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Author Topic: Big companies have started investing in bitcoin as a safe asset  (Read 543 times)
Daniel91 (OP)
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September 17, 2020, 06:37:47 PM
 #1

Behind is an abbreviated translation of my own post here in the Croatian section of the forum. https://bitcointalk.org/index.php?topic=5276508.0
I believe that the facts presented are of greater importance to the wider bitcoin community, so I decided to transfer my post here (in English).

The owner of one large firm (MicroStrategy Inc), worth more than $1 billion, the so-called "unicorn" decided, driven by inflation and uncertainty around the dollar and fiat currencies, to invest in bitcoins as a "safer investment."
He believes it is not safe for the company's cash reserves, about $500 million to keep in fiat and he has decided to invest that money in bitcoin.
According to the report, he bought a total of 38,250 Bitcoins at a purchase price of $425 million.
So something new has started here, and when this becomes a trend, and other companies also start investing in bitcoin as a "safe asset" I think we will see a sharp rise in the value of bitcoin and a drop in the value of fiat currencies.

You can see the full article here (in Croatian): https://crobitcoin.com/unicorn-kompanije-kupila-bitcoin-za-425m-dolara/?utm_source=email&utm_medium=newsletter&utm_campaign=news

What do you think?

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September 17, 2020, 06:58:02 PM
 #2

Bitcoin is amazing - No doubt

But when it comes to a safe asset part , there is literally a lot of problems that one has to take into account.

- Volatility is here to stay
- The government regulations will only tighten with time
- If the government decides to ban bitcoins and other cryptocurrencies then the whole company might be in a bit of a problematic situation
etc..

Invest in Bitcoins, no doubt but to make an investment of millions and that too regarding the company I do think that's a bit of an overstatement.

But even the banks are in a tight spot therefore I do believe that there is no safe investment right now. ~

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September 17, 2020, 06:59:40 PM
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 #3

When you think, using "safe asset" word for Bitcoin could be strange. In the end, Bitcoin is volatile and fiat money isn't. However, fiat money can always be manipulated easily or go down in value while an economic crisis. But there is no such thing that a government etc. can control Bitcoin. In an economic crisis, Bitcoin will be better choice compared to fiat money.

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September 17, 2020, 08:04:51 PM
Last edit: September 18, 2020, 05:04:37 AM by Upgrade00
 #4

- Volatility is here to stay
Bitcoin is an ever evolving network which is only a couple of years old, while volatility has been a constant factor so far, that can change with time and adoption.
The CEO of microstrategy, Michael Saylor, said in an interview that they plan on holding on to bitcoins for about 100 years; the current network would be markedly different from what we would have in a century. Also, if they plan on holding for that long, intermittent fluctuations in value would not have much of an effect on their decision as long as there is a tendency for growth.
Michael Saylor also specifically talked about the volatility in a podcast interview with Pompilano, his thoughts were shared in a tweet;
Quote
"I’m holding it for 100 friggen’ years. I’m not the day trader guy that’s worried about it. I think that as the institutions come in and they buy bigger amounts, they’re damping the volatility."
Bitcoin is deflationary or disinflationary as opposed to fiat which is highly inflationary, this uncertainty in fiat would have had an effect on their decision to switch to a Bitcoin standard.

Invest in Bitcoins, no doubt but to make an investment of millions and that too regarding the company I do think that's a bit of an overstatement.
$425 million was put into Bitcoin by a publicly traded company. There are lots of legal and technical hurdles that would have to be had been passed to make it possible. Getting the executives and directors on board to adopt Bitcoin as a reserve currency would have also been complicated - I would assume all the options, as well as the up and downsides would have been accounted for before they could hit the buy switch.

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September 17, 2020, 10:46:27 PM
 #5

This means that they think about a possible huge adoption in the coming years, they'll probably see it. Not in a way that they are accumulating Bitcoin now as for a safe asset but they are doing this because they were able to think that Bitcoin will be the only currency to used (IMO). And that's they prepared while the price is still low because once it fully accepted globally, it is no doubt that the price may increase., doubled, tripled, or even more.

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September 17, 2020, 11:05:37 PM
 #6

Making Bitcoin a safe asset is possible, but this is very risky. Moreover, as we know, Bitcoin is very volatile. If indeed this is used for long-term investment, it might become a safe asset, but with various risks.

