[2019-12-14] Billionaires Buying Bitcoin: Bill Pulte Announces 11 BTC Purchase

[Jgilpulg]

Billionaire Bill Pulte is joining the crypto community. He wants to use Bitcoin to help the poor.

https://bitcoinist.com/billionaires-buying-bitcoin-bill-pulte-announces-11-btc-purchase/

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[CryptoBry]

Billionaire Bill Pulte is joining the crypto community. He wants to use Bitcoin to help the poor.

Is he distributing the same digital asset to the needy and the poor? Well, I am hoping he will be doing it on a large-scale and aside from charitable intention he should be holding some for future growth. I think that this move can be helping the cause of Bitcoin a lot and let's likewise hope that this can be encouraging other rich people to also jump into the bandwagon. These people can easily afford Bitcoin and can be influential on their moves.

[Getmon]

Billionaire Bill Pulte is joining the crypto community. He wants to use Bitcoin to help the poor.

https://bitcoinist.com/billionaires-buying-bitcoin-bill-pulte-announces-11-btc-purchase/

He wants to use Bitcoin to help the poor? If he uses fiat to buy Bitcoin and then he donates the Bitcoin, the Bitcoin will still be converted into fiat. This is not at all practical. Well, at least he is promoting it but if he really wants to help the poor he should help the poor with fiat. Many poor families are residing in areas where development is at its lowest. And I think Bitcoin payment does not thrive in those areas. If he wants to join the crypto community he should instead invest in Bitcoin, build more commercial businesses accepting Bitcoin payment.

[magneto]

And what does this have to do with anything?

It's absolute non-news.

Just because someone with a high net worth bought BTC doesn't mean that all of a sudden BTC prices are going to hike. The fact is that demand of BTC is shaped by way more than that, with institutions and traders on leverage potentially having greater influence than even billionaires who simply buy a few BTCs here and there.

[hugeblack]

He wants to use Bitcoin to help the poor? If he uses fiat to buy Bitcoin and then he donates the Bitcoin, the Bitcoin will still be converted into fiat.

“Cryptocurrency can help the world’s poorest…especially those who are “unbanked” … as a philanthropist, I, therefore, want to promote adoption. Leave a comment [on] why you need Bitcoin and I’ll pick one person to send some satoshis to … Yes, this is real.”

Do not forget that many of the poor and many people in the world do not have bank accounts or do business with banks.
Transferring cash to the African continent will be difficult, with regulatory restrictions and taxes.
I think that the dollar is good in this field, it can be donated to all parts of the world, or it could be a start to benefit from it for advertising gain. "he helps the poor and uses the new technology," including the experience of return on investment in this currency.

[electronicash]

and he is only bought 11 BTC, how is that going to help the poor?

when its billionaire that buys BTC its always in my thoughts that the guy wanna evade tax lol i hope i'm wrong. i'm sure this isn't his first time buying BTC. the billionaires in the planet are often discussing how much their stocks grew and all everyday with billionaire friends. he must have learned btc to few long time ago like draper.

[coolcoinz]

It's not a huge amount for a billionaire. For him buying 11 BTC is like for me buying 1ETH as an investment, because maybe one day Vitalik gets a Nobel prize or something and the value of ETH skyrockets.
Also the article is a total clickbait. 1 Billionaire buying a small amount of BTC has nothing to do with the plural form of this word, but article is using plural in purpose to make us think there are groups of them already flocking into the space.

[Harlot]

and he is only bought 11 BTC, how is that going to help the poor?

when its billionaire that buys BTC its always in my thoughts that the guy wanna evade tax lol i hope i'm wrong. i'm sure this isn't his first time buying BTC. the billionaires in the planet are often discussing how much their stocks grew and all everyday with billionaire friends. he must have learned btc to few long time ago like draper.

You don't think 11 BTC isn't enough yet you are trying to connect the same 11 BTC as a means of tax evasion? Are you some kind of one dimensional person only thinking that billionaires have one motive and that's to avoid paying taxes and be greedy with their own money? Pulte already has a charitable organization under him before he has the intention of having BTC as means of donation so I won't be surprised that he just bought Bitcoin just a means of transferring the donation efficiently on countries in Africa. My advice for you is to don't judge someone for something bad if you really don't have any evidence against them.

[bbc.reporter]

Clickbait article by the bitcoinist which makes an assumption that the billionaire was buying bitcoin to use for his philantrophic activites.

His tweet said he bought bitcoin. He was only begging for likes similar to any social media user who seeks attention.

[Mahanton]

Clickbait article by the bitcoinist which makes an assumption that the billionaire was buying bitcoin to use for his philantrophic activites.

His tweet said he bought bitcoin. He was only begging for likes similar to any social media user who seeks attention.

You save me on clicking that link.If it just an assumption then its clear that theres no specific thing on what the motive on purchasing those coins.

If it do only announce or do tweet basically that he had bought some bitcoins then its just simply seeking out for attention but at least its still a considerable advertisement.

[1Referee]

It's not a huge amount for a billionaire. For him buying 11 BTC is like for me buying 1ETH as an investment, because maybe one day Vitalik gets a Nobel prize or something and the value of ETH skyrockets.

