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Bitcoin-Explain to me how to buy these things (4 Viewers)

That was my premise. When your stock is down 30% over 5 years and the market is up 70%, you get desperate. There probably will be, but something tells me this pop will wear off because they have been treading water for years and people who bought the stock thinking bitcoin will realize that if you want to invest in bitcoin you just invest in bitcoin.

Their marketing is working. I’m not in the bitcoin community and people (you) in the bitcoin community have spread their name. I would have bet even money that they didn’t even exist anymore. 
I hear you, but they just placed a quarter billion dollar bet on BTC. The short term “marketing” pop becomes irrelevant when BTC doubles in price.

their fate, and the fate of their shareholders, is now tied to BTC. That does tie back to your earlier point of some more cautious folks potentially looking at this as a way to hack door some BTC exposure. Worked for OSTK.

 
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I hear you, but they just placed a quarter billion dollar bet on BTC. The short term “marketing” pop becomes irrelevant when BTC doubles in price.

their fate, and the fate of their shareholders, is now tied to BTC. That does tie back to your earlier point of some more cautious folks potentially looking at this as a way to hack door some BTC exposure. Worked for OSTK.
I think they are making a bet because they aren’t growing. Their revenue has been slowly leaking for years. It’s very similar to Overstock’s bet which worked for a short time during the run up and fell apart until Covid. If not for COVID, Overstock would be treading water as well. Their revenue double last quarter. I do think their stock is overvalued (getting hit today) because unlike some of the other work from home/cloud stocks, I think they’ll lose a lot of what they gained, which is why they are selling more stock while their price is up. I do think Microstrategy is in worse shape because they aren’t benefiting so unless bitcoin goes through the roof they will continue to lose revenue and share price.

 
I think they are making a bet because they aren’t growing. Their revenue has been slowly leaking for years. It’s very similar to Overstock’s bet which worked for a short time during the run up and fell apart until Covid. If not for COVID, Overstock would be treading water as well. Their revenue double last quarter. I do think their stock is overvalued (getting hit today) because unlike some of the other work from home/cloud stocks, I think they’ll lose a lot of what they gained, which is why they are selling more stock while their price is up. I do think Microstrategy is in worse shape because they aren’t benefiting so unless bitcoin goes through the roof they will continue to lose revenue and share price.
Well, there's all that and the fact there isn't anywhere else for them to park their money. treasuries? bonds? cash? 

 
Well, there's all that and the fact there isn't anywhere else for them to park their money. treasuries? bonds? cash? 
If you read the press release, the CEO promised to invest a quarter billion in stock repurchases and a quarter billion in gold or bitcoin. He chose bitcoin. Parking in cash has effectively 0 ROI. He’s taking a shot because at this point shareholders are antsy, especially sitting on a pile of cash while the stock continues to drop. What honestly would have been best is if they could have invested that in something to create some revenue growth. It’s not good that that wasn’t an option. They may or may not make money on the investment but it’s not a stock I would buy for the bitcoin investment or for future share price appreciation. The bitcoin investment would be better served getting 100% return on any gains instead of it being muted because the company’s revenues continue to decline. Even OSTK at least had a chance to benefit from all the folks who needed to find an outlet to spend some bitcoin. There’s no real benefit for the company. They could have bought $250M of Apple stock as well. 

 
If you read the press release, the CEO promised to invest a quarter billion in stock repurchases and a quarter billion in gold or bitcoin. He chose bitcoin. Parking in cash has effectively 0 ROI. He’s taking a shot because at this point shareholders are antsy, especially sitting on a pile of cash while the stock continues to drop. What honestly would have been best is if they could have invested that in something to create some revenue growth. It’s not good that that wasn’t an option. They may or may not make money on the investment but it’s not a stock I would buy for the bitcoin investment or for future share price appreciation. The bitcoin investment would be better served getting 100% return on any gains instead of it being muted because the company’s revenues continue to decline. Even OSTK at least had a chance to benefit from all the folks who needed to find an outlet to spend some bitcoin. There’s no real benefit for the company. They could have bought $250M of Apple stock as well. 
Great points. Since they didn't buy Apple stock (or keep/stick that money elsewhere) they must have thought 1). buying BTC would make a bigger splash and get attention (like you said); 2). outperform most of the other asset classes on a risk/return basis; or 3) Both. 

Now if this bet pays off, aren't other CEOs in similar circumstances going to at least consider making a similar bet? If not, why not? If so ... bullish. 