Have they thought it through? Around the negative and positive impacts of making Bitcoin a safe asset? If this has actually happened, and especially by large and well-known companies, then it is possible that Bitcoin will quickly become a bigger asset again and again.

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September 17, 2020, 11:11:19 PM
 #7

Making Bitcoin a safe asset is possible, but this is very risky. Moreover, as we know, Bitcoin is very volatile. If indeed this is used for long-term investment, it might become a safe asset, but with various risks.

Have they thought it through? Around the negative and positive impacts of making Bitcoin a safe asset? If this has actually happened, and especially by large and well-known companies, then it is possible that Bitcoin will quickly become a bigger asset again and again.

Needless to say, with that huge amount of money involved, for sure they did their risk analysis assessment.
So if they still pushed thru with their investments in bitcoin, it means they have high regards with crypto.
They won't take this big risk if they know they are on the losing end.
And I believe a lot of companies are also privately accumulating their own crypto stash. Who knows, right?
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September 17, 2020, 11:24:37 PM
 #8

It would be cool if other investors are also cool with it. This is literally banking on the possibility of bitcoin retaining its value for a long time and not going below a certain threshold and putting a significant value on the line. Normally I would advice against it given bitcoin's volatility and its susceptibility of being dumped on but then again this isn't something I own that I have control with. I just hope the best for their company since this is a high-risk, high-reward move, so they can still cut losses--minimal losses compared to holding on fiat--in the end.

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September 17, 2020, 11:32:07 PM
 #9

Needless to say, with that huge amount of money involved, for sure they did their risk analysis assessment.
So if they still pushed thru with their investments in bitcoin, it means they have high regards with crypto.
They won't take this big risk if they know they are on the losing end.
And I believe a lot of companies are also privately accumulating their own crypto stash. Who knows, right?
I also believe that a large company like Microstrartegy Inc has already done a risk analysis before deciding to start investing in bitcoin. Companies in their class will not enter bitcoin without prior preparation. This investment has been planned with various bitcoin risks that they must face. Bitcoin can not be said to be a safe asset, because the risk of investing in bitcoin is very high compared to investing in other assets such as bitcoin or crypto. The prices are very volatile and the regulations provided by their government will certainly be tighter.

Bitcoin is a future asset that can be profitable if managed properly and several other large companies have also started investing in bitcoin and started adopting bitcoin as an optional payment platform.

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September 17, 2020, 11:37:12 PM
 #10

I believe bitcoin is not to be considered safe asset. You can't tell if one day, you still have the same value as what you invested today. But that's the point in investing in btc, right? We are hoping that in the future it will increase and so our investments will grow big. But of course, the possibility of going down is always there, we just hope it is in the positive direction. But all in all, I don't think btc as a safe asset.
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September 17, 2020, 11:38:15 PM
 #11

They must be the entity that's buying Bitcoin, when it was around $10,000. But its certainly a good move to diversify your portfolio, we'll never know what might happen to the stock market, and we've seen Oil fallen down to negative territory. Now is probably a good time to accumulate Bitcoin before a big financial crisis happens. Similarly, other big businesses such as a restaurant in Canada that has thousands of branches, transitioned to BTC also to the fear of an economic collapse.

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September 17, 2020, 11:46:02 PM
 #12


What do you think?
Have they gone through some serious analysis and having these kind of finalization in towards into their decisions? Are they aware that those $400M+ of theirs would really be on negative or not?
Bitcoin is good but wont really be considered on the good side when it comes to safe asset.We know the market is too volatile and for now they cant tell about it since the market had been moving sideways
but when the price plummets down on at least on 7-8k range then that where regrets and blaming time would occur.They shouldnt have make this as an option even though im a pro bitcoiner but
on traditional business specially on the cash reserves talks then putting it on crypto is really a very very risky thing since everything can turn out to zero.

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September 18, 2020, 01:17:48 AM
 #13

But when it comes to a safe asset part , there is literally a lot of problems that one has to take into account.

- Volatility is here to stay
It always has been, but it has shown pretty positive growth, for the past year, plus, it isn't like the banks are actually in a good situation right now, so it's probably a better risk for them to actually invest in Bitcoin instead of letting it sit as a fiat. Besides, if this investment of theirs were to show growth, that's a big thing for them, but the same could be said vice versa.

