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.

 

[fmyth]

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

BTC is below 60k. If you are serious about buying BTC below 60k I'd recommend you DCA.

 

[fmyth]

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.

I believe Saylors main objective is to get MSTR into the S&P 500. His recent sale of 32 BTC and the changes he announced today are intended to improve his chances of S&P 500 inclusion.

 

[RockAndSage]

I believe Saylors main objective is to get MSTR into the S&P 500. His recent sale of 32 BTC and the changes he announced today are intended to improve his chances of S&P 500 inclusion.

I didn't know anything about that angle...super interesting...

 

[stevewes2004]

BTC is right where it’s supposed to be in the cycle.

I honestly thought the 4-year cycle would be ripped to shreds…. Jokes on me but I’m looking forward to stacking from now through end of the year.

Sent from my iPhone using Tapatalk

 

[bozeman]

BTC is below 60k. If you are serious about buying BTC below 60k I'd recommend you DCA.
View attachment 1087919

Watching....little bird told me to 'hold' for now....it will keep going down. He is saying below 55k.......eyes on it.

 

[benconfused]

BTC is right where it’s supposed to be in the cycle.

I honestly thought the 4-year cycle would be ripped to shreds…. Jokes on me but I’m looking forward to stacking from now through end of the year.

Sent from my iPhone using Tapatalk

ITC Member? I salute.

Cash position going into Q4 baby.

 

[Beendare]

I believe Saylors main objective is to get MSTR into the S&P 500. His recent sale of 32 BTC and the changes he announced today are intended to improve his chances of S&P 500 inclusion.

It's understandable you pump Bitcoin as you own a lot....but getting into the S&P index is not going to happen. It doesn't qualify. For one, It's not a company posting a profit. It's an entity that takes your initial investment and pays you a chunk of it back in what they call a dividend but it's really a refund of your own money. This is literally the definition of a Ponzi scheme.

I am surprised the SEC has not cracked down on him. As long as Bitcoin is rising he can somewhat sustain the payments but when he is averaged in at $77,000+ and paying out div when the price is well below his cost- its unsustainable.

I'm surprised more cannot see this; Buying at $77k and selling at $60k is not a good business model.

The argument for Bitcoin is that it will be adopted as a currency, and it's a store of value. It's not storing value if it continues to drop. Saylor took the fact that people were using Bitcoin as a 'store of value' and prostituted it. The big financial companies got in because they can derivative trade the shit out of it while taking a cut.

I hope for the sake of the avg guy that plunked some $$$ into it bitcoin holds or goes up. Saylor tried to prop it up and buy when the price was declining- that didn't work. The media gave Bitcoin a pass, but now they are skeptical. No more free lunch.

I'm agnostic to Bitcoin.....it will be interesting to see what happens.

 

[2531usmc]

BTC is right where it’s supposed to be in the cycle.

I honestly thought the 4-year cycle would be ripped to shreds…. Jokes on me but I’m looking forward to stacking from now through end of the year.

Sent from my iPhone using Tapatalk

Saylor’s said back in April that the 4 year cycle is dead. Is that they cycle you are referring to?

 

[fmyth]

It's understandable you pump Bitcoin as you own a lot....but getting into the S&P index is not going to happen. It doesn't qualify. For one, It's not a company posting a profit. It's an entity that takes your initial investment and pays you a chunk of it back in what they call a dividend but it's really a refund of your own money. This is literally the definition of a Ponzi scheme.

I am surprised the SEC has not cracked down on him. As long as Bitcoin is rising he can somewhat sustain the payments but when he is averaged in at $77,000+ and paying out div when the price is well below his cost- its unsustainable.

I'm surprised more cannot see this; Buying at $77k and selling at $60k is not a good business model.

The argument for Bitcoin is that it will be adopted as a currency, and it's a store of value. It's not storing value if it continues to drop. Saylor took the fact that people were using Bitcoin as a 'store of value' and prostituted it. The big financial companies got in because they can derivative trade the shit out of it while taking a cut.

I hope for the sake of the avg guy that plunked some $$$ into it bitcoin holds or goes up. Saylor tried to prop it up and buy when the price was declining- that didn't work. The media gave Bitcoin a pass, but now they are skeptical. No more free lunch.

I'm agnostic to Bitcoin.....it will be interesting to see what happens.

I wish I had enough influence to actually move Bitcoin’s price, but unfortunately my posts don’t carry that kind of weight. Everything I share is just my own opinion and research — I’m not giving financial advice, and I’ve said that many times.

MicroStrategy (MSTR) is essentially a publicly traded company that has chosen to hold Bitcoin as its primary treasury asset, making it a leveraged play on BTC. Unlike a Ponzi scheme, it operates with full transparency — its financials and Bitcoin holdings are publicly disclosed every quarter.The SEC has a very clear definition of what a Ponzi scheme is (I’ve linked it below). Given that definition, it’s hard to see how MSTR fits. Major institutions seem to agree: Morgan Stanley, BlackRock, Vanguard, and several other large investment firms are among the top shareholders.Here are the current top 10 institutional and major shareholders of MSTR:

• Michael J. Saylor (Executive Chairman & Founder)
• Capital Research and Management Company
• The Vanguard Group
• BlackRock
• Growth Fund of America
• Morgan Stanley
• State Street Corporation
• Jane Street Group
• American Funds Fundamental Investors
• Geode Capital Management

I’m not saying MSTR is right for everyone, but calling it a Ponzi scheme feels like a stretch when some of the most sophisticated asset managers in the world have billions invested in it.For reference, here’s the SEC’s definition of a Ponzi scheme:

https://www.sec.gov/spotlight/enf-actions-ponzi.shtml

Would love to hear other perspectives.