Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Torque
on 18/09/2020, 17:45:37 UTC
⭐ Merited by Biodom (1) ,vapourminer (1)
https://twitter.com/michael_saylor/status/1306636046948610049

Quote
We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions.  #Bitcoin scales just fine as a store of value.

TBH, I'm not sure why the Bitcoin community is high-fiving over this revelation.

I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. This is overall good news.

But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, etc). And the difference is that they don't have get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.