Bitcoins - about to hit $5,000 per coin today!

[Jakobslander]

$30 Billion State-Managed Pension Fund Invests in Publicly Traded Bitcoin Miners


New Jersey’s pension fund has gained indirect exposure to Bitcoin and cryptocurrencies by investing in their mining companies.

The pension fund with $30 billion in total assets of its state employees took stakes in two of the biggest names, Riot Blockchain and Marathon Digital Holdings.

According to the state-managed pension fund’s disclosure documents, Common Pension Fund D had $3.66 million in Riot Blockchain and $3.39 million in Marathon at the end of June.

RIOT stocks are currently trading at $28.10, down 64% from mid-February all-time high of $77.90, but still up nearly 12% YTD. As for MARA shares, at $24.64, it is down 56.4% from its early April peak of $56.56 but still up 13.6% YTD.

This is New Jersey’s first allocation in the crypto sector, with other state-pension schemes also getting warmer to crypto in recent months, particularly California through its largest public pension in the U.S.

At the end of last year, California Public Employees' Retirement System (CalPERS), with $441 billion in assets, bought more RIOT shares for the first time since 2017 and was holding 113,034 shares in RIOT worth just under $2 million at the time.

https://bitcoinexchangeguide.com/30-billion-state-managed-pension-fund-invests-in-publicly-traded-bitcoin-miners/

This is getting batshit crazy.

Why don't they just come out of the Bitcoin closet and say "we bought a shitload of BTC."

I know the SEC is all up on they b-ness with the announcements but this "miners" and "OTC" bullshit is getting stoopid. It's like me saying "yeah, I bought stock of a company that sells to Amazon."

[Flexacon]

This is getting batshit crazy.

Why don't they just come out of the Bitcoin closet and say "we bought a shitload of BTC."

I know the SEC is all up on they b-ness with the announcements but this "miners" and "OTC" bullshit is getting stoopid. It's like me saying "yeah, I bought stock of a company that sells to Amazon."

Calm down and let's look deeper. Remember this was a maxi posting this. One that's a complete brain dead fool and incapable of any critical thinking.

This pension fund holds nearly 2000 stocks.

Just to put things into perspective it also holds some speculative and highly volatile stocks, often called meme stocks. Their volatility make bitcoin look like a stablecoin.

They hold $13 million worth of AMC and $8 million worth of Gamestop (meme stocks). Now look at their bitcoin mining investments again. It's peanuts and not news worthy at all.

[Flexacon]

Amazon is "definitely" in. Also plans in place for their own coin at some point.


https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/
 

[gib]

LoL

Gib is a good guy, he is a nice maxi 

HoDL has risk. Just ask the XRP HoDLers who are back in a bear market again.

Thanks for those kind words.

Well it is true that last time around in 2018 I sold. (I yes I did disclose that here at the time). My rationale was that there was such a parabolic upward trend that when the "pop" occurred, there would be significant downside. So basically all my coins I had bought at around 3500 I sold after 6 months for around 16000 - one of my best ever ROI's. That sale did not change my view on any of the fundamental qualities of Bitcoin (which I had PAINSTAKINGLY explained to Mr Anabolic). But it was an opportunity to take a nice profit and then rebuy. That one move enabled me to significantly increase the number of coins I had on the rebuy...

This time around, I am pretty much determined to HODL long term (as in at least until the next halvening and the year thereafter, 2025ish). So, I didn't sell at 60, or 65K, and I don't think I would have sold at 100K. Now, having said all that, if I saw a similar parabolic move to something like what happened end of 2017 (for example 400K by end of this year), then yes, something like that would tempt me to take some gains. But even then, I would never entirely sell everything, ever.

But still, for me tBTC s is a long term bet on a one way move (with unpredictable volatility in-between). So, whilst I can say with certainty there will be vol along the way, and whilst I am willing to make a very sure bet on a long term upward direction over time, I don't pretend to myself that I am able to predict the direction and timing for short term movements.

[gib]

Wonder how many short term traders there are here vs hodlers?

Some I suspect have probably have more in and outs that Vince's (CSN MFT BTC) anus...

[Flexacon]

Wonder how many short term traders there are here vs hodlers?

Some have probably have more in and outs that Vince's anus...

I'd call myself a midterm trader. I've sold 90% of the max investment I was willing to put in crypto twice in the last 5 years. Other times I've speculated buying and selling smaller amounts hoping to land a hail mary.

Gib wtf is going on right now in Asia? Has someone major been liquidated? Possibly another Archegos situation?

[Flexacon]

Yep shorters just got blown the fuck up! BTC wick on binance hit 48k in a crazy short squeeze!!



https://mobile.twitter.com/HsakaTrades/status/1419464103853125632


It was on 4chan again. LMAO

https://boards.4channel.org/biz/thread/39159243/you-will-witness-the-biggest-short-squeeze-in

Crazy bullish news about Amazon possibly jumping into crypto, followed by a short squeeze that was predicted on 4chan. God tier manipulation and trolling to do this twice now!

