Near $0 or $500K ? It hit $60K today.
Near $0 or $500K ? It hit $60K today.
it depends who you ask. If you ask a financial advisor, he tells you zero. You ask a college kid he would tell you skies the limit. I think it caps somewhere above $100k. But nowhere near $500k.
That's a good question. Lots of opinions out there. I decided to invest a bit into crypto. Currently I have some dollars into a basket of alt coins. Yep it's all risky so I'm playing with money that if it goes up in smoke I won't be devastated, just unhappy.
I think the big concerns I have heard are governments making it illegal or governments launching their own digital currency. I'm not sure either of these will happen there seem to be some larger institutions behind it now. I have no idea and have some limited exposure to it via ARKK. My son has some in GBTC.
There crazier thing is some of the Non Fungible Tokens. People paying lots of money to own digital video clips and someone paying $69,000,000.00 for digital art. Crazy times for sure.
a year ago I said close to zero. Now I think it's too big to fail. I was wrong before and could be wrong again. The higher it goes, I think the harder it becomes to get bigger gains. I think the better question would be $25K or $100K.
Now where did I put my crystal ball?
Considering it's finite, and large financial institutions are investing heavily in it, I'd say $250,000 would be a reasonable ceiling.
I'd love to see it go much much higher. Who wouldn't?
dunno just throw 7$ a day into that or eth alternating and skip getting coffee and crap at work. Its a bold strategy lol we will see if it pays off cotton
Visa appears to be warming up to Bitcoin purchases.
https://decrypt.co/61738/visa-is-wor...-purchases-ceo
Morgan Stanley is now offering bitcoin to it's wealth management clients.
It's not going anywhere but up.
Crazy to say this, but I think bitcoin replaces gold, and it replaces savings accounts. And if you told me that 2 years ago I would have said you were crazy.
I think the only thing that really hurts bitcoin will be a hack or evidence of fake/ ghost bitcoins. If someone figures out a way to sell fake bitcoins, thats gonna hurt.
What are your thoughts on owning it "indirectly"? As an example, if Tesla holds a portion of it's cash reserves in Crypto and a person owns an S&P 500 index fund (which holds Tesla) is that "enough" exposure to Crypto?
As Morgan Stanley (position 61 on SP) becomes the first big U.S. bank to offer a certain portion of it's clientele access to bitcoin funds, if one owns MS or, again, SP500 index is that exposure enough for the individual investor?
Originally Posted by boneil
I think if we go back a few years you did call my crazy lol.
I said many people were crazy. I'm not to proud to admit that I was wrong. I was dead wrong and regret not buying or holding every time I heard someone talk about it. I remember telling my wife how stupid bitcoin was years ago when it was in the hundreds. I would never call anyone stupid on the board, but I sure thought it about many of the bitcoin posters.
That said, I am really happy that so many of you guys, the bitcoin hodlers made bank.
I don't know if it was you, but I remember a guy posting about mining bitcoin years ago when bitcoin made it's first run to 20K. I wondered what he did when it went back down to 4K. Did he keep mining or did he fold up. I can only imagine what it's like now if he kept mining.
The current market cap of Bitcoin, which is only one of many cryptocurrencies, is over $1 Trillion now. That is greater than the market cap of Visa/MC combined. I think blockchain technology and de-centralized digitized currency is the end game, and where we have been going for a period of time now.
https://www.coinbase.com/learn/crypto-basics
Last edited by KP1923; 03-20-2021 at 06:56 AM. Reason: Added link.
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On a call yesterday with my financial guy for quarterly update. He wanted to discuss Bitcoin a little bit. He threw out some info in comparing it to Amazon and said something along the lines of over 10 years Amazon lost 50% of its value 7 times. Don’t quote me exactly but his point was in his opinion there would likely be buying opportunity on Bitcoin at reduced prices going forward.
I was that miner. At least one of them that was on here talking about the benefits of mining and crypto. I held, kept mining, when BTC dipped in to the 3000's and 4000's I bought more. I still mine. My two mining rigs bring in roughly 1.4 ETH a month.
Here's my theory. We'll see more consolidations over the next 5-7 years. But the trend line will continue up. As more financial institutions buy in to crypto for portfolio diversification it's only going to go higher. In 6-10 years I can see BTC well in to 6 figures, and ETH well in to 5 figures. LTC, or some other form of in-house coin, will be used for a transaction network due to the lower costs.
Of course, that's my theory. But, it has merit.
PayPal has added Crypto in two ways. You can now buy Crypto on PayPal. You can also checkout online with PayPal using Crypto.
man I've learned not to bet on the markets, or the outcome of show trials and I'm adding elections to that list
7$ a day just give up whatever expensive habit ya have on work days lol im telling ya it adds up.
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