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

[polychronopolous]

Camping World Begins Accepting Bitcoin for RV Purchases

Recreational vehicle retailer Camping World Holdings (NYSE:CWH) says people can now purchase an RV using cryptocurrencies.

In an arrangement with cryptocurrency payment service provider BitPay, Camping World will begin accepting Bitcoin, Ethereum, and other select cryptocurrencies using various digital wallets. The program will launch at two dealerships initially, but will soon be available at all Camping World dealerships and on its e-commerce platform.

Camping World was something of a surprise play on the COVID-19 pandemic as RV sales soared as people sought to escape to the great outdoors while the country was locked down. Revenue soared 11% in 2020 to $5.4 billion while profits soared 32% to $1.7 billion from the year-ago period as it grew active customers to over 5.3 million.

Cryptocurrencies also rocketed higher with Bitcoin rising from around $7,600 a year ago to almost $54,000 today, having recently hit a high of over $63,000. Ethereum went from $195 last year to $2,500 today.

Acceptance of cryptocurrencies as a valid substitute for cash continues to expand.

"As the industry leader, we have a responsibility to adapt to new preferences and elevate the customer experience, whether through the products and services we offer, or in the ways we interact and transact with the customer," Camping World chairman and CEO Marcus Lemonis said. "Accepting cryptocurrency is simply another part of our vision to make RVing easy in an increasingly digital world."

https://www.fool.com/investing/2021/04/26/camping-world-begins-accepting-bitcoin-for-rv-purc/

[Mayday]

One last dip to 32k and we should be ready for a rally up! 

[Bindare_Dundat]

One last dip to 32k and we should be ready for a rally up! 

I heard it was 20k.

Its rumored Tesla sold over 200M in BTC. Lots of channels talking about it now with the usual musings. 

[Mayday]

I heard it was 20k.

Its rumored Tesla sold over 200M in BTC. Lots of channels talking about it now with the usual musings.

Tesla rebalanced their treasury which is normal.

There are certain regulations around income from assets and so forth. I’m not totally across the US stuff but generally wherever your income stream comes from classifies your business which is why their Treasury balances according to performance to ensure nothing gets out of whack.

It works well for a Tesla because they have plenty of coins to fuel the future. That’s why Saylor tells business to buy BTC now as it effectively pays your debt off and funds future operations.

[gib]

Tesla rebalanced their treasury which is normal.

There are certain regulations around income from assets and so forth. I’m not totally across the US stuff but generally wherever your income stream comes from classifies your business which is why their Treasury balances according to performance to ensure nothing gets out of whack.

It works well for a Tesla because they have plenty of coins to fuel the future. That’s why Saylor tells business to buy BTC now as it effectively pays your debt off and funds future operations.

Yes, correct. Also, it might well be that when the valuation increases you have to sell under your allocation mandate. So, if the board of Tesla authorised a 10% cash allocation to BTC, and that valuation gets to 15%, you would need to sell off 5%. Same with hedge funds which might have a mandated limit on exposure to any one asset.

[Mayday]

Q

[polychronopolous]

Capitulation.


JP Morgan Launches Bitcoin Fund For Rich Clients After Years Of Bashing Crypto


Ever since JP Morgan CEO Jamie Dimon first denounced bitcoin waaaaay back during the heady crypto-rally of 2017 (shortly before we revealed that JP Morgan's asset-management arm was seemingly buying the dip on behalf of its wealthy clients via a Scandinavian ETN), teams of strategists employed by the bank have produced a steady stream of bearish reports warning its clients about the risks of investing in bitcoin.


But in a sudden reversal, JPMorgan's traders - once threatened with firing should they dare touch bitcoin - will soon get their chance to trade the pioneering cryptocurrency on the bank's behalf. In news that's hitting just as bitcoin prices climb back from a Sunday dip, CoinDesk reported Monday morning that JP Morgan Chase will soon launch its own actively managed bitcoin fund, making JPM the latest US megabank to embrace hawking crypto assets (rather than struggling to co-opt blockchain technology for its own purposes).

 The fund, which could launch as soon as this summer, will reportedly involve institutional ship NYDIG, which will serve as JPM's bitcoin custody provider. In a notable break from other passively managed bitcoin funds offered by Galaxy Digital and Grayscale, JPM's crypto fund will be "actively managed" (allowing the bank to charge higher fees).



Like those other funds, the JP Morgan fund will allow institutions and wealthy clients to buy exposure to bitcoin without actually having to buy, store and secure their own coins. The fund will be offered to the bank's "private wealth" clients, which mostly caters to wealthy individuals and family offices.