[gib]

I'd call myself a midterm trader. I've sold 90% of the max investment I was willing to put in crypto twice in the last 5 years. Other times I've speculated buying and selling smaller amounts hoping to land a hail mary.

Gib wtf is going on right now in Asia? Has someone major been liquidated? Possibly another Archegos situation?

I literally called a top trader from a fund in Hong Kong only an hour ago. Well according to hom, 3 things. First a major developer in China is massively over-leveraged, and we may see bond defaults (and a cascading effect).

Second is the increased Government intervention on all aspects related to tech, and now more recently other sectors such as education.

Third is China increasing isolate itself from the world, as the world response to its aggressive actions. Eventually that isolation harms trade and that harms GDP.

[gib]

Yep shorters just got blown the fuck up! BTC wick on binance hit 48k in a crazy short squeeze!!



https://mobile.twitter.com/HsakaTrades/status/1419464103853125632


It was on 4chan again. LMAO

https://boards.4channel.org/biz/thread/39159243/you-will-witness-the-biggest-short-squeeze-in

Crazy bullish news about Amazon possibly jumping into crypto, followed by a short squeeze that was predicted on 4chan. God tier manipulation and trolling to do this twice now!

...Squeezed harder than back when Vince's (CSN MFT BTC) sphincter was de-flowered...

Sorry, could not resist.

[Mayday]

I literally called a top trader from a fund in Hong Kong only an hour ago. Well according to hom, 3 things. First a major developer in China is massively over-leveraged, and we may see bond defaults (and a cascading effect).

Second is the increased Government intervention on all aspects related to tech, and now more recently other sectors such as education.

Third is China increasing isolate itself from the world, as the world response to its aggressive actions. Eventually that isolation harms trade and that harms GDP.

Good info gib

Ties in with stuff Flex has said and other things I have come across but that’s more China trying to distance outside impacts on their own market.

Notice how when US loosens fiscal and monetary policy China tightens. Now the US is looking to taper,  China has just started to open its wallet. Opposite flows makes one wonder if. Hi a loosening now is getting ready for another overseas buying spree?

Yep shorters just got blown the fuck up! BTC wick on binance hit 48k in a crazy short squeeze!!



https://boards.4channel.org/biz/thread/39159243/you-will-witness-the-biggest-short-squeeze-in

Crazy bullish news about Amazon possibly jumping into crypto, followed by a short squeeze that was predicted on 4chan. God tier manipulation and trolling to do this twice now!

Awesome pump. I always wondered if this would happen because it’s too delicious going up multiple long resistance points. Illiquid market they pumped like crazy shows you just how easy it is to smash price up. People should be asking ‘if they could do this all along, why didn’t they send it to 42.2k to new liquidity order book weeks ago?’. Does make me wonder what liquidity is left because they just wrecked retail again 😂

I got a chuckle about Amazon because it has been a running piss take meme for a few weeks now.

Bulls always bang on about adoption so bears started position on twitter ‘such and such to announce bitcoin purchase’ as a joke but then make out it was serious. It would get retweeted as a joke
To see which idiots would think it was real.

See the Apple one last week? I saw the original piss take tweet and it got picked up by major media LOL. So they did it with Amazon and the bots grabbed it again and media is posting it as truth lol.

Shows how wrecked our media is. They use bots to scrap tweets and then run clickbait titles because it generates clicks and ad revenue.

But no, no one has purchased and it is one gigantic meme pisstake.

[gib]

Lets see if Elon puts the lazer eyes back on today.

3 of the biggest egos in tech, Musk, Zuck, and Bezos all in the battle to supremacy in the BTC ecosystem.

And don't count Apple or Google out. You can be very sure both are very strategically and secretly working on their plans also.

[Flexacon]

I got a chuckle about Amazon because it has been a running piss take meme for a few weeks now.

Bulls always bang on about adoption so bears started position on twitter ‘such and such to announce bitcoin purchase’ as a joke but then make out it was serious. It would get retweeted as a joke
To see which idiots would think it was real.

See the Apple one last week? I saw the original piss take tweet and it got picked up by major media LOL. So they did it with Amazon and the bots grabbed it again and media is posting it as truth lol.

Shows how wrecked our media is. They use bots to scrap tweets and then run clickbait titles because it generates clicks and ad revenue.

But no, no one has purchased and it is one gigantic meme pisstake.

The amazon hype looks to be mostly because they had a job listing for a digital currency and blockchain specialist.

This volatility is all pretty wild even for bitcoin. $600 million entered the market in 1 minute! Given the craziness and my goal to keep things retarded, I had to pick up some Eth. This was also roughly the time I was planning to buy back in months ago. London fork upgrade isn't far away, Elon is holding Eth and on the off chance the Amazon story could actually hold some truth..

