You are probably invested in Bitcoin now

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
Post Reply
Topic Author
bogivan
Posts: 38
Joined: Sun Oct 08, 2017 8:17 am

You are probably invested in Bitcoin now

Post by bogivan »

For those that are new, welcome to the cryptocurrency club! :sharebeer

MicroStrategy, Inc, a NASDAQ-listed business intelligence company, has now exchanged over $400 million cash into bitcoin to hold as a primary treasury reserve - nearly a third of the market cap of the company. “This is not a speculation, nor is it a hedge,” said Saylor, the CEO, “I want something that I could put $425 million into for 100 years”

Vanguard Total Market Index holds MicroStrategy, so you - yes, even you bitcoin haters - now own something like 0.001% bitcoin for every dollar in VTSAX if I'm doing my very quick math correctly. I look forward to celebrating our bitcoin gains together in the next bitcoin bull market! :mrgreen:
lgs88
Posts: 467
Joined: Tue Jun 07, 2016 7:48 am

Re: You are probably invested in Bitcoin now

Post by lgs88 »

Sacrebleu!! Heresy!!! A capital crime!!!!

I'm on the phone with Edward Jones moving my money this very moment. Indexing is toast, if indexing means owning Bitcoin.

In all seriousness -- this is no sillier than the phenomenon of a few years ago, when iced tea manufacturer microcaps would "pivot to blockchain" and spike 200% overnight. Glad I've got my 0.00001% exposure, for better or for worse.
merely an interested amateur
User avatar
Random Musings
Posts: 5793
Joined: Thu Feb 22, 2007 4:24 pm
Location: Pennsylvania

Re: You are probably invested in Bitcoin now

Post by Random Musings »

You can put $425MM in a lot of things for 100 years, or even longer. Gold is one good example. However, there are no guarantees that it will pan out.

RM
I figure the odds be fifty-fifty I just might have something to say. FZ
User avatar
nisiprius
Advisory Board
Posts: 41970
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: You are probably invested in Bitcoin now

Post by nisiprius »

Yep, there it is in VTI:
Image
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Tingting1013
Posts: 412
Joined: Mon Aug 24, 2020 5:44 pm

Re: You are probably invested in Bitcoin now

Post by Tingting1013 »

There’s much higher exposure via NVDA, which counts crypto miners as a core customer segment.
User avatar
David Jay
Posts: 9380
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: You are probably invested in Bitcoin now

Post by David Jay »

Serious disconnect here -

1. MSTR has a market cap of $30 Million

2. MSTR claims to hold $400 Million worth of Bitcoin

Perhaps the bitcoin holding has a “discounted valuation”?
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
User avatar
tooluser
Posts: 688
Joined: Sat Oct 01, 2011 7:04 pm

Re: You are probably invested in Bitcoin now

Post by tooluser »

bogivan wrote: Tue Sep 15, 2020 8:49 pm Vanguard Total Market Index holds MicroStrategy, so you - yes, even you bitcoin haters - now own something like 0.001% bitcoin for every dollar in VTSAX if I'm doing my very quick math correctly. I look forward to celebrating our bitcoin gains together in the next bitcoin bull market! :mrgreen:
Indeed, that's what total market index investing is all about. MicroStrategy will earn or lose profits by the quality of its business strategies and the merits of its corporate actions. Index funds will profit or lose proportionately accordingly. I hope they do well.
Tingting1013
Posts: 412
Joined: Mon Aug 24, 2020 5:44 pm

Re: You are probably invested in Bitcoin now

Post by Tingting1013 »

David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Topic Author
bogivan
Posts: 38
Joined: Sun Oct 08, 2017 8:17 am

Re: You are probably invested in Bitcoin now

Post by bogivan »

lgs88 wrote: Tue Sep 15, 2020 8:59 pm In all seriousness -- this is no sillier than the phenomenon of a few years ago, when iced tea manufacturer microcaps would "pivot to blockchain" and spike 200% overnight.
I think a 1.5 billion market cap, NASDAQ-listed company putting 2-8 microcap-sized companies worth of their excess cash into bitcoin is quite a different thing from microcap naming gimmicks during the 2017 bubble...
Normchad
Posts: 1296
Joined: Thu Mar 03, 2011 7:20 am

Re: You are probably invested in Bitcoin now

Post by Normchad »

Interesting. I remember MicroStrategy, from back in the day. They were at various points, a high flying company. I think they ended up going to court or big SEC problems, something like that. It was pretty news worthy at the time. They seemed like a "chameleon" of a company, that would quickly change their focus in life, depending on what was in fashion at the time. (Did they try to start a university?)

