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Author Topic: The impact of the SQUARE and MICROSTRATEGY purchase  (Read 188 times)
Thavash
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October 12, 2020, 04:45:12 AM
Merited by Halab (2), CryptopreneurBrainboss (1)
 #1

Hi guys

I was so excited last week , those announcements were huge. Its the start of proper recognition of Bitcoin as a real store of value. For me the path is :
1) Individuals purchasing Bitcoin as a SOV ( he last 10 years )
2) Tech companies ( like SQUARE )
3) All companies ( with non Bitcoin aware CEOs - this may be done via Investment houses who offer this service to them )
4) Central banks purchasing Bitcoin to secure a countries wealth, and for Macroeconomic trade

I made a short video discussing this here : https://youtu.be/dXdcfjmYkDw
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October 12, 2020, 05:23:41 AM
Merited by avikz (2), teosanru (1)
 #2

It's not just Square, and Microstrategy,



Their impact can both be positive, or negative. Being among the largest HODLers of Bitcoin, they should have the responsibility to help in the development of the Bitcoin economy, and in the aspect of Bitcoin education.

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October 12, 2020, 05:32:27 AM
 #3

Articles and YouTube videos are quite frequently advertised here, and surprisingly, your video seems to be really decent. Love the enthusiasm and excitement in your voice concerning Square's and MicroStrategy's bitcoin purchase.

You really might want to consider being consistent in uploading videos if you want your channel to gain traction though.

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October 12, 2020, 06:11:45 AM
 #4

See the thing is when we talk about the positive impact :

They not only cause people who are familiar with these sites to invest but at the same time they increase the price of Bitcoins,  they might even act as a buffer by making sure that the price does not fall down much.

But at the same time it also gives them power as whales to manipulate the market in ways that could be problematic for the long run and the small investors for sure.

But overall I believe if they did hold onto their investments for that long , they are not only supporting the market but a the same time they are even surprisingly beneficial for the whole community.

Plus you are also doing a good job by making sure people know more about these things through social media. Good work.

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October 12, 2020, 06:18:56 AM
 #5

they might even act as a buffer by making sure that the price does not fall down much.

Yeap, but it could also be the other way around(though probably much more unlikely). In square's case, whereas bitcoin is only sub 1% on their balance sheet, it's surely really really unlikely for them to be forced to liquidate it. In MicroStrategy's case whatsoever, whereas they invested $425m in bitcoin while they only had 456m cash in December of 2019[1](not sure how much cash they have at the moment), they're definitely taking a much bigger risk.


[1] https://finance.yahoo.com/quote/MSTR/balance-sheet?p=MSTR

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October 12, 2020, 06:19:26 AM
 #6

It's not just Square, and Microstrategy,



Their impact can both be positive, or negative. Being among the largest HODLers of Bitcoin, they should have the responsibility to help in the development of the Bitcoin economy, and in the aspect of Bitcoin education.

For anyone looking for that site info... https://bitcointreasuries.org/
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October 12, 2020, 06:29:16 AM
 #7

Even so big news gives us only +700 usd in price. Im not sure that this cause really big hype around the industry
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October 12, 2020, 07:37:12 AM
 #8

Even so big news gives us only +700 usd in price. Im not sure that this cause really big hype around the industry

I mean, are you expecting a $5000 price rise or something? Though the news about Square was really great, if you're actually following bitcoin news it's really not new that Jack Dorsey, a big name in the tech industry, is a bitcoin bull.

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October 12, 2020, 08:47:02 AM
 #9

Even so big news gives us only +700 usd in price. Im not sure that this cause really big hype around the industry

It's just a baby step so I am not expecting to see 20 - 30% price increase for such corporate purchases. However, this is a new trend that is just heating up and I hope to see some more conglomerates joining this bitcoin league soon!

However, such kind of purchases usually provide additional liquidity to the market and also it increases the positivity around the market. That's what it matters at this moment!

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October 12, 2020, 09:22:26 AM
 #10

See the thing is when we talk about the positive impact :

They not only cause people who are familiar with these sites to invest but at the same time they increase the price of Bitcoins,  they might even act as a buffer by making sure that the price does not fall down much.

But at the same time it also gives them power as whales to manipulate the market in ways that could be problematic for the long run and the small investors for sure.

But overall I believe if they did hold onto their investments for that long , they are not only supporting the market but a the same time they are even surprisingly beneficial for the whole community.

Plus you are also doing a good job by making sure people know more about these things through social media. Good work.


BUT how? How are they beneficial for the whole community? Their purchase is beneficial for the price, but what's their path forward to help further build on Bitcoin's technical development, and economy?

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October 12, 2020, 09:30:19 AM
 #11

Had to merit you since I couldn't merit your video although have already liked it. It has been quite a long time I watched a video like yours, everything was perfect from the voice to the presentation. That into though, "it's happening guys, oh boy, this is massive" lol, you sounded like one of those altcoin hypers, doing a video to shill one of their so called latest gems that obviously was paid for.

While you think it's massive, on the contrary, I'm of the opinion this isn't that much of a massive news which observing from the market there wasn't much of a reaction as to previous time when bullish news like this surface. It only moved the regular bitcoin price gain on a normal day it does without any bullish news in circulation.