JPM has come close to offering bitcoin-linked products before. Back in March, its investment bank issued its first crypto-adjacent investment product, a structured note tied to the performance of bitcoin proxy stocks like MicroStrategy and Riot Blockchain.

Now that the bank has been exposed for quietly accumulating its own bitcoin position, we couldn't help but notice that JPM - which was bashing bitcoin as recently on Friday - hasn't published a new note arguing that downward momentum might reemerge. Dimon infamously warned that he would "fire in a second" any JPM trader who touched bitcoin. "If you’re stupid enough to buy it, you’ll pay the price for it one day," he said at the time. Though Dimon quickly walked back these comments at the time, we would love to hear JPM explain away these comments while pitching its new bitcoin product to some of its most lucrative private clients.

https://www.zerohedge.com/crypto/jp-morgan-launches-bitcoin-fund-rich-clients-after-years-bashing-crypto

[gib]

The CEO of PayPal predicted that in the next five to 10 years, there will be many changes in the financial system, compared to the last two decades.
He also noted that the demand for cryptocurrencies exceeded PayPal's initial expectations after the company began cryptocurrency transactions in late 2020.
Demand for cryptocurrencies has been several times higher than we initially expected," PayPal CEO and CEO Dan Schulman told Time magazine in an interview with Time magazine on Sunday. There is a lot of excitement."
Existing financial infrastructure needs to be modernized, Schulman said. This system is inefficient today due to the high cost and slowness of international transactions. The CEO predicted that the financial system would be ready to see more change in the next five to 10 years than in the past two decades.
"In the next ten years, you will see a dramatic decline in cash use," he said. All payment invoices are included in the mobile phone. Credit cards will disappear as a payment invoice and you will use your mobile phone. Because mobile phones can add a lot more value than just tapping on your credit card. "
As people stop using paper money, central banks need to reconsider their monetary policy, Schulman said. The central bank said digital currencies could benefit from emerging technologies such as distributed head office. "But they are essentially digitizing Fiat currency, like the US dollar," Schulman noted.
PayPal announced its plans to introduce the ability to buy, hold and sell a number of cryptocurrencies, including Bitcoin (BTC) and (ETH), in October 2020. When the new feature launched in the United States in mid-November 2020, bitcoin was trading at around $ 16,000. After that, the world's largest cryptocurrency faced a massive rally, pushing its price to a new all-time high of more than $ 64,000 in April.
Amid rising prices and demand for cryptocurrencies, PayPal continued to expand its cryptographic services to customers, launching its cryptographic exit services in late March to enable traders to pay. Last week, PayPal introduced the Venmo payment platform for cryptocurrencies for four popular cryptocurrencies, including Bitcoin, LightCoin and BitcoinCash.

Source: https://cointelegraph.com/news/demand-for-paypal-s-crypto-offering-exceeded-all-expectations-ceo-says

[El Diablo Blanco]

The CEO of PayPal predicted that in the next five to 10 years, there will be many changes in the financial system, compared to the last two decades.
He also noted that the demand for cryptocurrencies exceeded PayPal's initial expectations after the company began cryptocurrency transactions in late 2020.
Demand for cryptocurrencies has been several times higher than we initially expected," PayPal CEO and CEO Dan Schulman told Time magazine in an interview with Time magazine on Sunday. There is a lot of excitement."
Existing financial infrastructure needs to be modernized, Schulman said. This system is inefficient today due to the high cost and slowness of international transactions. The CEO predicted that the financial system would be ready to see more change in the next five to 10 years than in the past two decades.
"In the next ten years, you will see a dramatic decline in cash use," he said. All payment invoices are included in the mobile phone. Credit cards will disappear as a payment invoice and you will use your mobile phone. Because mobile phones can add a lot more value than just tapping on your credit card. "
As people stop using paper money, central banks need to reconsider their monetary policy, Schulman said. The central bank said digital currencies could benefit from emerging technologies such as distributed head office. "But they are essentially digitizing Fiat currency, like the US dollar," Schulman noted.
PayPal announced its plans to introduce the ability to buy, hold and sell a number of cryptocurrencies, including Bitcoin (BTC) and (ETH), in October 2020. When the new feature launched in the United States in mid-November 2020, bitcoin was trading at around $ 16,000. After that, the world's largest cryptocurrency faced a massive rally, pushing its price to a new all-time high of more than $ 64,000 in April.
Amid rising prices and demand for cryptocurrencies, PayPal continued to expand its cryptographic services to customers, launching its cryptographic exit services in late March to enable traders to pay. Last week, PayPal introduced the Venmo payment platform for cryptocurrencies for four popular cryptocurrencies, including Bitcoin, LightCoin and BitcoinCash.

