An $80 billion payments company that offers bitcoin products and trading for years, buys $50 million of bitcoin (0.06% of their market cap), puts out a press release to tout it.

Bitcoin bulls: "OMG OMG omg public companies are investing in bitcoin!"

Normal people: There's absolutely nothing of interest here. Call us when a real company invests in bitcoin, then you've got a claim. Investment by public companies in pure scam ponzi schemes is 2 orders of magnitude larger than what you're crowing about.

Even I didn't I didn't know anything about bitcoin I could smell the desperation a mile off.

Here ya go TS.
https://bitcointreasuries.org/

4 of those companies all crypto related companies that profit off existence of crypto?

And the other is 1 ( majority of the money) whacko who has a business that doesn't make any money, and is speculating with his share holders money? Seems like his company had been losing money for about 5 years if not more.

is any of that wrong?

and it looks like since he announced that purchase his companies stock has finally taken off, after many years of consolidating, so excuse me for even suggesting something sinister is at play here.

Just a resource to refer to over time.

But what are you suggesting is sinister?

The motive behind the move of buying bitcoin. Fraud maybe? Ceo trying to make something happen with a failing business. This is shareholders money, the business capital, but from what I glanced at this guy was bleeding money, eventually you get rug pulled, but this guy might be pulling a stunt before that rug pull.

While you just see the purchase and like this is bullish for bitcoin, validation, they all coming, here we go baby!

Explain this rug pull further. Its been a month plus. Stonk has gone up. Ample liquidity for any unhappy shareholders to get out.

On Monday, Michael Saylor lost $6 billion, more money than any human being except has ever lost in a single day. Shares in Saylor’s company, MicroStrategy, plunged 62 percent after the firm admitted that its 1999 revenues were 25 percent less than claimed, and its 1999 profit was actually a loss. Wednesday’s Washington Post reported that MicroStrategy erroneously booked revenue from two long-term contracts, perhaps jigging the numbers to meet analysts’ forecasts. Shareholders have already filed suit. The 35-year-old Saylor, who owns 56 percent of the company, has seen $10 billion—two-thirds of his paper fortune—disappear since the stock peaked two weeks ago.

You would be fazed at losing $6 billion in a single morning. You would fret if your company were pilloried for dubious accounting practices. But tyro billionaire Saylor seems utterly unaffected and largely uninterested. He insisted that his company did nothing wrong, and he moved on. “I signed up to change the world,” Saylor likes to say. He compares himself to Thomas Edison, Henry Ford, Andrew Carnegie, and John D. Rockefeller. When you are changing the world, who cares about a few billion dollars here or there?



You know what's funny. I saw someone tweet this a few months ago but it really was spot on imo and holds up very true.



When Portnoy showed up to the game and went around from sector to sector. The community that embraced Portnoy the most was the Crypto community. The only community that kicked Portnoy out/ignored/ who the **** is this clown was the Gold Community. Makes you wonder did Michael Saylor see the embracement from the crypto community on Portnoy as a opportunity to get some attention from irrational logic leaping fan boys?

Bitcoin needs people just like a ponzi

https://twitter.com/empty_banks/stat...50807068938241

Every company needs people

If we can break 12k, owh boy o boy... Gunna be some very pissed off bears and nocoiners!

Once 12k goes, sky's the limit! It's actually the weekly level at 11500, thats the level thats capping the market, once this gives way, there's "almost" no resistance anymore, in fact just sweet upside targets were resting bear stops become buy orders!!!

Why would I be pissed off? Explain the logic that me a " No coiner" is pissed off?

I mean, you're already obviously very pissed off for some reason.

Personally I don't spend all day posting in threads of topics I have no interest in or think are nonsense, but that's me.

TS, don't come back until you've rebought your imaginary bitcoins from your sell on the low of about 10200 I believe. Stimulus around the corner buddy.

Crypto benefits the most from endless stimulus.. better get back in!

Be sure to let me know when you get back in so I can take profits. I'm guessing about 12,500.

Please do not project, you're pissed I don't shill your magic beans.

I am sorry I can't be interested in something unless I believe in it, your opinion sounds very cultish.

I wasn't aware it is all day, it's amazing the logic leaps you guys make.

Nobody has explained why exactly I will be pissed off because price rise?

Do you think I think that the price rising validates your logic leaping?