Him being a 'billionaire' doesn't mean he's extremely rich in liquid assets.

With how inflated the US stock market is today there are plenty of on-paper multi millionaires and billionaires, but what's that worth when you can't actually take out your paper net worth in full? The same applies to those who are multi millionaire based on the number of Bitcoins they hold. It's just a status. Not more not less.

Perhaps he bought way more than 11BTC. It's not smart to disclose on social media that you bought like 1000BTC. The IRS is watching. They love to claim a cut of your stack.

[BitHodler]

His tweet said he bought bitcoin. He was only begging for likes similar to any social media user who seeks attention.

That doesn't really matter. It made Bitcoin have some free global exposure as news outlets picked up on that pretty quickly.

It's kinda funny because if it was an altcoin he bought into the altcoin space would be happy, but as always Bitcoiners can't be motivated to appreciate anything. What are you doing for Bitcoin? I'm sure a whole lot of nothing.

People shouldn't be so stiff. It's positive exposure.... hundreds of thousands of people have seen that post, and probably millions in total if you include the coverage coming from the many news outlets.

[electronicash]

and he is only bought 11 BTC, how is that going to help the poor?

when its billionaire that buys BTC its always in my thoughts that the guy wanna evade tax lol i hope i'm wrong. i'm sure this isn't his first time buying BTC. the billionaires in the planet are often discussing how much their stocks grew and all everyday with billionaire friends. he must have learned btc to few long time ago like draper.

You don't think 11 BTC isn't enough yet you are trying to connect the same 11 BTC as a means of tax evasion? Are you some kind of one dimensional person only thinking that billionaires have one motive and that's to avoid paying taxes and be greedy with their own money? Pulte already has a charitable organization under him before he has the intention of having BTC as means of donation so I won't be surprised that he just bought Bitcoin just a means of transferring the donation efficiently on countries in Africa. My advice for you is to don't judge someone for something bad if you really don't have any evidence against them.

maybe i'm a dimensional person indeed. yep i don't have evidence against them that was just something that comes in mind though. there are possibilities like you said i'm dimensional. or maybe he just said he bought 11 BTC while he actually about 100,011 BTC, its that possible too? well i have no evidence still but 100,000BTC is more than enough BTC to hide  it from tax.

Clickbait article by the bitcoinist which makes an assumption that the billionaire was buying bitcoin to use for his philantrophic activites.

His tweet said he bought bitcoin. He was only begging for likes similar to any social media user who seeks attention.

wants to be like john mcafee one day, they two should suck dicks.

[stomachgrowls]

Perhaps he bought way more than 11BTC. It's not smart to disclose on social media that you bought like 1000BTC. The IRS is watching. They love to claim a cut of your stack.

No fool would really disclose the real numbers to the public and i highly agree on the thing you've said that theres always someone watching and would really love to have some slice of the pie of yours.

11 BTC? For a billionaire it would really be just like on having a 1 night into this place Expensive Hotel.

[Romeotom]

Much to really for me because I'm not bigger investors but if you can buy bitcoin with any amount that's perfect poor or high doesn't matter because money is money, so don't compare small or high in the crypto market.

[veleten]

wow billionaire!
don't hurt yourself , haha the whole 78.000$ spent , this is definitely news worthy
well at least he is smarter than the rest ( or dumber , because he only bought that much )
I firmly believe that many of the trust funds are secretly dealing with the crypto stocks while playing it cool and pretending they don't know what bitcoin is
you simply cannot pass up on such an opportunity being a good market analyst , there is no other asset  , or very few , that could give the sort of ROI bitcoin does

[1Referee]

don't hurt yourself , haha the whole 78.000$ spent

He plays it smart (read, safe), unlike many get rich quick noobies here who go all in. If it works out for him, it will give him a pretty ROI, if not, he will not be too sad. In general, high net worth individuals tend to put 1-2% of their liquid worth in speculative assets. 1% of $78,000 = $7.8 million.

The more money you have, the more careful you are with it because you know what it took you to get where you are, and you definitely know that you don't want to lose it. It's called smart money management.

There is an update though, he bought more coins on the dip; https://twitter.com/pulte/status/1207055948075982848

[Slow death]

Maybe I typed his name wrong and that's why I found the wrong twitter account, clarify me, this is his twitter account:

https://twitter.com/pulte



right?

I looked at his twitter account, as I realized he give people money and then I saw this:



It seems that he also follows the crypto world. Is something good what is he doing

[MuffinMaster]

He can help poor people more efficiently using fiat currency, if buying bitcoin to help poor is his intention only. Not all poor people have internet connection along with smartphones. These are essential to access bitcoin. I appreciate this gesture but my advise is to go with fiat to help poor instantly.

[livingfree]

It might not that big but his name is probably big w/ a "billionaire" attached to it and everything he does will be on medias. And purpose is purpose if he announced it to help the poor and send it to strangers as a gift, I'm happy that he's doing this.

It wouldn't shake the market or put it into bull run because of the amount that was mentioned and it's not that big. But looking at the positive side, I think it's a good publicity stunt for bitcoin and this is one of its use case.