Also it seems like they also did invest in the past? https://bitcointalk.org/index.php?topic=5268180.0 Looked around since the name MicroStrategy was quite familiar with me. So is it this, plus the amount said in the article OP said, or is the one from the OPs article a total of the Bitcoin they bought? Since if it was added, then it'd obviously exceed their cash reserves of $500m but if it was total, then it seems to add up properly.

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September 18, 2020, 01:38:42 AM
 #14

Yes, institutions invest in Bitcoin to hedge their inflation risks and get exposure to a store of value, which is better than gold. Based on the Fidelity Digital Assets research conducted in 2020, more than 35% of the U.S. and European institutional investors have already invested in digital assets, while 25% of surveyed institutions have exposure to Bitcoin.

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September 18, 2020, 02:05:41 AM
 #15

I wish they really know the the place they are entering because the best and worst case might happen. I know that inflation was a tough opponent but volatility is tougher I guess so i don't understand why such companies like that choose to gamble. I think much better if they invest it with gold.

Anyway, I'm still glad that more and more are trusting bitcoin Smiley. Maybe I'm just worrying that things might not flow smoothly that's why I'm acting like this. To cope withe the natural nature of crypto; they should not simply store it, they must learn to trade at least.
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September 18, 2020, 02:09:22 AM
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I think the company should not call bitcoin as a safe haven because the bitcoin price is fluctuating. Maybe the company can suggest their employee invest in bitcoin, but their employee should know and learn before they start to invest. If the company really wants to have a safe asset, then gold will be the best choice because it is not too volatile as bitcoin.

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September 18, 2020, 02:49:48 AM
 #17

Bitcoin is amazing - No doubt

But when it comes to a safe asset part , there is literally a lot of problems that one has to take into account.

- Volatility is here to stay
- The government regulations will only tighten with time
- If the government decides to ban bitcoins and other cryptocurrencies then the whole company might be in a bit of a problematic situation
etc..

Invest in Bitcoins, no doubt but to make an investment of millions and that too regarding the company I do think that's a bit of an overstatement.

But even the banks are in a tight spot therefore I do believe that there is no safe investment right now. ~

Yeah the problem with that lots of money to invest in bitcoin is the volatility because when the price of the bitcoin fell in the market, that kind of investment will also fail bigtime. no matter how you define it, it's always been the norm of the crypto market. the only difference is when those companies invest at the right time when the price is low. then the possibilities of gain is high since bitcoin never failed us when its price fell it always rise and give a major comeback base on its past history throughout these years.

https://www.coindesk.com/price/bitcoin


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September 18, 2020, 03:04:00 AM
Last edit: September 18, 2020, 03:15:29 AM by mk4
 #18

Yeah the problem with that lots of money to invest in bitcoin is the volatility because when the price of the bitcoin fell in the market, that kind of investment will also fail bigtime. no matter how you define it, it's always been the norm of the crypto market. the only difference is when those companies invest at the right time when the price is low. then the possibilities of gain is high since bitcoin never failed us when its price fell it always rise and give a major comeback base on its past history throughout these years.

The thing is, how do we know if the current price(which is approximately around the pricepoint where MicroStrategy bought bitcoin at) is high or low? Only time will tell if now is the so called "right price" to buy or not because obviously we can't predict future price movements especially in the short term.

Also take note that these wall street guys are investors, not short-mid term traders.

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September 18, 2020, 03:51:46 AM
 #19

Every single dollar of bitcoin's increase is total profit for them. They can sell at their own will anytime even if there are just a few dollars to hundreds of an increase in its price. I don't expect them to hold for too long if they have to need the money, they'll start to sell as long as they are on markup or profit.

I guess it's a company decision not just by the owner itself and as long as they know what they do, they shouldn't worry at all. If they've seen by other companies to make a profit from what they did, let's expect some companies will do the same.

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September 18, 2020, 04:20:48 AM
 #20

That safe term is highly debatable, although compared to fiat which is inherently designed to really lose value over time, Bitcoin must be better. The problem, however, is that huge price fluctuations happen every now and then with Bitcoin. That does not happen with fiat.

This characteristic makes it harder for them to pull out anytime from Bitcoin. After a severe dip in prices, the recovery would sometimes take months.

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