It was unexpectedly great economic numbers (and improving US corona numbers) that have heartened the market. The stimulus situation has worsened substantially over the past two months, from assumed to be happening to a prolonged deadlock.

Actually, this narrative is bullshit. Crypto is now strong risk asset/stock market linked. The clown theory you tell yourself about inflation and money printing is at odds with all bitcoin price moves this year; bitcoin behaves link a stock market risk asset now and nothing else. If the market goes down or the economy gets bad, bitcoin crashes.

'Square buying Bitcoin was to be ExPeCtEd!'

'Public companies won't announce when they're going to sell. ThIs iS bAd fOr BiTCoIn!

If there is a stock I've been looking at but decide not to invest in it, and then over the course of the 7 years I've been looking at it, it goes up over 50x, I'd be a little annoyed I chose to pass on it.

I also don't spend my time sh*t talking that stock in forums. I tend to dedicate my time to stuff I'm interested in, but to each their own I guess.

Have you not read my previous posts? I wasn't always a bear on bitcoin, I happened to be a bull from 800 to 18k, and sold at slightly below 18k...... timing was rather lucky, I would have sold at any price the moment I learned that "All" value wasn't subjective. I took those gains and put them in Gold Miners, at the beginning of 2018 ( also happens to be the bottom for those stocks).

I don't know what you're talking about, and if You don't believe me I can get several poker players to come in this thread and verify everything I said was true from above here.

What you're suggesting is tho, that if I spent all my time arguing against islam ( since I have no evidence to believe in it) that I will be mad when Mohammed comes to me and shows himself.... Why would I be mad if all the evidence I had in front of me cannot persuade me to believe in it. Only after I get more evidence can I change my mind.

and if the magic beans of bitcoin do all the thing you say it can do and will do, won't society be better off. So while I may have missed out on all the gains on the way I can still use the service that has taken power from governments thus enjoying the service but not the gains on the way.

Your argument sucks, because it's actually illogical. A stock is much different than bitcoin. A stock is a part of a company, a bitcoin is a part of a service.

So when you guys insinuate that I am a closed minded individual it's actually false, since out of everyone here I likely have the most evidence of being open minded since I might be the only one who went from Gold to Bitcoin back to Gold, while the majority here only rode the bitcoin wave and suggest Gold is going to die to bitcoin......


For the record your bitcoin would need to get to over 50K per BTC to outperform my Btc to Gold stock trade, and if BTC managed to make it to 50k you would need my Gold stocks to not rise or fall from here. So if this is all about who has the gains.... I am doing better than 99% of people in crypto.

Pretty much. Bitcoin has been going backward/has been dead for 3 years, while other assets have ripped higher. Thus the HODLers cling to ridiculous bits of hope like Square buying 0.06% of their market cap worth, and are like



While the rest of us are like

You're only doing better than 99% of people in crypto, but you're doing better than 99.999% of all people. You deserve a medal.

Are you just going to ignore the other points I made, and only comment on the one that people are naturally going to assume is false. I think I made some strong points that showed your guys thinking was illogical that I would have some remorse or anger for not buying bitcoin, because that's what the issue was about.

Spot on man!

2018 end: ~$3250
2019 end: ~$7500
Today: $11,000

inb4 the 0.0001% of people that bought bitcoin at the absolute top of 20k

FYP.

A huge amount of dollar volume went off at higher than the current price. Many in this thread were likely buyers - there were rabid calls for the "certainty" of bitcoin higher than $100K by the end of 2018 and lots of fresh money came in. Prominent bitcoin bull/promoter McAfee was going to eat his dick on television if it wasn't $1 million by now. Many drank the koolaid and thought the big one was finally happening (because you didn't see that it was just a ponzi wave). Five weeks of frenzied trading higher than now in which there were 10s of millions of new entrants is certainly not 0.0001%.

Damn, bitcoin is going backwards?! I had no idea, lets check the data instead of making idiotic statements...

https://coinmarketcap.com/currencies...8&end=20201008

Opening prices:
Oct 8th, 2017: $4,429
Oct 8th, 2018: $6,600
Oct 8th, 2019: $8,246
Oct 8th, 2020: $10,677

Damnit! why does it keep going backwards?!

TS is there any scenario where you would admit you were wrong on bitcoin and just take the L? Or even buy some? What would it have to do? Would 10 more public companies putting it on their balance sheet change your mind? 100 more? Pricing going beyond $20k? Price going beyond $100k?