I just want out. I don't know how to put this but at the deepest level what's happening right now is making me sick. So many people below the poverty line barely making it by and then you have this stuff and Wallstreet Bets. Michael Saylor tops them all. Decadent and depraved. S&P at all time records and SNAP benefits not being renewed. I hate it here.
This is unsurprising. Maxis won't care, because in theory they don't care about the price. The only people complaining about this are those who bought at the top and made unsound financial decisions.
If you couldn't tell the majority of crypto influencers were foreigners before Twitter/X disclosed their location, I don't know what to tell you.
If a company’s crypto holdings are worth more than its market cap wouldn’t that mean I should buy the stock as its enterprise value is higher than its current market cap? Unless of course it’s saddled with debt which this article alludes to but doesn’t explain since most of the purchases seem to be for share buy backs?
It can be a good strategy but take a while to play out. I planned to buy GBTC when it was $8 in 2022 for that reason but managed to not do so, darn it. It's now $70.
I'm seeing a 2% decline in Bitcoin prices over a year, and up 410% over 5 years. Tumbles if you're day-trading. It gets old hearing this regularly over the past 10 years.
If you see the bitcoin charts, price has gone up a lot in the last few years but volume has tanked. Do I read this right that now crypto is basically a smaller market where a bunch of whales scam a ever dwindling but never completely disappearing flow of fools and marks?
More info on "Strategy", the company, which is supposedly the world's largest public Bitcoin holder.[1] "According to its most recent X post, the firm has raised $11.9 billion through common equity, $6.9 billion in preferred equity, and $2 billion in convertible debt."
The equity part includes listed stocks: STRF, STRC, STRE, STRK, and STRD. Those are on the NASDAQ, not crypto exchanges. Here's a long discussion of Strategy's strategy.[2]
They're leveraged, but the financing for the leverage is not from crypto markets, and has more strength behind it. The whole thing will come unglued if there's a prolonged drop in the price of Bitcoin, but they can ride through medium-length down periods.
Strategy's various stocks have dropped more than the price of Bitcoin.
For those that don’t know, the point of the bitcoin holding strategy of MSTR is that they sell convertible notes to buy bitcoin, which is essentially a put against the US dollar (they’re making a profit from the US dollar losing value over time due to inflation, assuming bitcoin rises against it). The convertible notes can be purchased by institutional investors that aren’t allowed to buy bitcoin directly as indirect bitcoin exposure because the notes can be converted into MSTR shares
I'm just disappointed in crypto. It was supposed to be internet currency, but became another meme stock instead. Maybe someday we'll be able to reboot it the right way so it can actually provide something of real value.
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[ 2.8 ms ] story [ 33.2 ms ] threadIf you couldn't tell the majority of crypto influencers were foreigners before Twitter/X disclosed their location, I don't know what to tell you.
The equity part includes listed stocks: STRF, STRC, STRE, STRK, and STRD. Those are on the NASDAQ, not crypto exchanges. Here's a long discussion of Strategy's strategy.[2] They're leveraged, but the financing for the leverage is not from crypto markets, and has more strength behind it. The whole thing will come unglued if there's a prolonged drop in the price of Bitcoin, but they can ride through medium-length down periods. Strategy's various stocks have dropped more than the price of Bitcoin.
[1] https://cryptonews.com/news/strategy-reports-21b-raised-in-2...
[2] https://www.vaneck.com/us/en/blogs/digital-assets/matthew-si...