patrick.net

AD says

Read what Larry Fink of Blackrock has publicly stated recently about Bitcoin, specifically after Bitcoin ETFs were made available to retail investors.

So Fucking What?

AD says

Read what Larry Fink of Blackrock has publicly stated recently about Bitcoin, specifically after Bitcoin ETFs were made available to retail investors.

That's because they own a lot. I don't care the fiat price tagged to it. It's a penny stock trading wise. One person can own a bunch and move it and we have no clue. It's marketing. It's not a hedge. And it's not here to stay. You're better off buying a Cyber Truck and holding onto it for 40 years. Once they stop production it will go through the roof value wise. Literally the reason people are buying them. Buy it and toss it in a garage for 40 years under a cover and you have a $400-600k car.

Hoping to make it another 40 years, but you could always pass it down to your kids. I wish I never got rid of my Pontiac Aztek. People would spend big money on it now. Not 6 figures, but worth more than what it was purchased for.

AD says

As a fiat currency hedge, invest no more than 3% of assets or equivalent to one-half of a Bitcoin, whichever is greater.

Bitcoin is the most fiat of fiats. You buy it with fiat. It’s valued in fiat. You sell it for fiat. What it's not is an investment.

Play with it like you would a slot machine. Put your money in in the hopes of a payout, but don't be surprised if you lose it.

AD says

Larry Fink of Blackrock

Had to look him up


Not a fan.

Onvacation says

Not a fan.

Don't bet against Larry Fink, which means don't bet against or count out Bitcoin.

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Thing about gold is that if the price drops 70%, you still got the gold.

If Bitcoin drops 70%, it's probable that all the Bitcoin miners go bust because of the continuing expense of mining it. Then Bitcoin goes to ZERO because it requires the miners to have any value at all.

So, with Bitcoin there is an event horizon where it gets sucked into nothingness.

AD says

Don't bet against Larry Fink, which means don't bet against or count out Bitcoin.

BUY NOW OR BE PRICED OUT FOREVER!!!

SoTex says

Because of the volatility? That's how I've made a ton of money from it.

Market timing?

Misc says

Thing about gold is that if the price drops 70%, you still got the gold.

If Bitcoin drops 70%, it's probable that all the Bitcoin miners go bust because of the continuing expense of mining it. Then Bitcoin goes to ZERO because it requires the miners to have any value at all.

So, with Bitcoin there is an event horizon where it gets sucked into nothingness.

This guy gets it. Trade it in the meantime if you like risk. 95% likely don't have the appetite for it. So you have 5% of crypto buyers on the planet and it's likely that 90% is owned by 10 people and the others lost their key and don't even know they own any.

1) "J.P. Morgan Chase CEO Jamie Dimon have called it a "bubble"[130] and a "fraud",[131] respectively. However, Dimon said later he regrets calling Bitcoin a fraud"

https://en.wikipedia.org/wiki/Cryptocurrency_bubble#Characterization_as_'bubble'

2) https://en.wikipedia.org/wiki/Economics_of_bitcoin#Obituaries