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1
Tenpoundbass
2022 Jun 15, 11:37am
Tenpoundbass
2022 Jun 15, 11:37am
Don't believe what you read, it's clearly fake news, it's all fake news. I have it on good faith from the Patnet smarties that Bitcoin is a strong hedge against inflation.
2
NDrLoR
2022 Jun 15, 9:35pm
NDrLoR
2022 Jun 15, 9:35pm
1337irr says
This was what wiped famous vaudevillian Florenz Ziegfeld (1867-1932) out. Flo was famous for stiffing people who built the elaborate sets of his famous Revues between about 1917 and 1930. He also loved to litigate small sums just for the heck of it because after all, he was the great Flo! As the stock market was crashing in 1929, his broker kept trying to call him to get permission to sell shares that were quickly being wiped out, but he was in court once again on some petty lawsuit and couldn't be reached. After the settlement he returned to his studio to find that he'd been financially wiped out due to his own foolishness. He died only three years later and people who attended him at the end said he would cry like a baby at what he'd lost after the magnificent heights he'd attained in show business.
An investor’s margin account contains securities bought with borrowed money (typically a combination of the investor’s own money and money borrowed from the investor’s broker).
3
richwicks
2022 Jun 16, 12:48am
richwicks
2022 Jun 16, 12:48am
1337irr says
It's federal, state, and local government policy to push up home prices - I think they're going to pull a rabbit out of their ass to keep home prices up. We've been pushed to live in pods for nearly a decade after all.
Things are going to get ugly real fast. Also a 30 year mortgage is now at 7%.
It's federal, state, and local government policy to push up home prices - I think they're going to pull a rabbit out of their ass to keep home prices up. We've been pushed to live in pods for nearly a decade after all.
4
AD
2023 Apr 12, 12:49am
AD
2023 Apr 12, 12:49am
I wonder what the cost basis for Microstrategy's bitcoin holdings.
He should be unloading if he is in the green to at least break even if it goes to $0.
Reminds me of Bruce Berkowitz buying St Joe and owning about 48% of outstanding shares; he has been slowly selling them off and is making some gains. Berkowitz lost a lot with his Sears investments.
He should be unloading if he is in the green to at least break even if it goes to $0.
Reminds me of Bruce Berkowitz buying St Joe and owning about 48% of outstanding shares; he has been slowly selling them off and is making some gains. Berkowitz lost a lot with his Sears investments.
MicroStrategy Inc. may need to post additional collateral for a Bitcoin-backed loan as the price of the world’s largest cryptocurrency tests a key price level of $21,000 flagged by the company.
The software firm controlled by Bitcoin advocate Michael Saylor had used its vast Bitcoin holdings to secure a $205 million loan in March to buy even more cryptocurrency. But as the value of that collateral initially worth around $820 million falls to about half that, the company may need to provide more capital to back the loan.
(Bitcoin is below $21,000)
https://www.bloomberg.com/news/articles/2022-06-14/microstrategy-risks-margin-call-as-bitcoin-drops-below-21-000
Margin Call:
A margin call occurs when the value of an investor’s margin account falls below the broker’s required amount. An investor’s margin account contains securities bought with borrowed money (typically a combination of the investor’s own money and money borrowed from the investor’s broker).
https://www.investopedia.com/terms/m/margincall.asp
Things are going to get ugly real fast. Also a 30 year mortgage is now at 7%.