Bitcoin owners now partying.

So Elon Musk just bought 1.5 BILLION dollars worth of bitcoin and plans to accept payment by it.

If you own bitcoin it is now worth $55.000 per coin.....wow.

Things are changing rapidly but in reality makes you wonder just what he knows to invest so heavily.

A clear indicator that perhaps hard cash is really on its way out after all.

A real concern for countless reasons perhaps.

Unsure what to make of his investment but makes the hair on the back of my neck stand up.

What's going on here?

www.cnbc.com...

a reply to: CthruU

I heard a rumour that they only accept bitcoin on Mars

a reply to: CthruU

It's currently around $46k currently. Where did you get the $55k figure from?

originally posted by: peter_kandra
a reply to: CthruU

It's currently around $46k currently. Where did you get the $55k figure from?

Yes sorry in usd you are correct.
I currently live in Aus due to work commitments and it is 55.808 Australian.

originally posted by: TheResidentAlien
a reply to: CthruU

I heard a rumour that they only accept bitcoin on Mars

Ooh lah lah.

One can easily see this happening as governments crack down on black marketing....for the little people anyway. No more yard-sales or lemonaid stands for you little Tommy and SuzY!

I had to prove where my down payment for my house came from FFS.

And, most importantly, Covid can live on money for 6-8 weeks. Allegedly. Ima gonna be the first to spread that rumor.

Enjoy it while it lasts.
Banks don't like missing out on handling fees.
Governments don't like missing a chance to tax something.

That will change very soon I think.

a reply to: CthruU

BTC isn't practical for mass adoption at the retail level and will never scale to that level.

After regulations get ironed out a wave of digital currency will sweep the globe. Most money is already digital, right now the banks have a monopoly on that digital money. That's going to change.

I'm just thinking about all the people I've told to buy bitcoin over the years who scoffed at it and thought it was a scam. A lot of people are absolutely kicking themselves right now.
4 years ago, bitcoin was less than $1,000. Someone who bought let's say $5,000 of bitcoin only 4 years ago would have around a quarter of a million dollars right now.

a reply to: trollz

And I sold all six of my BTC off to break even at $200 so I could make ends meet that month.

Sure showed me.

I've been laughing and partying since it was at 3K.

I was told then that it would all disappear because of the elites or something. That it would all go to zero...

Now institutional investment has brought it up to 46K with 50K projected by the end of the month.

Retail investment hasn't even started yet.

a reply to: projectvxn

Agreed. Even now I'm regularly putting money into Bitcoin and Etherium.

Naysayers are down because they are late to the party. But it looks like it will keep on going so I say get in now, it's never too late with Bitcoin.

a reply to: projectvxn

Yip, once Micro Strategy and Greyscale started investing heavily last year you just knew it was a matter of time for a really big player to pull the pin. Musk's decision to invest $1.5 Billion sure caught a lot of people by surprise (those who don't follow crypto on a regular basis).

They'll be thinking "what does he know that we don't?" It's definitely going to get a lot more big players interested and involved.

Hell, there's talk that Apple could get involved. Some people even suggesting they should start their own exchange.

Apple Should Create Crypto Exchange and Buy Bitcoin, Says RBC

originally posted by: CthruU
Things are changing rapidly but in reality makes you wonder just what he knows to invest so heavily.

A clear indicator that perhaps hard cash is really on its way out after all.

For him ... a loss in the value of BTC is write-off.

And, yes, not just cash ... but, the dollar itself ... is one the way out.

Not bad for something that's worth nothing, except how much you are prepared to pay for one! Bitcoin is a lesson in greed.

Interestingly, at today's exchange rate I caculate that one Bitcoin is worth c. Bs 85,389,700,000 (Venezuelan Bolívars).

I can see the big boys playing with cryptocurrencies like we played with game stonks

Not sure how relevant this is as I know little of bitcoin's history or future but, I noticed recently that in my PayPal account I can buy any amount of bitcoin I like and it just saves it in my wallet.

Not knowing anything about it I just tossed in five bucks a few months ago. It's nearly tripled. Now I wish I had looked more carefully and put in more, lol. Anyway it's nice because, though an odd currency to me, I can just cash it out to PayPal anytime and use that or transfer to my bank.

originally posted by: paraphi
Not bad for something that's worth nothing, except how much you are prepared to pay for one! Bitcoin is a lesson in greed.

You can pay any amount you want for bitcoin. 1 bitcoin being $46,000 doesn't mean you can only own some if you pay $46,000. You can buy 25 cents worth of it if you want. You clearly don't even have a basic understanding of what bitcoin is or how it works.
And it's not worth nothing, it's created by computational power. It costs money in order to run the hardware that creates it, which is why it's not and will never be "worth nothing".

a reply to: TortoiseKweek

Bitcoin now enjoys corporate reserve status.

Institutional investors haven't even rolled in all the way yet. Tesla is just the herald of corporate investment.

The influx of retail investors and institutions with any remaining jitters will now give way and the real bull run can start.

originally posted by: paraphi
Not bad for something that's worth nothing, except how much you are prepared to pay for one! Bitcoin is a lesson in greed.

Interestingly, at today's exchange rate I caculate that one Bitcoin is worth c. Bs 85,389,700,000 (Venezuelan Bolívars).

Fiat currency is worth 'nothing'.

Bitcoin has great value in utility and scarcity.

Rather than greed, perhaps it is an 'up yours' to the greed of the central banking systems?