Source: https://cointelegraph.com/news/demand-for-paypal-s-crypto-offering-exceeded-all-expectations-ceo-says

Wow, the CEO of PayPal pushing for a future with no cash use.  Hmmm, seems like he has another motive to push a service that is cashless.  Wonder what that could be? Oh yea, Paypal.

[Griffith]

https://u.today/ether-his-new-all-time-high-as-european-unions-bank-chooses-ethereum-to-issue-2-year-bonds

Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds

The European Investment Bank will issue 2-year bonds on the Ethereum blockchain

The European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing 2-year bonds due Apr. 28, 2023, on the Ethereum blockchain, Bloomberg reports.     

Their issuance will be managed by such banking giants as Goldman Sachs, Santander Group, and Societe Generale.

Founded in 1958, the European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders. 

Societe Generale issued its first bond on the Ethereum blockchain to itself back in April 2019 in order to trial the technology. Santander also redeemed its own $20 million bond in December 2019 to show that Ethereum is applicable for debt security management.           

Ether, the native token of the Ethereum network, hit a new all-time high of $2,683 at 4:02 p.m. UTC on the Bitstamp exchange. Ether is up over 270 percent in 2021. 

[gib]

https://u.today/ether-his-new-all-time-high-as-european-unions-bank-chooses-ethereum-to-issue-2-year-bonds

Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds

The European Investment Bank will issue 2-year bonds on the Ethereum blockchain

The European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing 2-year bonds due Apr. 28, 2023, on the Ethereum blockchain, Bloomberg reports.     

Their issuance will be managed by such banking giants as Goldman Sachs, Santander Group, and Societe Generale.

Founded in 1958, the European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders. 

Societe Generale issued its first bond on the Ethereum blockchain to itself back in April 2019 in order to trial the technology. Santander also redeemed its own $20 million bond in December 2019 to show that Ethereum is applicable for debt security management.           

Ether, the native token of the Ethereum network, hit a new all-time high of $2,683 at 4:02 p.m. UTC on the Bitstamp exchange. Ether is up over 270 percent in 2021.

Wow that's quite an endorsement.

[Flexacon]

Wow that's quite an endorsement.

Still not too late to buy some ethereum. It might be the Pepsi to bitcoins Coke right now, but look how it performed when bitcoin took a recent dump. We also already know if bitcoin bulls so will eth. Now don't forget about eth2.0. If that succeeds it's only gonna rocket!

[Bindare_Dundat]

i think were going to hover around this 54k range for a while before correcting, this was way too fast and large a rally imo. I would not fomo into this. Take profit or set your stop loss. a retrace back to 51k area is a real possibility.

Hope you guys are taking profits on the way up. I sold  most of my Eth again at 2680. lol Dont fall in love with these things. Sell the FoMO and buy the dips. Dont be afraid to sell. You can always buy back in anytime if need be.   These things usually retrace to test past resistance levels.  Lots of opportunities with other projects as well.

The 51k retest has moved to around 52-53k since this post regarding BTC.

[Bindare_Dundat]

Wow that's quite an endorsement.

Yeah and if you had swapped your btc for eth you would have killed it. then you could have swapped  back to btc at a discount today. Obsidian had a great point regarding doing stuff like that. Could pay off handsomely.

[Griffith]

Yeah and if you had swapped your btc for eth you would have killed it. then you could have swapped  back to btc at a discount today. Obsidian had a great point regarding doing stuff like that. Could pay off handsomely.

When BTC started its dip I swapped all for ETH.

My overall portfolio has increased in BTC value.

For now, I think ETH still has a lot more upside potential.

Probably easier for ETH to 2X or more in a lower time-frame than BTC.

And with lower BTC dominance and 'alt-season' kicking off it's a good time to try make some profits with other coins.

[Griffith]

What's the advantage of using stablecoins instead of USD on an exchange? On Binance for example you can sell into USD or Tether. I have been going the USD route in past trades. The fees did not seem that high. I know stablecoins offer better interest rates but if you are only going to wait a few weeks or months the interest payouts won't be that much.

To hedge against local currency devaluation.

So for me holding USDC will be the same as having USD.

[Bindare_Dundat]

When BTC started its dip I swapped all for ETH.

My overall portfolio has increased in BTC value.

For now, I think ETH still has a lot more upside potential.

Probably easier for ETH to 2X or more in a lower time-frame than BTC.

And with lower BTC dominance and 'alt-season' kicking off it's a good time to try make some profits with other coins.

Agreed,  its a bit of a gamble but one Im willing to take.

Holding Vechain, Chainlink, Solano, Ada, Still have som Eth and all my BTC.