As an aside, I don't think you understand OSTK's investment in BTC/crypto. It is vastly different. They have built an entire basket of subsidiary companies that are blockchain focused (Medici Ventures). 

 
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I'm surprised how quiet this thread is. A lot of people are going to be sorry they didn't allocate funds into BTC. Just seeing the stock thread continually pumped and crickets in here tells you all you need to know. 

 
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dipandglide said:
I'm surprised how quiet this thread is. A lot of people are going to be sorry they didn't allocate funds into BTC. Just seeing the stock thread continually pumped and crickets in here tells you all you need to know. 
I'm with you.  I've beaten the drum for btc and eth for a few years now.  I've literally been telling all my buddies to buy and anything under $10k is a gift.  A few got in around 10k.  The others are now asking me how to get in again.  I tell them to wait until btc touches the 21 week MA to buy.  Otherwise you're buying the top of the current move.  BTC is such a no brainer purchase.  If you have cash sitting in your house or bank accounts, you are literally losing money by the day.  Putting it into btc is the best thing one can do to preserve and grow wealth.

 
I like what Saylor said about buying and holding. If you believe in BTC, buy, hold, and forget the noise these next 5-10 years. It’s a simple bet to make if you want to put your money where your mouth is. Tom Lee had a stat about missing the “big day” moves trying to trade/swing trade this stuff. It’s dangerous. 

Big money is continuing to come. You have to be living under a rock if you don’t see how BTC/crypto play a part in the future of currency/finance.

 
It's crazy how bitcoin is slowly and steadily approaching its All Time High (ATH) of ~ $20k yet there is no euphoria yet.  I mean NOBODY is hyping bitcoin in this thread other than me and like 2 other dudes. I think Bitcoin still has some room to run before a healthy and needed pullback.  I'm expecting this current move to climax REALLY soon, however,(within the next 1-2 weeks) with a blowoff top to the $20k price area (previous ATH).  Then I'd expect a drop of anywhere between 25%-45%.  If this is truly a new bull market for Bitcoin (which I firmly believe it is), the drop should hold support on the 20 week moving average which at this moment is around $11,900.  I'm not giving investment advice but if any of you have been waiting for a good buying opportunity for bitcoin, waiting for a pullback to the 20 week moving average is a good time to add some bitcoin to your portfolio!!

Here is a basic chart I setup for you to view.  The top horizontal green line is the previous ATH.  The green curve is the 20 week moving average.  Each candlestick is 1 week of price action.

 
So 2 years ago or so I seen some excitement around Bitcoin, and had a couple friends showing how fast it was exploding.  Rarely see anything now.  I'm 48, keep up on tech a little but don't need the latest phone or anything and I see almost nothing about Bitcoin.  I can't imagine anyone older than me is seeing anything about Bitcoin.  I guess I'm missing something but why would this be a thing in the future?  What's the benefit?

 
Rhythmdoctor said:
It's crazy how bitcoin is slowly and steadily approaching its All Time High (ATH) of ~ $20k yet there is no euphoria yet.  I mean NOBODY is hyping bitcoin in this thread other than me and like 2 other dudes. I think Bitcoin still has some room to run before a healthy and needed pullback.  I'm expecting this current move to climax REALLY soon, however,(within the next 1-2 weeks) with a blowoff top to the $20k price area (previous ATH).  Then I'd expect a drop of anywhere between 25%-45%.  If this is truly a new bull market for Bitcoin (which I firmly believe it is), the drop should hold support on the 20 week moving average which at this moment is around $11,900.  I'm not giving investment advice but if any of you have been waiting for a good buying opportunity for bitcoin, waiting for a pullback to the 20 week moving average is a good time to add some bitcoin to your portfolio!!

Here is a basic chart I setup for you to view.  The top horizontal green line is the previous ATH.  The green curve is the 20 week moving average.  Each candlestick is 1 week of price action.
I enjoy reading these posts and I have been buying small amounts at a time for the past year.  I have doubled my (small) investment in that time.  I appreciate your comments here.  I would contribute more, but I don't have much to offer other than I love owning BTC.  I will jump on it if it falls back another 40% at 20k.

 
So 2 years ago or so I seen some excitement around Bitcoin, and had a couple friends showing how fast it was exploding.  Rarely see anything now.  I'm 48, keep up on tech a little but don't need the latest phone or anything and I see almost nothing about Bitcoin.  I can't imagine anyone older than me is seeing anything about Bitcoin.  I guess I'm missing something but why would this be a thing in the future?  What's the benefit?
I have numerous posts on the previous page (Page 34 of this thread) that explain why I'm bullish on Bitcoin.  Also, this post of mine is worth a read and the article I linked within it should be read by anyone interested in Bitcoin.

