news to drive it lower.
The issue with a major dip right now is that there's big money on the sidelines now ready to gobble up even 5% dips.
It's a new era in that regard.
Soon there's going to be fire and it's probably not going to stop until May or after.
My goal is that at my funeral, everybody coming to it will say, "He lived longer than anyone I knew".
You can either grow old gracefully or begrudgingly. I chose both.
As I have said many a time, I usually risk no more than 5% of my portfolio on crypto. So, I'm not risking a lot. If we get the drop I expect, I could very well be tempted to up a "long" play to 10% of my portfolio.
As I've mentioned to you before, I expect to go under 50k. I know you disagree. But, that's what makes a market.
I bought more of BITO yesterday at a significant discount to what it was the previous day. I’m trying to accumulate the ETF using dollar-cost averaging. I love the volatility of Bitcoin now because I can grab chucks buying the dip.
For you crypto bulls: Arizona lawmakers have advanced a Bitcoin strategic reserve bill, which seeks to deploy the world's first cryptocurrency as a savings technology for the state. The bill would allow up to 10% of a government entities or public fund's capital to be invested in Bitcoin and other digital assets.
Don't misunderstand, I'm still "shorting" Bitcoin. But, I felt that you crypto bulls would like that piece of news.
Don't misunderstand, I'm still "shorting" Bitcoin. But, I felt that you crypto bulls would like that piece of news.
Quite a few states have actually done this now. At least 5 - maybe more. No doubt more announcements are coming very soon.
So Stanford is the hub of this grift. You have Countries/Governments, States, Universities all invested. Quite a grift.
You have some great takes from your shabby Foxhole couch.
So Stanford is the hub of this grift. You have Countries/Governments, States, Universities all invested. Quite a grift.
You have some great takes from your shabby Foxhole couch.
^^^ The guy who would have been defending Bernie Madoff's Ponzi scheme in real time.
Not yet.
This is the current list:
- Alabama
- Arizona
- Florida
- Massachusetts
- New Hampshire
- North Dakota
- Ohio
- Oklahoma
- Pennsylvania
- Texas
- Utah
- Wyoming
Congrats, Blue Light Barista.
You've earned an ignore for now.
It's fine to have a counterview - even welcomed...but that's not what you're doing at all.
Hopefully more posters on this site will do the same and starve a troll to death.
Japanese public-traded company, Metaplanet which follows MicroStrategy's playbook on Bitcoin, spread the word about its plans to raise more than a hundred billion Japanese yen to buy a new bitcoin batch. They intend to issue 21 million new share subscription rights with a discount rate 0% in order to attract 116 billion JPY (which translates into roughly $745 million) to continue buying Bitcoin. The company stated this would be one of the largest Bitcoin purchases in the history of Asian markets.
Makes me think you actually believe this nonsense and not just a troll.
But the reality is you’re tired of being proven wrong so easily.
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