@johnarb As of half hour ago I believe. GameStop’s purchase of 4,710 bitcoin marks its first cryptocurrency purchase since it announced earlier this year that it would make bitcoin a treasury-reserve asset
It's disappointing, SemperF gme got $1.5B from sale of 0% convertible bond to buy bitcoin, but only spent $500M and at the time they closed the deal, price of bitcoin was low $80k even went below $80k, and it looks like gme purchased above $100k so they missed out on profits that could be used for this upcoming earnings release market reaction to the news is not good so far and this is on a down day for bitcoin Maybe gme will purchase more bitcoin in the future, have to wait and see
I wouldnt blame them for wanting to scale in to a certain extent but yeah the timing is off.80-90 scale in would have been genius. Im assuming it was redtape etc but they have been sitting on that cash for a long while now.
@TrailerParkTed It's better to be lucky than good I sold all my gme call options less than 30 minutes before market close to buy more mstr call options gme purchased bitcoin above $96k when they had a chance to buy in the $70k's, disclosed during earnings release
John I posted on a few sites I thought Cohen was going to dilute the holders(The price was $35, I had just sold my June $30s for a nice gain) something felt off, the buying of BTC above $100,000 instead of the recent lows once again proved Cohen is inept. I thought you sold and were in CRCL and CEP?
I did get out of gme calls, at about break even , but I bought back gme calls higher strike price, that I sold yesterday before market close at about 45% loss, it was a gme earnings call trade, wanted to hear the details of the bitcoin purchase, which were disappointing... I don't own crcl or cep , at the moment, difficult for me to buy into Circle, they are not profitable whilst Tether with only 100 employees is more profitable than Blackrock It shows how "inept" the Circle-Coinbase, et al team is, they only have to issue $-backed stablecoin USDC and buy treasuries and profit billions of $ per year, but unfortunately, they have a lot of expenses for partnerships and incentives and marketing This is not to say the share price of crcl won't keep going up, though... But the organic growth and adoption belongs to the first mover Tether usdt CEP I did have but only profited very little, I bought mtplf shares as a long term hold and I also hold a bunch of different strikes of mstr... at a loss m2m on all mstr calls, except for one I'm holding from last year Got whipsawed on asst and kdly (now naka), tl;dr On a less depressing item, my only altcoin holding SPX hit ath today and bitcoin which is long term hold has been above $100k for over 30 days glass is half full Hope you're doing well with your trades, T-Ted!
I guess GME got a knock out punch from the competition. Roaring Kitty is (was?) holding 5 million shares... But if he was selling CCs on them (as I would have) he should still be in the green.
I can't help but wonder why there is no player in this space yet who will pass on the yield to the holder of the token. If USDT is earning 4%, and hence making billions, shouldn't there be a player who sees that if they drop a 3% airdrop to the holders, and hence keep only 1%, they could gain massive market share? Of course if rates drop, this airdrop would also drop, but I imagine that if you as a holder can share in the interest rate gains, it could steal market share away from USDT.