Anyway, really surprised they are still around, and still run by Mr. Taylor.
Impatience
Posts: 175
Joined: Thu Jul 23, 2020 3:15 pm

Re: You are probably invested in Bitcoin now

Post by Impatience »

I’m sure index fund and ETF owners are unwitting possessors of much more dubious assets than a few fractions of bitcoin. Who knows what kind of fraudulent dealings are afoot at some of those companies. But that’s why we’re diversified ... VTSAX could be 5% bitcoin and it still probably wouldn’t matter that much.
Normchad
Posts: 1296
Joined: Thu Mar 03, 2011 7:20 am

Re: You are probably invested in Bitcoin now

Post by Normchad »

Impatience wrote: Tue Sep 15, 2020 9:34 pm I’m sure index fund and ETF owners are unwitting possessors of much more dubious assets than a few fractions of bitcoin. Who knows what kind of fraudulent dealings are afoot at some of those companies. But that’s why we’re diversified ... VTSAX could be 5% bitcoin and it still probably wouldn’t matter that much.
Good point. If I personally vetted every company in an index, I'm certain I would find something personally objectionable with every one of them. And I just don't have the time and energy to do that anyway.
User avatar
Nate79
Posts: 6419
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: You are probably invested in Bitcoin now

Post by Nate79 »

Great. This is exactly how I want to hold bitcoin. By having businesses somehow making money off of it, using it in a productive way, vs speculating on it like a commodity.
Northern Flicker
Posts: 6501
Joined: Fri Apr 10, 2015 12:29 am

Re: You are probably invested in Bitcoin now

Post by Northern Flicker »

bogivan wrote: Tue Sep 15, 2020 8:49 pm For those that are new, welcome to the cryptocurrency club! :sharebeer

MicroStrategy, Inc, a NASDAQ-listed business intelligence company, has now exchanged over $400 million cash into bitcoin to hold as a primary treasury reserve - nearly a third of the market cap of the company. “This is not a speculation, nor is it a hedge,” said Saylor, the CEO, “I want something that I could put $425 million into for 100 years”

Vanguard Total Market Index holds MicroStrategy, so you - yes, even you bitcoin haters - now own something like 0.001% bitcoin for every dollar in VTSAX if I'm doing my very quick math correctly. I look forward to celebrating our bitcoin gains together in the next bitcoin bull market! :mrgreen:
I don't hold it, as I use a Russell 1000 fund for US equity exposure, but honestly, I can live without a tech company struggling to disambiguate tech from finance.
Last edited by Northern Flicker on Tue Sep 15, 2020 11:28 pm, edited 1 time in total.
Risk is not a guarantor of return.
ChinchillaWhiplash
Posts: 888
Joined: Sat Jan 20, 2018 5:40 pm
Location: Land of Hypoxia

Re: You are probably invested in Bitcoin now

Post by ChinchillaWhiplash »

Well in Sept 30, 2001 Vanguard 500 fund had the 5th Largest Mutual fund holding of ENRON shares. Think that ended up OK :mrgreen:
HawkeyePierce
Posts: 1486
Joined: Tue Mar 05, 2019 10:29 pm
Location: Colorado

Re: You are probably invested in Bitcoin now

Post by HawkeyePierce »

I would imagine VTI already held some Bitcoin via Square as they've been quite active in crypto for a while now.
Northern Flicker
Posts: 6501
Joined: Fri Apr 10, 2015 12:29 am

Re: You are probably invested in Bitcoin now

Post by Northern Flicker »

