Exactly. He probably invested less than 1% ($180 million -> 9000 BTC) of his net worth. Far from average crypto monkey with 100% investment in crypto and in a -90% drawdown.
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Bitcoin Could Become Worthless, But Billionaire Thomas Peterffy Will Buy More on its Way Down
- Thread starter johnarb
- Start date
Exactly. He probably invested less than 1% ($180 million -> 9000 BTC) of his net worth. Far from average crypto monkey with 100% investment in crypto and in a -90% drawdown.
This guy is a billionaire, obviously a genius. If he's buying bitcoin than I am putting every cent, every single cent I can gather and going to keep buying the dip even down to 0.01. I believe in this guy, going to make the smart bet and ride the smart / big money players.
Easy there little Padawan... Bill Hwang was also a billionaire UNTIL just recently.
Billionaires can afford to play with very risky assets, boys. They have more they can spend, so the government is after their pockets. They throw their money to shitty investments just because they can, they are laughing at us big time.
You guys on the contrary are looking at the penny differences at the supermarket when buying butter, notice the difference.
And notice that Johnny is posting in big words that Bitcoin is going to become worthless. A new era has begun.
You guys on the contrary are looking at the penny differences at the supermarket when buying butter, notice the difference.
And notice that Johnny is posting in big words that Bitcoin is going to become worthless. A new era has begun.
Oh yes, and here's another Billionaire that, the FBI re-vamped their interest into this month. Has anyone seen the Crypto-Queen around?
Apparently, the FBI has reasons to believe she may still be alive & well, also escorted with guards with guns. Though theory has it she's already been killed by the mob or arabs she stole from with her OneCoin scam.
Apparently, the FBI has reasons to believe she may still be alive & well, also escorted with guards with guns. Though theory has it she's already been killed by the mob or arabs she stole from with her OneCoin scam.
I find his take pretty wrong in several ways.
First, Cryptos have (I’d argue only) two useful purposes vis a vis the already largely electronic USD. 1) Speculation and trading. 2) Avoiding legal mechanisms (ie. tax evasion and illicit transactions). The other “benefits” such as anonymity or democracy, are either just false or hype created by those who happen to own a bunch of it.
The second purpose is rapidity being eliminated by regulation, and the first is rapidly being adopted by wall st and the mainstream financial institutions. They can make money from customers as they do in other tradeable assets.
Crypto is here to stay.
Nobody knows the price direction. It’s the same as oil or gold or whatever. But I seriously doubt it goes to zero. Just as Gold or Oil doesn’t. Or at least if it did, it won’t stay there for long.
But I disagree high inflation is here to stay. As much as we enjoy pretending the old rules don’t apply, and that the powers that be are evil and are out to get us, the fact remains monetary policy wield tremendous influence. Remember, “central” bank.
Yes, after the sheer size of Covid easing, the fed has to induce recession to cure inflation, and the good news, it’s temporary, as it was for Volker oh those many years ago. I agree the war and supply chain issues etc. are affecting the output side of the money supply/economic output equation. But they aren’t the primary factor.
First, Cryptos have (I’d argue only) two useful purposes vis a vis the already largely electronic USD. 1) Speculation and trading. 2) Avoiding legal mechanisms (ie. tax evasion and illicit transactions). The other “benefits” such as anonymity or democracy, are either just false or hype created by those who happen to own a bunch of it.
The second purpose is rapidity being eliminated by regulation, and the first is rapidly being adopted by wall st and the mainstream financial institutions. They can make money from customers as they do in other tradeable assets.
Crypto is here to stay.
Nobody knows the price direction. It’s the same as oil or gold or whatever. But I seriously doubt it goes to zero. Just as Gold or Oil doesn’t. Or at least if it did, it won’t stay there for long.
But I disagree high inflation is here to stay. As much as we enjoy pretending the old rules don’t apply, and that the powers that be are evil and are out to get us, the fact remains monetary policy wield tremendous influence. Remember, “central” bank.
Yes, after the sheer size of Covid easing, the fed has to induce recession to cure inflation, and the good news, it’s temporary, as it was for Volker oh those many years ago. I agree the war and supply chain issues etc. are affecting the output side of the money supply/economic output equation. But they aren’t the primary factor.
In spite of what you learn in school or the comments of central bankers, central banks have no independent power. They are slaves to the the legislative branch of governments who give the central banks their marching orders.
Legislative bodies, with their never ending spending projects, are inflationastas and inflation is the inevitable result.
Petterffy is no fool and I take his foray into the scam as nothing more than a call option on continued societal lunacy.
Also, he probably wants to justify allowing the con to trade on his platform
Also, he probably wants to justify allowing the con to trade on his platform