[polychronopolous]

Nexon Joins Tesla in Bitcoin Bet With $100 Million Purchase

(Bloomberg) -- Nexon Co. said it bought $100 million worth of Bitcoin, joining a list of tech companies embracing the digital currency.

The online game provider acquired 1,717 Bitcoins at an average price of about $58,226 each, including fees and expenses. The purchase represents less than 2% of Nexon’s total cash and cash equivalents on hand, and is the largest-ever purchase of digital currency made by a company traded in Tokyo, Nexon said.

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” Owen Mahoney, Nexon’s chief executive officer, said in a statement. “In the current economic environment, we believe Bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

A growing number of global firms including Tesla Inc. and Square Inc. have moved to purchase Bitcoin in recent months, with more starting to accept the cryptocurrency as a form of payment. Firms in Japan, which was an early leader in Bitcoin acceptance, have been slow to join this trend.

Nexon said it intended to guard itself against a potential drop in the value of non-digital currencies in case of inflation, with Mahoney seeing Bitcoin as a “form of cash likely to retain its value, even if it is not yet widely-recognized as such.”
 

 https://finance.yahoo.com/news/nexon-joins-tesla-bitcoin-bet-001941487.html

[El Diablo Blanco]

Nexon Joins Tesla in Bitcoin Bet With $100 Million Purchase

(Bloomberg) -- Nexon Co. said it bought $100 million worth of Bitcoin, joining a list of tech companies embracing the digital currency.

The online game provider acquired 1,717 Bitcoins at an average price of about $58,226 each, including fees and expenses. The purchase represents less than 2% of Nexon’s total cash and cash equivalents on hand, and is the largest-ever purchase of digital currency made by a company traded in Tokyo, Nexon said.

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” Owen Mahoney, Nexon’s chief executive officer, said in a statement. “In the current economic environment, we believe Bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

A growing number of global firms including Tesla Inc. and Square Inc. have moved to purchase Bitcoin in recent months, with more starting to accept the cryptocurrency as a form of payment. Firms in Japan, which was an early leader in Bitcoin acceptance, have been slow to join this trend.

Nexon said it intended to guard itself against a potential drop in the value of non-digital currencies in case of inflation, with Mahoney seeing Bitcoin as a “form of cash likely to retain its value, even if it is not yet widely-recognized as such.”
 

 https://finance.yahoo.com/news/nexon-joins-tesla-bitcoin-bet-001941487.html

lol but didn't Tesla buy them for $35K?

Today Musk called himself the Dogefather on Twitter.  lol.

[polychronopolous]

lol but didn't Tesla buy them for $35K?

Today Musk called himself the Dogefather on Twitter.  lol.

I wish him and Cuban would knock that shit off, it's a really bad look.

Just yesterday, there was this goofy young guy in my neighborhood, bragging about "how much money he was making trading 'dog' coin"

Reminds me of some of the hot shot "wheelers and dealers" we have in this thread. They always seem to "get in and out" at the exact right time 

[Humble Narcissist]

I wish him and Cuban would knock that shit off, it's a really bad look.

Just yesterday, there was this goofy young guy in my neighborhood, bragging about "how much money he was making trading 'dog' coin"

Reminds me of some of the hot shot "wheelers and dealers" we have in this thread. They always seem to "get in and out" at the exact right time 

It is Getbig.

[Flexacon]

I wish him and Cuban would knock that shit off, it's a really bad look.

Just yesterday, there was this goofy young guy in my neighborhood, bragging about "how much money he was making trading 'dog' coin"

Reminds me of some of the hot shot "wheelers and dealers" we have in this thread. They always seem to "get in and out" at the exact right time 

Even if it's not aimed at me, I'll more than happily  take the opportunity presented.  After all "It is Getbig"

Ethereum is the other I'll speculate on. Hopefully one of the tech giants support Ethereum or launch a crypto so I can get in early, otherwise crypto as we know will likely dead in a few years. Well until the banks adopt some kinda blockchain, but there won't be much money to be made for us mere mortals there.

 

Back when it was around the $100. A tech giant isn't supporting Eth, but it does look like some banks are and that could be huge!

I'll also throw this in, just because..

This. Recession is inevitable. If not 2020 then very soon.

I've pulled out, bought some silver and waiting for shit to hit the fan.

Avoided the crash and got silver at a great price!

Missed most of the tech stock and bitcoin runs last year, but that was mostly because I was already sitting in a very comfortable great stress free position.

[FitnessFrenzy]

[Flexacon]

That was a genuinely great video. Thanks for posting.

[FitnessFrenzy]

you're welcome, buddy.

I am still pondering whether to invest in some crypto or not.