Thomas Peterffy says he owns some cryptocurrency because ‘you have to play the odds’

[johnarb]

I can live in my house or rent it out, stocks pay dividends.

Bitcoin profits rely on me finding a bigger sucker to pay an even higher price than i paid.

You're going on a different direction

We were simply looking at the argument that Thomas Petterfy was putting a small portion of his wealth into bitcoin/cryptos as Pekelo pointed out which I responded to

You're now trying to change it to your crypto hater narrative which is out of scope for this thread. That would belong in the Cryptocurrencies forum

#HaveFunStayingPoor

 

[murray t turtle]

In case of what?

If we own already own real estate and stocks why do you need to own crypto?

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LOL. Good question .
One small reason; if someone made billions, had a brokerage/IBKR, he may want to'' buy a bit'' for the same reason rich people rented pineapples or paid $8,000 for a pineapple,1700's .[Edit\ not saying TP was wrong the first time;nor am i saying crypto is real as real as a pineapple is]
AT least he was honest enough not to call it an investment.................................

 

[SunTrader]

You're going on a different direction

We were simply looking at the argument that Thomas Petterfy was putting a small portion of his wealth into bitcoin/cryptos as Pekelo pointed out which I responded to

You're now trying to change it to your crypto hater narrative which is out of scope for this thread. That would belong in the Cryptocurrencies forum

#HaveFunStayingPoor

Yup probably "...can live in a house .... " that has wheels and is located down by a river.

 

[johnarb]

Yup probably "...can live in a house .... " that has wheels and is located down by a river.

I think real estate is great for its utility with a bonus of value appreciation, but then becomes a significant portion of a person's net worth due to soaring real estate prices

millionaire repeating the same sunk costs and vested interest arguments re: real estate. Imo, it's a home and it's not a liquid asset and many life consequences if engaging in a sale... unless it's not a primary residence and was always purchased as an investment

Real estate and stock markets and bitcoin and cryptos will continue to go up in value. I like Raoul Pal's take on why this is, asset values are inflating due for the same reason the fiat value is being debased

Sorry for OT

 

[IamTheCasino]

Bitcoin profits rely on me finding a bigger sucker to pay an even higher price than i paid.

you act like BTC is a penny stock that is thinly traded. But hey, anything to tell yourself that you will be right in the long run. Too many people believe in BTC at this point. Ive been in BTC since the runup to 5k from 1-2k and now hedgies are starting to officially jump on the boat.

BTC isnt goin anywhere. Some type of regulation wont kill it - it will help it.

lmao, people are fuckin comical online.

 

[murray t turtle]

The news is that he used to say cryptos were really bad and could crash the entire system and the bitcoin futures could take down the CME. That was back in 2017. Now he says he owns them himself.

%%
That CNBC article read like an ''advertorial'', but NOT labeled as such/LOL.
WHAT it sounds like with him now is ; i considered buying some new bags of ''bullcr+p '' @ WMT\but never did because i have enough animals on my place/LOL.
But demand for bullcrap is enough @ WMT for them to sell it. But i think he is still right, bitcon/bitcoin ''has no fundamental value''. Bullcr+p [ a real product\ bitcon is not areal product]has value for those that like fertilizer + no farm/LOL,.