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by trident1000 2068 days ago
Theres people who use it for certain things, like PornHub just started accepting BTC payments.

But there has never been more institutional and high net worth interest in BTC than now as a value store and adoption for a global reserve currency (we can see this from the institutional gateway inflows). Some recent examples: Microstrategy invested $425 million in BTC over treasuries. Twitter bought $50 million the other week (and Jack Dorsey owns BTC personally). Paul Tudor Jones bought in with about 2% of his total assets. Its gaining traction in this area as a value store.
1 comments
SQueeeeeL 2068 days ago
Wait, that sounds like fraud. The CEO of a company had the company he runs buy into a limited asset he also owns...

Gg society, the fact that we're talking this up like it's a good thing means most of us deserve to be poor af

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oarsinsync 2068 days ago
It's only (potential) fraud if he doesn't disclose his stake as a potential conflict of interest.

I'm not suggesting that Twitter investing in BTC is or isn't a good thing, but the CEO having a personal stake should not prevent the company from investing if there's suitable expectation of positive returns for the business.

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trident1000 2068 days ago
Sounds a little dramatic (especially since 50 million isnt moving the price single handedly). Also stock buybacks are essentially the same thing (if you were to call it a conflict of interest) and almost every company in existence does that.
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SQueeeeeL 2068 days ago
You just talked about Twitter buying BTC as important news showing it's viability though... It's mostly a popularity/buzz game.

Also yeah, stock buybacks were illegal up until 1982 and since there legalization we've seen large trades in companies from R&D spending towards buyback spending...

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trident1000 2068 days ago
I mentioned several noteworthy people and institutions making an investment to demonstrate a trend. "its mostly a popularity/buzz game" yeah thats how value networks work. From gold to cash to facebook.
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SQueeeeeL 2068 days ago
Yeah, I don't think we're in disagreement. Buying a commodity personally, and then using an institution under your control to buy that commodity and create publicity/network effects is just great business (for personal enrichment). It probably isn't even illegal!
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