Topic 178336
Merits
⭐ Merited by Lucius (1)
It's no fun losing your life over a washing machine!

Are you talking from experience?

I thought that there could be something "off" about you.

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Vivek Ramaswamy's 'Strive' plans to raise $500 million through stock offerings. The capital is designated for acquiring additional Bitcoin.
https://bitcoinmagazine.com/news/strive-lines-up-500-to-buy-more-bitcoin
~snip~
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Strive currently holds about 7,525 bitcoin, valued at roughly $695 million at recent market prices. That positions the firm as the 14th-largest publicly traded corporate holder of bitcoin....The company was co-founded in 2022 by entrepreneur and political figure Vivek Ramaswamy. Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to oversee more than $2 billion in assets, according to company disclosures.

So it took him three years to grab about 7500 BTC, now he wants 5000+ BTC overnight which means he realized he was a little late. All those so-called geniuses who discovered Bitcoin in the last few years must be having nightmares where they see people buying BTC for a few hundred or even a thousand dollars.


I had been thinking that there are quite a few folks who ar presuming BTC prices to go back to below $70k (which coincidentally was the BTC price prior to the Trump pump), and there have been times in bitcoin's history where certain stair steps UPpity take place and the price does not go back down to those earlier steps... yet we might not know for years and years and years that certain price points are never going to be reached again, ever.

Historically, one of the best ways to prepare for such UPpity stairsteps is to always be buying, and don't be fucking around trying to figure out dips or no dips.  Sure, if some dips happen to fall within your ongoing buying and you ar able to spare some extra money during the dips, then no problem go ahead and buy a little extra - even though it has been a more sound practice to have had always had been buying, and likely those kinds of times are not going to go away in the future, even though we have BIGGER players in the mix who are trying to make it seem as if BTC price dynamics have changed beyond our earlier and sometimes uncomfortable patterns.

There are guys who get maniacally focused on buying the dip and trying to figure out how to buy bitcoin in a most efficient way, and many times the guys who had been ongoingly buying, even if their cost might have ended up being a wee bit higher than they could have had been are ending up way better off since they have way more coin than if they had approached bitcoin from a more timid (and whimpy) approach that focuses on dips that may or may not end up happening.  Sure, those dip buyers might get lucky, yet I have my doubts about their doing better than the consistent, persistent, ongoing, regular and perhaps even aggressive buyer of dee coinz.

Regarding the leverage and the use of other people's money, sure it might work for richie folks to be sucking value out of retail in order to get coinz for themselves while retail is stuck with paper claims and still not really realizing the self-custody power of bitcoin.

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LOLLL
Where is the FOMO?  Cheesy Grin Cheesy

That price projection looks very wishful.  I would truly be willing to bet against such a drop, and it seems that a lot of folks are shooting for fantasylandia prices that are horey sheit low, while at the same time, they are going to be quite lucky if they can bring BTC prices below the April 2025 low of $74,434.. and it could well end up being the case that our $80,537 low from November 21 ends up being the low for this local dip (yet it is hard to know, maybe only around 50/50 odds at this time, since we are still ONLY around 15% above that current $80,537 local bottom. 

We get back into a classic and ever repeating situation that involves guys failing/refusing to prepare themselves for either price direction, and in bitcoin especially, the failure/refusal to prepare for up is quite the repeated problem, especially given that we seem to still only have around 1% of world-wide adoption of this asset... so many retail are getting fucked out of Bitcoin while there seems to be a more isolated battle going on and also attempts to co-opt and absorb bitcoin into various centralized and custodial systems, so many folks continue to believe that exposure to bitcoin and bitcoin is the same thing.