MSTR seems to have gone public in June 1998. Performance relative to the total market index:

http://quotes.morningstar.com/chart/fun ... A%5B%5D%7D

It is a tech company that seems to have missed the recent tech boom.
Risk is not a guarantor of return.
User avatar
firebirdparts
Posts: 1787
Joined: Thu Jun 13, 2019 4:21 pm

Re: You are probably invested in Bitcoin now

Post by firebirdparts »

When you put it that way, this thread starts looking like an argument for actively managed funds.
A fool and your money are soon partners
Northern Flicker
Posts: 6501
Joined: Fri Apr 10, 2015 12:29 am

Re: You are probably invested in Bitcoin now

Post by Northern Flicker »

My last post would actually be an argument against active mgmt. If MSTR is misallocating capital by holding 1/3 of its market cap in Bitcoin, this does not harm investors in a total market fund given its tiny percentage of the total market cap, but holding MSTR at a much higher weight would be quite risky.

I have held exclusively an R1000 fund for US equity since 6/2017 to improve perceived correlations with other assets, not to avoid stocks like MSTR.
Risk is not a guarantor of return.
User avatar
Robert T
Posts: 2740
Joined: Tue Feb 27, 2007 9:40 pm
Location: 1, 0.2, 0.4, 0.5
Contact:

Re: You are probably invested in Bitcoin now

Post by Robert T »

Normchad wrote: Tue Sep 15, 2020 9:31 pm Interesting. I remember MicroStrategy, from back in the day. They were at various points, a high flying company. I think they ended up going to court or big SEC problems, something like that. It was pretty news worthy at the time. They seemed like a "chameleon" of a company, that would quickly change their focus in life, depending on what was in fashion at the time. (Did they try to start a university?)

Anyway, really surprised they are still around, and still run by Mr. Taylor.
Yes, I remember that.

MicroStrategy was the epitome of the dot.com boom and bust. Its split adjusted share price peaked at $3,330 on March 10, 2000. Current share price = $155.

I remember the Washington post did a four part series on Dot-com Halo: The Rise and Fall of Michael Saylor – that also covers the accounting irregularities, restating earnings, and the SEC investigation

https://www.washingtonpost.com/archive/ ... 7de3c8d67/
https://www.washingtonpost.com/archive/ ... 187913506/
https://www.washingtonpost.com/archive/ ... 9b993a226/
https://www.washingtonpost.com/archive/ ... daa39be60/

From the articles:
"Heaven for me is a microphone and a captive audience," Saylor said, and he relished the gamesmanship of sales and motivational talks, "that deer-in-the-headlights moment when you know you've flipped someone," he said in 1998.
In early 2000, investors were falling heavily for "Mike's Come-to-Jesus speech," as some MicroStrategists called it. .... Friends and aides warned Saylor to tone down the rhetoric, telling him he risked sounding offensive or ridiculous. His staff and MicroStrategy's board members reminded him to stay focused on business "fundamentals" -- operations, finance, customer service. But Wall Street was the oracle that Saylor heeded the most,
In late 1999 and early 2000, a recurring source of Saylor's fascination -- and, in turn, the media's -- was his plan to build a "Versailles" on 48 acres in Great Falls. He issued a 100-page request for proposals from architects and sent memos to his public relations staff that outlined some basic features he envisioned for his compound -- rooftop conservatory, nine-hole golf course, Japanese gardens. He referred to the compound as "my 21st-century villa,"
Then things fell apart... But he does have some resilience - he is still CEO of MicroStrategy which is still around.
.
User avatar
David Jay
Posts: 9380
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: You are probably invested in Bitcoin now

Post by David Jay »

Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm
David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
Topic Author
bogivan
Posts: 38
Joined: Sun Oct 08, 2017 8:17 am

Re: You are probably invested in Bitcoin now

Post by bogivan »

HawkeyePierce wrote: Tue Sep 15, 2020 11:35 pm I would imagine VTI already held some Bitcoin via Square as they've been quite active in crypto for a while now.
True, though I don't believe Square tries to hold bitcoin or, at least, I don't believe they publicly state their intention to keep any for themselves and don't split it out on their balance sheet.

