Crypto thread

Michael Saylor bought 115,000+ bitcoins at an average price of $27,000 including fees 

Bitcoin is at $63,000 

$36,000 x 115,000 

Profit = $4.14 billion 

This investment forum has too much glitches, I can¡¯t always access this particular thread all the time.  Anyways from what I hear mid Nov onwards will be lots of crazy upwards movement and lots of new ATH for some cryptos, I hope they are right and I¡¯ll be ready to sell some of my cryptos sometimes in Nov for sure.  I haven¡¯t sell anything yet.

Regards to all. I have a budget that I would like to invest in. Can you advise me which currency to choose? Thank you 

Buy Crust (CRU $24) or Phala (PHA $0.77) and hope for a miracle when Polkadot¡¯s parachains start rolling out. 

Here is something for those who are willing to invest for the long long term (long term=hodling until next bull market) that has great potential, you should look into buying Kadena by dollar cost average in it or wait for a big correction if you see under $10 then buy into it and buy more if it goes down more.  Kadena is a proof of work (POW) coin and where BTC and ETH and others POW coin that has failed to scale, they have figured out a way to succeed and able to scale to be the fastest POW coin and maybe fastest coin period.  Kadena being a POW coin means it’s very secure and they don’t give up security to scale and the transaction fees is super cheap.  Right now not many know how good Kadena is and the CEO is confident they will be listed on more exchanges in the future.  I’m sure eventually more developers will realize how amazing their blockchain is and more will be building projects on this.  Right now the price is $16.06 which has pumped significantly over last few wks.  ETH for example will be giving up some security so they could scale by moving to proof of stake (POS) in few months and their transaction fees is really expensive still, even if ETH 2.0 succeeds with POS in a few months they still won’t be anywhere as good like Kadena overall.  Good luck for those long term investors who will look into getting some, my friend suggested this to me few days ago.

It¡¯s up 1,000% over the last 2 months and 10,000% over the last year. 

If you¡¯re buying crypto at these prices you better know when to sell because when winter comes they¡¯ll retrace 95%.

Winter = bear market ¡­ not when it gets cold out 

Long term hodlers in good crypto projects and cryptos with great technology typically will get rewarded BIG at some pt, with that said nothing is guaranteed and be prepare for big ups and downs swings in the crypto market.  When you start to dollar cost average on a monthly basis in a specific crypto you like when it has a descent correction and also add more on descent size dips you should come out ahead in a big way long term.  For Kadena (KDA) I bought some around average price of $17 and will probably sell half whenever it doubles and wait for big dips to start adding more and dollar cost average in when we start going in a bear market at some pt next yr.  I believe the crypto bull cycle won¡¯t end until some pt next yr, if I¡¯m wrong and the bear market comes sooner I will just buy more KDA on big dips and hodl for long term. 

Thanks for sharing.

@Chipsh

MicroStrategy has purchased an additional 7,002 bitcoins for $414.4 million in cash at an average price of $59,187 per bitcoin. As of 11/29/21 we #hodl 121,044 bitcoins acquired for $3.57 billion at an average price of $29,534 per bitcoin.

$6.92 billion worth of Bitcoin 

MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin . As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin.

Bought a good amount of Crust Network over the last few days. 

It¡¯s the only thing I have. Big risk, hopefully big reward. 

Average price around $11 

$CRU 

@I_Need_A_Detox

 How do you see this playing out? What price target can it reach in a few years?

They finally got a parachain on Kusama, hopefully they get on Polkadot next. 

They helped Gavin Wood (built Eth, then founded Kusama/Polkadot) when he was figuring stuff out with Polkadot. 

My gut tells me they¡¯ll be rewarded for that help. I¡¯m hoping the previous pump to $180 wasn¡¯t the reward ¡­ they got the Kusama parachain recently so I think they¡¯re trending towards a pump. 

I think there are 2 scenarios 

1. bitcoin pumps to over $100k and leaves alts behind ¡­ when bitcoin settles alts have one last alt-season before everything dumps into a multi year winter  

2. it¡¯s already over for crypto ¡­ everything is just waiting to dump into a multi-year winter 

I sold everything a while ago ¡­ this is just getting a little skin back in the game incase scenario 1 plays out. 

I¡¯ve cut back on gambling in the last year and invested in crypto. Currently buying Chainlink and Sandbox . Other sleepers I think is StormX and KLAY 

@I_Need_A_Detox

Both of those scenarios are incorrect. BTC is currently in a bear market.  Alts will soar soon enough and then full bear market for years.

Youre all in on alts right now huh? What alts specifically? 

anyone buying the dip? if so what?

MicroStrategy holds 125,051 bitcoins 

And that is why the stock went from 1300 to almost 300, the equity in their holdings is marginal, he used debt to buy not cash flow and has been buying at high levels compared to current prices. If BTC drops to 20k the guy will lose his job and the stock will be under 50.

I do not understand why he purchased in the open market versus buying a miner or setting up a mining company, the return on capital is much higher, I think he is so full of himself he has to keep buying to support his story.

"When it drops to 20k"  If SPY is going to touch 350 then we should expect BTC to touch 20k...  

Hubris is likely the reason 

The stock was $100 on 3.20.20 

The stock is now $375 

Why would you think that you understand how to obtain bitcoin better than he does? 

Please show the math you¡¯re using to come to the conclusion that ¡°buying a miner¡± or setting up a mining company would have a much higher return on capital.