[Theoak*]

Big names reporting earnings this week. Apple, Amazon, Facebook, Microsoft, Tesla, & Google are all set to report. Could they have some news about expanding balance sheets or positive comments about accepting Btc in the future?  They will be asked.

If/When Amazon do accept btc as payment, expect the price  to blow past 64k, much bigger impact on the market than Tesla.  The others will have  to follow suit and could potentially see a 6 figure price. End of year, early 22....

[Theoak*]

Lets see if Elon puts the lazer eyes back on today.

3 of the biggest egos in tech, Musk, Zuck, and Bezos all in the battle to supremacy in the BTC ecosystem.

And don't count Apple or Google out. You can be very sure both are very strategically and secretly working on their plans also.

Musk will get wind of Amazon launch date of accepting btc and front  run them by reinststing btc payments for Tesla, or announce it shortly after.  It would be a really smart move to do so. Microstrategy is due for another  big purchase ~1billion. The dominoes might fall at once.

[gib]

Here's a another possibility of a big mover. Zuck tries joins the party with open-source instead of Diem. So much easier to implement technically, so much less resistance, scrutiny and backlash, and benefits from a common monetary language with the other major platforms.

[OneMoreRep]

All this Amazon nonsense smells like speculative garbage until further notice.

Yes, Amazon posted a job listing for a blockchain specialist. Obviously, Amazon is looking into the crypto ecosystem and will likely make a move into it. As to whether they will accept particular coins, I think those are just speculative attempts at pumping BTC & alt coins. An "inside" revealed that Amazon would likely integrate BTC first, followed by Ethereum, Cardano and Bitcoin Cash. Yesterday, BitBoy (Ben Armstrong) reveals that his insider stated that AMP & Algorand will likely be used as the backbone to facilitate the use of the aforementioned coins. So, now we have 6 crypto projects that will likely be involved in this Amazon initiative towards crypto. But what, what about VeChain? On the China end, they already have a partnership with Amazon. Will they also become part of this group, making it a 7 project initiative by Amazon? But wait, what about PolkaDot?

It just seems like random sources, rumors, experts etc, all trying to pump their favorite cryptos. Moreover, I wouldn't be surprised if all this bullshit is slowly being ignited by institutional traders to set their stage.

"1"

[Mayday]

They tried Amazon news in 2017. Seriously, it’s a twitter meme game where people try and create a crypto headline then everyone retweets to try and get media to pick it up. It’s pretty cool to see it work.

Meanwhile 1.14B in liquidations. I got Elon’s tweet, rode a 30s pump and bailed. Works every time. I have some Doge right now but only 3k worth. Fuck it, have a bit of fun lol.

Don’t Tesla release their results today or is that tomorrow? We will see if they hold BTC. If they do, I reckon that will be enough to fuel an all in apeshit run.

[gib]

Yes, Tesla today. Stay tuned and lets see if Elon gives Sats their mojo back.

[polychronopolous]

Wonder how many short term traders there are here vs hodlers?

Some I suspect have probably have more in and outs that Vince's (CSN MFT BTC) anus...

Been accumulating since 2017 and haven't sold a single satoshi.

I'm kind of like you, I'll probably wait a couple more halvings before I think about selling a little bit of it.

[Flexacon]

All this Amazon nonsense smells like speculative garbage until further notice.

Yes, Amazon posted a job listing for a blockchain specialist. Obviously, Amazon is looking into the crypto ecosystem and will likely make a move into it. As to whether they will accept particular coins, I think those are just speculative attempts at pumping BTC & alt coins. An "inside" revealed that Amazon would likely integrate BTC first, followed by Ethereum, Cardano and Bitcoin Cash. Yesterday, BitBoy (Ben Armstrong) reveals that his insider stated that AMP & Algorand will likely be used as the backbone to facilitate the use of the aforementioned coins. So, now we have 6 crypto projects that will likely be involved in this Amazon initiative towards crypto. But what, what about VeChain? On the China end, they already have a partnership with Amazon. Will they also become part of this group, making it a 7 project initiative by Amazon? But wait, what about PolkaDot?

It just seems like random sources, rumors, experts etc, all trying to pump their favorite cryptos. Moreover, I wouldn't be surprised if all this bullshit is slowly being ignited by institutional traders to set their stage.

"1"

This is a great point. Griffith and others have made a few posts about how buying never really stopped amongst whales. Also remember a lot of Banks intend to start offering crypto to their customers. Great business for them if the can buy it cheap, pump it and offer it to customers.

The other thing the comes to mind is what happened with apple stock a few years ago. There was a huge FUD camp to get retail to sell, meanwhile big players and institutions bought in and once retail was out it rocketed.