There is also Riot Blockchain in VTSAX/VTI which is a 140 million market cap bitcoin mining stock that has some cryptocurrency on the balance sheet, but again I think their goal is not necessarily to hold it themselves after mining and we're talking about 5-10 million amounts versus the 400 million now added by MicroStrategy.
Topic Author
bogivan
Posts: 38
Joined: Sun Oct 08, 2017 8:17 am

Re: You are probably invested in Bitcoin now

Post by bogivan »

David Jay wrote: Wed Sep 16, 2020 8:10 am
Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm
David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
I don't know what Nisi's search tool is, but VTSAX happens to own something like $30M worth of MSTR - is that what you were looking at?

Current share price is around $155 and number of shares is 9.686 million = 1.508 billion market cap.
Tingting1013
Posts: 412
Joined: Mon Aug 24, 2020 5:44 pm

Re: You are probably invested in Bitcoin now

Post by Tingting1013 »

David Jay wrote: Wed Sep 16, 2020 8:10 am
Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm
David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
As OP points out right above this post, your interpretation of the numbers is incorrect.

Stock is up another 10% today after gaining 10% yesterday. How’s that for an endorsement of management performance?
Jack FFR1846
Posts: 12648
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: You are probably invested in Bitcoin now

Post by Jack FFR1846 »

Are any of the other "total US market" type funds in this clownshow? SCHB, and the like? I don't see it in the SCHB "all holdings". Time to check basis in VTI.
Bogle: Smart Beta is stupid
brad.clarkston
Posts: 971
Joined: Fri Jan 03, 2014 8:31 pm
Location: Kansas City, MO

Re: You are probably invested in Bitcoin now

Post by brad.clarkston »

Tingting1013 wrote: Wed Sep 16, 2020 12:35 pm
David Jay wrote: Wed Sep 16, 2020 8:10 am
Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm
David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
As OP points out right above this post, your interpretation of the numbers is incorrect.

Stock is up another 10% today after gaining 10% yesterday. How’s that for an endorsement of management performance?
People always flock to a snake oil salesman.
Tingting1013
Posts: 412
Joined: Mon Aug 24, 2020 5:44 pm

Re: You are probably invested in Bitcoin now

Post by Tingting1013 »

brad.clarkston wrote: Wed Sep 16, 2020 12:58 pm
Tingting1013 wrote: Wed Sep 16, 2020 12:35 pm
David Jay wrote: Wed Sep 16, 2020 8:10 am
Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm
David Jay wrote: Tue Sep 15, 2020 9:15 pm Serious disconnect here -

1. MSTR has a market cap of $30 Million
$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
As OP points out right above this post, your interpretation of the numbers is incorrect.

Stock is up another 10% today after gaining 10% yesterday. How’s that for an endorsement of management performance?
People always flock to a snake oil salesman.
So I guess no one knows better than the market, except when it contradicts your predisposed biases?
Topic Author
bogivan
Posts: 38
Joined: Sun Oct 08, 2017 8:17 am

Re: You are probably invested in Bitcoin now

Post by bogivan »

Jack FFR1846 wrote: Wed Sep 16, 2020 12:57 pm SCHB, and the like? I don't see it in the SCHB "all holdings".
Yes, it looks like SCHB owns at least a half a million dollars worth of MSTR (page 49 if sorting in reverse by ticker)
brad.clarkston
Posts: 971
Joined: Fri Jan 03, 2014 8:31 pm
Location: Kansas City, MO

Re: You are probably invested in Bitcoin now

Post by brad.clarkston »

Tingting1013 wrote: Wed Sep 16, 2020 1:04 pm
brad.clarkston wrote: Wed Sep 16, 2020 12:58 pm
Tingting1013 wrote: Wed Sep 16, 2020 12:35 pm
David Jay wrote: Wed Sep 16, 2020 8:10 am
Tingting1013 wrote: Tue Sep 15, 2020 9:20 pm

$1.5B

And you’ll note the stock skyrocketed on this announcement
Okay, but the point remains that from the data of Nisi’s search tool (Q-2?), MSTR had some $400M in invested assets and a $30M market cap. Not exactly a ringing endorsement of management performance.
As OP points out right above this post, your interpretation of the numbers is incorrect.

