Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
Sanrith Descartes
I was forced to self-deport from the /pol thread
- 49,262
- 134,032
For everyone who cheered when mainstream financial institutions decided to get involved in BTC, you are now learning a valuable lesson. Welcome to the world of BLK/JPM etc manipulating markets with their sheer scale. Welcome to the party. This is just another day ending in "y" in the stock world.
- 1
Flobee
Ahn'Qiraj Raider
- 3,016
- 3,505
Bitcoin has literally been manipulated from day 1. Nothing new here, good luck keeping it down over a long time scale though. No one has succeeded yet and plenty have blown up trying. If I had to guess I'd say Wall Street gets nuked trying to re-hypothicate BTC before they successfully smother it. I'm admittedly biases though
- 1
Jysin
Bronze Baronet of the Realm
- 7,135
- 5,617
Pinch of salt...
14:19 Bitmine Immersion Tech Chairman Tom Lee: Might be nearing low in Strategy as large Bitcoin portfolios are using short positions in MSTR stock to hedge their Bitcoin exposure - CNBC
- See 77K as potential floor in Bitcoin
- Bitcoin has been a leading indicator for stock market performance
14:19 Bitmine Immersion Tech Chairman Tom Lee: Might be nearing low in Strategy as large Bitcoin portfolios are using short positions in MSTR stock to hedge their Bitcoin exposure - CNBC
- See 77K as potential floor in Bitcoin
- Bitcoin has been a leading indicator for stock market performance
- 1
- 12,661
- 70,306
Ya, seeing tons of people saying it's going to be the 77K level. This leads me to believe it's definitely in the cards to go back to 63K as a head fake for those people.
- 3
- 1
Arden
Vyemm Raider
- 3,018
- 2,297
Tbf, people have been trying to force Saylor to sell BTC for years without result.
Certainly not saying it can't happen, but he's faced bigger draw downs than this multiple times before and come out on the other side intact.
Jysin
Bronze Baronet of the Realm
- 7,135
- 5,617
Flobee
Ahn'Qiraj Raider
- 3,016
- 3,505
The terms on his leverage are... favorable for him. I don't think this is the factor you're insinuating that it is. Also when you compare value of his assets vs liabilities he's hardly levered at all. I honestly don't think very many people actually understand what he's doing. I'm not saying he is going to succeed, but most of the shade thrown his way seems to misunderstand the situation.
MSTR is going to be incredibly volatile, that is exactly as promised because the functionality of the preferred stocks require that the volatility be stripped out of their structure and its being pushed into the common. Yes its volatile on the downside, but its volatile to the upside as well. MSTR is not in any real danger right now. If we drop to 40k and spend a year there then we can talk.
Is it smart to hold MSTR? I dunno man, I hold quite a bit so I guess we'll see in a few years. As of right now I'm still in the green
- 1
Arden
Vyemm Raider
- 3,018
- 2,297
From what I gather, his risk exposure to bitcoin and external financing via convertible debt/preferred stock is pretty much at or near its most aggressive level ever. I'm assuming that's what you mean. But I think he's previously been in a more precarious position in some ways- (e.g., 2022 with >1× debt/assets)
FWIW I dumped my MSTR a while back. Nothing against Saylor, but I'm not smart enough to really understand the play, and I try not to bet on stuff I don't really understand.
Jysin
Bronze Baronet of the Realm
- 7,135
- 5,617
No doubt. MSTR just going to continue share issuance diluting your position. Go with the Bitcoin ETF FBTC (Fidelity self custodies their Bitcoins) and sleep well at night.
- 1
TJT
Mr. Poopybutthole
- 45,936
- 124,405
Oh nice! Sadly I don't get to follow the market all day. I will be buying a good amount today/tomorrow.
- 1
