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Seems like an easy way to make a quick buck. Their purchase didn't raise the price. Their announcement did. So they could just put 1% in, make announcement, sell that 1% for a huge profit, then make a second announcement a quarter later declaring they sold in the last quarter dropping the price. Rinse and repeat.
Once you truly understand bitcoin and blockchain you'll realize how many core problems of society that can realistically be solved with it.
If you didn't know, square bought $50,000,000 USD worth of BTC... shhhhhh, not many people know this info
Is that why the price shot up minutes before my weekly purchase this morning?
Jack Dorsey is the biggest bull there is in Bitcoin. The Square and Twitter CEO has a one word bio on his Twitter profile ("Bitcoin"). That's it. So the biggest believer only put in $50M so I doubt other corporate CEO's will do much more than that and will probably do a lot less or nothing at all. MSTR buying $425M was a one-off fluke. Also, the price hardly moved on this purchase as it was done OTC which means there are a lot of Bitcoins up for sale and it will be very hard to move the price with this type of buying. Sorry for the cold water.
They have so much reserve cash, its silly to me that they only put in 50M. But its not nothing, and its definitely another domino to fall.
Seems like a good move. It could be a risk, but when you look at it on the scale of things, 1% isn’t a lot. I’m sure they would be able to unload it pretty quickly if they wanted too since CashApp sells Bitcoin.
With all these companies and institutions making big buys, why isn’t the price going up more? It seems demand is up...
if they had balls they would do 100%. Enough of this 1% shit.
edit: wow downvotes? I guess you guys aren't maximalists after all. Just a bunch of corporation dick suckers.
Smart of Microstrategy and Square to do this. There aren't enough lifeboats for all companies.
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