Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto Superior to Cash
⭐ Merited by The Pharmacist (4)
Is this Jeffries, LLC? If so, they look like an investment banking company, and I guess I'm missing the connection with the "ATM facility" tag. Can anyone clarify that for me? Are they involved with BTCATMs or does that refer to something different?
Either way, I guess I shouldn't be surprised that MSTR bought more bitcoin since it looks like they're going to be doing the DCA thing in perpetuity (or until they think they have enough).
Either way, I guess I shouldn't be surprised that MSTR bought more bitcoin since it looks like they're going to be doing the DCA thing in perpetuity (or until they think they have enough).
Despite every purchase of BTC by MSTR, the price does not soar when Amazon issues vacancies and false assumptions in the community about the implementation of BTC on Amazon
Wait, what? I'm not sure what you mean about the Amazon part of your post. I don't think Amazon was responsible for those rumors that they'd soon be accepting bitcoin--they'd have no reason to do that IMO. And as far as bitcoin not soaring: it's at around $49k, so I think it's starting to take off. If and when it breaks through the $50k barrier, it'll be a straight shot to a new ATH.I cannot resist to make some kind of comment regarding what sometimes can seem like short term perspectives in regards to where the BTC price is at or where it might be going... and for sure, I am not referring to you, The Pharmacist, because you seem to appreciate that we are in an upward momentum for the moment.
What I am suggesting is that so frequently there will be emphasis in terms of some recent price movements of the past days or even a week or so that get all worked up that the latest local high has not been busted through - as if BTC price goes up in a straight line, which is kind of ridiculous way of thinking.
Largely we have about a 70% price bounce back from our sub $30k prices of just a month ago, and for sure there could be some pauses, and even a correction from our current price point.. and surely at each stage in the past month-ish, when BTC prices were getting into the upper $30ks, and then into the lower $40ks and getting above $46k and bouncing above $50k - getting above each of those BTC price thresholds brought higher levels of certainty that the $28,600 bottom was in, and not about BTC prices continuing to go UPpity...
Sure, in the medium to long term, and including our current BTC price momentum, we seem poised for continuing UPpity, but of course nothing is guaranteed and not even that there could be a BTC price correction at this time - and so far, we have only had a 6% correction (down $47,750 so far), which seems to be a BIG so what.. kind of ant price movements, in the whole scheme of things.
When he buy Bitcoin total market is impact I don't know why market is down now.after some day he buy some bitcoin market go down.
Maybe this post is demonstrating part of my point?
The BTC price is NOT down.. Zoom the fuck out..
The BTC price is up, and what do you expect? Straight up forever? no corrections? 6%? What is 6% in the scheme of things?
seemingly nada... To be honest I do not like that someone holding so much BTC that they can create panic in the BTC market so easily. This is not good for crypto in the long term. I am just thinking about how much the market will be affected by a "profit booking" tweet from Michele saylor. Some individuals will hold so much power we could see misuse of it very often in the future.
You shouldn't have let him buy that much then. You should have bought it yourself until it's sold out so no one else can buy.
But hey, it's a free market. Anyone can buy bitcoins.
However, it is very unlikely that they will do any "profit booking" anytime soon. All their coins are locked up for at least 5 years.
MSTR's coins (and Saylor's personal stash as well) are not exactly "locked up", but I otherwise agree with the overall sentiment of your post Dabs and your various other points including that MSTR nor Saylor are likely to be either selling or attempting to be manipulating the BTC price, even if they are capable of doing whatever the fuck they want - in terms of free market aspects of bitcoin (but of course, there would likely be concerns from some regulatory bodies (such as SEC - and even share holder concerns) if Saylor were to try any kind of significant or meaningful levels of selling stocks to buy lower kinds of things).