I have already aired my view on a similar thread, 4700+ isn't that much for a company like Square as the news broke, they only put in 1% of their total asset. Unless this is the first of their many more purchase to come in the future, it's poor considering the CEO is a big bitcoin supporter, I would had expected much more.





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October 12, 2020, 10:00:20 AM
 #12

Even so big news gives us only +700 usd in price. Im not sure that this cause really big hype around the industry

Not just because we hear or see something like this bitcoin will jump that high, but at the current price, a $700 + is already huge. You see investors are also getting smarter, we are not in 2017 anymore wherein a news really creates a lot of impact be positive or negative, but this is a good start as the price is pushed to $11k++.

And it's better this way though, instead of seeing a obvious artificially pump of the price wherein it will be followed by a huge crash and then people bitching around that bitcoin is no good. Let the ecosystem have it's normal flow, so to speak.

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October 12, 2020, 11:48:42 AM
 #13

Their impact can both be positive, or negative. Being among the largest HODLers of Bitcoin, they should have the responsibility to help in the development of the Bitcoin economy, and in the aspect of Bitcoin education.
That is what scares me the most, if there are more companies that have a reserve in bitcoin will mean bigger prices because they will buy a lot of reserve as the company that they are. The good thing about this is that most cryptocurrencies will surely experience a price hike and many small hodlers will surely benefit from that.

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October 12, 2020, 01:34:58 PM
 #14

     I really enjoy seeing news like this one. Specially when people take the effort in making thorough research and uploading it on YouTube which in turn makes it easier for people to see. Although this news may not affect the prices that much as of this moment, this may cause a domino effect and be a real trend that would very much likely make the values shoot up. We'll just have to wait and see what happens next in a few months or years.

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October 12, 2020, 03:44:12 PM
 #15

It's not just Square, and Microstrategy,



Their impact can both be positive, or negative. Being among the largest HODLers of Bitcoin, they should have the responsibility to help in the development of the Bitcoin economy, and in the aspect of Bitcoin education.
Interesting to see that more than 2% is held by these companies moreover if you reduce the bitcoin which is not in circulation or is completely lost this percentage would go futher up this means that they will get some big power to manipulate the markets too. Moreover other companies who would now try to enter would consider this factor too. I think if more corporates become determined to buy bitcoin we definitely are going to see price skyrocketing. But for that companies would want volatility to be on the lower side because these companies won't be taking big risk with public money.

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BlackFor3st
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October 12, 2020, 04:43:38 PM
 #16

Every purchase of bitcoin has a big impact especially if the purchasers are quite famous like what happen to Square and Microstrategy purchase. This will also trigger for other
companies to think whether they are also going to follow or not and because of it bitcoin is starting to spread.

That is only one of the benefits or advantage to what Square and other famous companies that buys bitcoin. Once bitcoin will start to become popular in every side of the globe then that will be the time that the price of bitcoin will surely to skyrocket and can't be stop.

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pawanjain
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October 12, 2020, 05:23:16 PM
 #17

It's not just Square, and Microstrategy,



Their impact can both be positive, or negative. Being among the largest HODLers of Bitcoin, they should have the responsibility to help in the development of the Bitcoin economy, and in the aspect of Bitcoin education.

For anyone looking for that site info... https://bitcointreasuries.org/
For anyone who is looking to read the whole article. I just read it this evening and was about to post it when I saw this thread.

Source : https://news.bitcoin.com/here-are-the-top-public-companies-that-have-adopted-bitcoin-as-a-reserve-asset/

I just got goosebumps when I heard Grayscale has acquired 2.14% of the total circulating supply.
I guess companies have started investing in bitcoin. If this thing goes on like this we might actually have less bitcoins to accumulate in future.
I am not talking about the price because that is surely to go up.

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BrewMaster
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October 12, 2020, 05:54:16 PM
 #18

4) Central banks purchasing Bitcoin to secure a countries wealth, and for Macroeconomic trade

i don't think this can happen that easily of even soon because in a lot of countries it is illegal for the banks to buy bitcoin even though bitcoin itself is legal and individuals are allowed to buy it.

in any case news like this only gives me a ticking clock as the time is running out to buy cheap coins before the gigantic  whales start pouring into bitcoin that would also make the current whales look like little fishes.

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October 12, 2020, 10:09:17 PM
 #19

Someone still doesn't recognize bitcoin?
There are a lot of people who still don't recognize bitcoin cause they won't even want to know anything about not talking about trying it out. I saw on that path before in 2011 before later recognize bitcoin. However, the number of all total active Bitcoin address is enough as a proof that doesn't recognize Bitcoin are many than it enthusiasts.

A person should look at the number of monthly investments to change their mind.
Mind you people like Buffet have a look into the market price momentum and never change their minds.

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October 12, 2020, 11:47:11 PM
 #20

I think it is a great thing that larger companies are buying BTC. This is actually a small percentage of the amount that has went through the Square app though, they sold over half a billion in 2019 versus the 50 million they recently invested in.
https://www.theblockcrypto.com/post/57083/square-sold-over-half-a-billion-worth-of-bitcoin-in-2019-and-outpaced-broader-crypto-exchange-volume-growth-in-4q

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