In short, Bitcoin is a hedge against fiat currency, Central Banks constant money printing and the impending global financial collapse/reset.  Unlike fiat which has no cap (can be printed endlessly), Bitcoin has a hard cap that is included in the code that only allows a total of 21 million Bitcoin.  So in a way, Bitcoin is a deflationary asset which only gains value over time whereas your fiat is inflationary and only loses value over time.  Prices of goods go up over time not because they cost more to make and manufacture but because your dollar today is worth LESS than last month/year/decade.

I see a future world where Bitcoin and NOT the USD is the global reserve currency.  With only 21 million available and a global population of over 7 billion, you can see why there is currently a mad rush to obtain Bitcoin. The whole world is starting to see the advantage of holding some.  Here's an interesting statistic, there are approximately 46 million, millionaires in the world.  If each millionaire wanted to obtain 1 full bitcoin, they cannot.  It is mathematically impossible.

 
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So 2 years ago or so I seen some excitement around Bitcoin, and had a couple friends showing how fast it was exploding.  Rarely see anything now.  I'm 48, keep up on tech a little but don't need the latest phone or anything and I see almost nothing about Bitcoin.  I can't imagine anyone older than me is seeing anything about Bitcoin.  I guess I'm missing something but why would this be a thing in the future?  What's the benefit?
On the most simple level:

It's a software-based store of value with programmatic stock-to-flow scarcity. 

In other words, it's kinda like digital gold.

(there are other benefits such as it is a bearer asset, it's easy to transmit across borders, it takes rent seeking middle men out of financial transactions, etc. etc. etc.)

 
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There a good Twitter account that tracks these

Microstrategy’s BTC bet is up > 50%

+$200,000,000 on its $640MM investment

Square is up about > 55% on its bet

+$30,000,000  on its $79MM investment 

Not too shabby. I would bet their peers are watching and weighing the decision where to stash their case reserves. 
 

 
I have numerous posts on the previous page (Page 34 of this thread) that explain why I'm bullish on Bitcoin.  Also, this post of mine is worth a read and the article I linked within it should be read by anyone interested in Bitcoin.

In short, Bitcoin is a hedge against fiat currency, Central Banks constant money printing and the impending global financial collapse/reset.  Unlike fiat which has no cap (can be printed endlessly), Bitcoin has a hard cap that is included in the code that only allows a total of 21 million Bitcoin.  So in a way, Bitcoin is a deflationary asset which only gains value over time whereas your fiat is inflationary and only loses value over time.  Prices of goods go up over time not because they cost more to make and manufacture but because your dollar today is worth LESS than last month/year/decade.

I see a future world where Bitcoin and NOT the USD is the global reserve currency.  With only 21 million available and a global population of over 7 billion, you can see why there is currently a mad rush to obtain Bitcoin. The whole world is starting to see the advantage of holding some.  Here's an interesting statistic, there are approximately 46 millionaires in the world.  If each millionaire wanted to obtain 1 full bitcoin, they cannot.  It is mathematically impossible.
Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced.  I'm assuming you meant billionaires instead of millionaires?

 
Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced.  I'm assuming you meant billionaires instead of millionaires?
I fixed my post. As JerseyToughGuys said, I meant 46 million, millionaires in the world. Only 21 million Bitcoin. Not even half of them could own a full one. 

 
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Thanks for the info - I find it hard to believe Bitcoin would replace USD but I guess people probably thought precious metal coins would never be replaced.  I'm assuming you meant billionaires instead of millionaires?
Every single fiat currency has gone to 0 since the beginning of time. 

The reality is inflation is coming and people are searching for assets that aren’t inflated. BTC market cap is 2% of golds. There is a lot of sky above as BTC continues to grow trust as a store of value.

 
It's crazy how bitcoin is slowly and steadily approaching its All Time High (ATH) of ~ $20k yet there is no euphoria yet.  I mean NOBODY is hyping bitcoin in this thread other than me and like 2 other dudes. I think Bitcoin still has some room to run before a healthy and needed pullback.  I'm expecting this current move to climax REALLY soon, however,(within the next 1-2 weeks) with a blowoff top to the $20k price area (previous ATH).  Then I'd expect a drop of anywhere between 25%-45%.  If this is truly a new bull market for Bitcoin (which I firmly believe it is), the drop should hold support on the 20 week moving average which at this moment is around $11,900.  I'm not giving investment advice but if any of you have been waiting for a good buying opportunity for bitcoin, waiting for a pullback to the 20 week moving average is a good time to add some bitcoin to your portfolio!!

