Bitcoin

[Stonewall308]

what platform do yall use? Ive been using etoro

 

[Poser]

https://www.thestreet.com/crypto/markets/strategy-prepares-to-sell-up-to-1-25-billion-of-bitcoin

Strategy prepares to sell up to $1.25 billion of Bitcoin​

 

[RockAndSage]

https://www.thestreet.com/crypto/markets/strategy-prepares-to-sell-up-to-1-25-billion-of-bitcoin

Strategy prepares to sell up to $1.25 billion of Bitcoin​

This is going to hit all of crypto hard during this bottom. It's beautiful, seeing it all go on sale.

 

[fmyth]

This is going to hit all of crypto hard during this bottom. It's beautiful, seeing it all go on sale.

As much as I'd like to add some sub 50k BTC to my position I don't think this announcement will push the price down significantly. BTC trades 20-40 billion per day. I don't think an extra billion in volume would the needle much in either direction. BTC is up 1% for the day. MSTR is up 12% for the day. STRC is up 13% for the day. Saylor has no need to sell any BTC if the stock price stabilizes. He could hit the ATM on MSTR and use the procedes to buy back STRC/STRK/STRF.

 

[2531usmc]

The one year BTC chart is pretty grim. Could be he’s protecting capital for additional downdrafts

 

[bozeman]

I think we will see below $60k, if we do, I will def be buying more. Won't touch it above $60k.

 

[fmyth]

I think we will see below $60k, if we do, I will def be buying more. Won't touch it above $60k.

BTC was $58,900 earlier today.

 

[RockAndSage]

As much as I'd like to add some sub 50k BTC to my position I don't think this announcement will push the price down significantly. BTC trades 20-40 billion per day. I don't think an extra billion in volume would the needle much in either direction. BTC is up 1% for the day. MSTR is up 12% for the day. STRC is up 13% for the day. Saylor has no need to sell any BTC if the stock price stabilizes. He could hit the ATM on MSTR and use the procedes to buy back STRC/STRK/STRF.

You're making great points about Saylor's moves for his company, but at the same time, when he sold 32 BTC a month ago it tanked BTC and almost all of crypto for a bit. That was something like only .005% of his holdings. He does the same thing to the market when he buys BTC, causing big spikes across all the major cryptos.

It's not the actual raw-data numbers of how much BTC he's moving - you're right, it's tiny fractions of overall market volume. The issue is how the markets perceive him as being The Bellwether Oracle on where crypto's heading.

The beautiful position he's in, is he can shock the market by selling a few dozen BTC, tank the prices 5-10%, and then buy it all back for millions in discount. He's great for putting crypto on sale for everyone.

 

[bozeman]

BTC was $58,900 earlier today.

Yes, missed it. Some are even predicting sub 50........not for the faint of heart for sure.