[Flexacon]

They tried Amazon news in 2017. Seriously, it’s a twitter meme game where people try and create a crypto headline then everyone retweets to try and get media to pick it up. It’s pretty cool to see it work.

Meanwhile 1.14B in liquidations. I got Elon’s tweet, rode a 30s pump and bailed. Works every time. I have some Doge right now but only 3k worth. Fuck it, have a bit of fun lol.

Don’t Tesla release their results today or is that tomorrow? We will see if they hold BTC. If they do, I reckon that will be enough to fuel an all in apeshit run.

I think in 2017 Amazon had an actual crypto (might have eth) webpage on their site.

The bots however have definitely taken things to a new level of absurdity though when it comes to pumping and dumping. Back in Jan/Feb there was a coordinated effort to prove the existence of bots in pumping stocks and crypto, so people starting posting $ASS and $CUM and bots believing they were real tickers started pumping them.

[OneMoreRep]

This is a great point. Griffith and others have made a few posts about how buying never really stopped amongst whales. Also remember a lot of Banks intend to start offering crypto to their customers. Great business for them if the can buy it cheap, pump it and offer it to customers.

The other thing the comes to mind is what happened with apple stock a few years ago. There was a huge FUD camp to get retail to sell, meanwhile big players and institutions bought in and once retail was out it rocketed.

My angle has become diversification. I still keep money in the market (utility stocks and also big companies like Amazon, Walmart etc), Real Estate investment properties, Notes (Lease with Option to Purchase Contract), foreign market investments and as of recent cryptocurrencies.

What I now enjoy is asking experienced crypto investors what their top 10 cryptos within their portfolios are and why. I am looking to keep at least 5-10 solid cryptos in my portfolios and invest roughly about 5-10K in each one, that's it. My thought is that if I can hit home runs with 2-3 of them and see an amazing return, I would be happy. The other 7 cryptos or so that strike out are just lessons learned.

I also can't bet the house on BitCoin. I think $BTC has a world of potential and it's still the center of the universe when it comes to crypto (with a gravitational pull that drags everyone up or down with it), but tomorrow things can change. To assume that all other coins besides $BTC are shitcoins is incorrect in my opinion. These massive institutions wouldn't be betting all this money on the top 10 coins if they had that sentiment. Also, when you read about what places like China are doing to $BTC, you realize that if they have 2 preferred cryptos, those cryptos could very well make a splash down the line. Likewise, I see potential in projects like Ethereum, who in many ways could dethrone $BTC. That said, I am very much a novice and still taking it all in.

One day, I'd love for some of you to share your top 10 cryptos and your reasonings for why you hold them.

"1"

[Griffith]

https://www.bloomberg.com/news/articles/2021-07-26/bitcoin-surges-toward-40-000-level-extending-recent-recovery

More than $950 million of crypto shorts liquidated

[Flexacon]

My angle has become diversification. I still keep money in the market (utility stocks and also big companies like Amazon, Walmart etc), Real Estate investment properties, Notes (Lease with Option to Purchase Contract), foreign market investments and as of recent cryptocurrencies.

What I now enjoy is asking experienced crypto investors what their top 10 cryptos within their portfolios are and why. I am looking to keep at least 5-10 solid cryptos in my portfolios and invest roughly about 5-10K in each one, that's it. My thought is that if I can hit home runs with 2-3 of them and see an amazing return, I would be happy. The other 7 cryptos or so that strike out are just lessons learned.

I also can't bet the house on BitCoin. I think $BTC has a world of potential and it's still the center of the universe when it comes to crypto (with a gravitational pull that drags everyone up or down with it), but tomorrow things can change. To assume that all other coins besides $BTC are shitcoins is incorrect in my opinion. These massive institutions wouldn't be betting all this money on the top 10 coins if they had that sentiment. Also, when you read about what places like China are doing to $BTC, you realize that if they have 2 preferred cryptos, those cryptos could very well make a splash down the line. Likewise, I see potential in projects like Ethereum, who in many ways could dethrone $BTC. That said, I am very much a novice and still taking it all in.

One day, I'd love for some of you to share your top 10 cryptos and your reasonings for why you hold them.

"1"

Until my mid 20s I never thought I'd need to bother with all this. Very few people invested in stocks in the UK if it wasn't a part of their job. You worked, saved, bought a house, paid into pensions etc and you were safe. If as a couple you both worked, then you'd have enough money to buy a second home in France or Spain to spend your summers. 2008 fucked all that up.

Your strategy (which was one of the first things I tried to teach myself) would be considered very conservative even including crypto by the "modern" retail investor. It's all about putting everything into 2 or 3 stocks/cryptos with good fundamentals, leaders you believe in and going long. Other than buying some property, that's exactly what I've done. Let's hope no one (more likely me) doesn't get rekt!

[Theoak*]

Amazon denies reports its accepting crypto this year.