Here is a basic chart I setup for you to view.  The top horizontal green line is the previous ATH.  The green curve is the 20 week moving average.  Each candlestick is 1 week of price action.
I gotta admit I'm blown away with the moves up.    This on the surface makes no sense, crypto has completely fallen off the radar of the average bro, has long worn out it's use case as a currency, so what the hell is moving this?  

 
I gotta admit I'm blown away with the moves up.    This on the surface makes no sense, crypto has completely fallen off the radar of the average bro, has long worn out it's use case as a currency, so what the hell is moving this?  
Quiet groundswell and a confluence of issues.

Supply dropped (halving), demand is rising.

You have "institutions" like Grayscale Trust, Square, and Microstrategies buying a billion+ of dollars of BTC.

You have guys like Paul Tudor Jones and Stan Druckenmiller saying they are now allocating to BTC, even if it's just 1%, analysts at Citibank throwing out 300,000 price targets.

 Mania won't hit for awhile. 

 
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Lol. Do you know anything about Microstrategy? I had a buddy who worked there before they started the dot com bubble pop. They ran up a ton and then reported some accounting irregularities and pop. Stock was worth 10x what it is now 20 years ago. Not on the level of Enron and Worldcom but one of the first signals that a lot of inflated accounting. Pretty sure it’s still the same CEO. They have real products but nothing special. Buying bitcoin for them is most likely an attempt to jump start the stock price which is down about 30% over the last 5 years.

By the way, this has nothing to do with my opinion on Bitcoin, more an opinion on Microstrategy’s attempt at making news. 
Seems to have worked.

 
Seems to have worked.
It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong.

Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy.

 
It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong.

Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy.
No argument there. 

 
It did, but my point was still about Microstrategy the company. If you want to buy Bitcoin and you are buying Microstrategy you are doing it wrong.

Also, there were a lot of companies calling themselves blockchain companies and their shares got bid up in the mania. Where are they now? Microstrategy bought Bitcoin at the right time but that doesn’t make them a good stock to buy.
Agreed. You want bitcoin exposure? Buy actual bitcoin not a stock that bought btc!!

 
SO.... Is Bitcoin going to tap $20k this weekend or before Thanksgiving?  We shall see.  Exciting times!!  If not, I'm prepared to purchase a big chunk when it drops to $13k.  Hopefully it goes that low.  We may never see $12k Bitcoin again and I'm pretty darn confident we'll never see $10k Bitcoin again.  That train has SAILED, imo.  In summation, a drop to $12k would be a GIFT.  A drop to $13k is what I'm expecting and won't get greedy waiting for anything lower than $13k.

 
SO.... Is Bitcoin going to tap $20k this weekend or before Thanksgiving?  We shall see.  Exciting times!!  If not, I'm prepared to purchase a big chunk when it drops to $13k.  Hopefully it goes that low.  We may never see $12k Bitcoin again and I'm pretty darn confident we'll never see $10k Bitcoin again.  That train has SAILED, imo.  In summation, a drop to $12k would be a GIFT.  A drop to $13k is what I'm expecting and won't get greedy waiting for anything lower than $13k.
I think you are right about that drop, if history echoes. But I think it may come from a higher point and result in a higher low. In other words, 24 to 18. Something like that. I say this, because we've had, what, one day where it ripped 1K? The rest has been slow and steady. I am betting on a few face melting up days before that eventual back fill. 

 
in any event, two big things for the inevitable new comers:

1. You don't have to buy a whole BTC. You can buy 10 bucks worth if you are so inclined. You can also dollar cost average very easily these days.

2. Even though BTC has been kicking around for 10+ years now, many many people believe we are still "early." It's quantifiably early in the next 4 year cycle. 

 
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I think you are right about that drop, if history echoes. But I think it may come from a higher point and result in a higher low. In other words, 24 to 18. Something like that. I say this, because we've had, what, one day where it ripped 1K? The rest has been slow and steady. I am betting on a few face melting up days before that eventual back fill. 
Did I really say “that TRAIN has sailed”?  🤦‍♂️

 
Wish i bought more than what I did at 10K ish 

if it gets anywhere near 13k I'll have to buy more................

Anyone buy Bitcoin inside a self directed IRA?  -  just curious before I go to research this for myself.  

 
Still can't believe how quiet this thread is.  My prediction - a year from now, this will be the most active thread in the FFA.  In the meantime, I'll just continue stacking SATs.

 

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