Stock is up another 10% today after gaining 10% yesterday. How’s that for an endorsement of management performance?
People always flock to a snake oil salesman.
So I guess no one knows better than the market, except when it contradicts your predisposed biases?
I didn't say anything about the market, any biases is yours and yours alone.
User avatar
nisiprius
Advisory Board
Posts: 41970
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: You are probably invested in Bitcoin now

Post by nisiprius »

I don't have any strong reaction. If it's a "gotcha," OK, ya got me.

But not really, because owning a share of stock in a business is not at all the same thing as owning that business's assets. It's basically a vote to elect a board, which in turn provides pressure on the board to act in the shareholders' interests and share in the profits of the business's operation (now or eventually).

I can't take a ExxonMobil stock certificate and walk into the lobby at 5959 Las Colinas Blvd., Irving, TX and an empty barrel and say "here's your stock certificate, now give me my share of all the oil I own."

Similarly I own (or am at least the "beneficial owner") of Barrick stock (in Total International) but I don't own any gold, I own stock in a business.

I own Canopy Growth stock, but I don't own any cannabis.

I own stock in Las Vegas Sands (in Total Stock), but I don't own any poker chips.

It's mildly interesting, but every six months or so the cryptocurrency enthusiasts overhype something as evidence of cryptocurrency's arrival--"you can buy sandwiches at Subway with bitcoin" when the truth is that you can buy sandwiches at one Subway out of the fourteen in Allentown, PA. First Crypto ETF Index Fund Launched!!! $HODL and you can find out where that went to. "Starbucks, Whole Foods, and Nordstroms accepting bitcoin for purchases" when they were doing a technology pilot to see if they could integrate with a payment processor's smartphone app--that never materialized, and would have paid them in dollars, not in bitcoin.

P.S. The Long Island Iced Tea company didn't just change its name to Long Blockchain. They put out press releases saying they had contracted to buy "1,000 Antminer S9 mining rigs and 1,000 APW3++ PSUs." Oddly, though, those contracts were all canceled and the rigs were never delivered.
Last edited by nisiprius on Wed Sep 16, 2020 1:56 pm, edited 4 times in total.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
User avatar
firebirdparts
Posts: 1787
Joined: Thu Jun 13, 2019 4:21 pm

Re: You are probably invested in Bitcoin now

Post by firebirdparts »

I am just thinking imagine having to own this and now NKLA. Some guys just can’t get enough of SEC investigators for some reason. I’m sure they dress nicely.
A fool and your money are soon partners
shess
Posts: 666
Joined: Wed May 17, 2017 12:02 am

Re: You are probably invested in Bitcoin now

Post by shess »

Impatience wrote: Tue Sep 15, 2020 9:34 pm I’m sure index fund and ETF owners are unwitting possessors of much more dubious assets than a few fractions of bitcoin. Who knows what kind of fraudulent dealings are afoot at some of those companies. But that’s why we’re diversified ... VTSAX could be 5% bitcoin and it still probably wouldn’t matter that much.
Your index investments likely hold companies whose relationship to Bitcoin is similar to Barrick's relationship to gold. *shrug*
User avatar
SmileyFace
Posts: 5703
Joined: Wed Feb 19, 2014 10:11 am

Re: You are probably invested in Bitcoin now

Post by SmileyFace »

Random Musings wrote: Tue Sep 15, 2020 9:03 pm You can put $425MM in a lot of things for 100 years, or even longer. Gold is one good example. However, there are no guarantees that it will pan out.

RM
"Gold" ... "Pan Out" - I see what you did there! LOL. (Did you? - look up origin of "pan out").
User avatar
Tamarind
Posts: 2226
Joined: Mon Nov 02, 2015 2:38 pm

Re: You are probably invested in Bitcoin now

Post by Tamarind »

*shrug* Ok. I'm perfectly happy to hold it insofar as it's cap-weighted and part of the assets of a publicly traded company. If crypto actually begins to have serious impact on business operations then I'll be happy to see that grow. Plenty of wild models being tried out among the microcaps... That's what they are there for.
User avatar
arcticpineapplecorp.
Posts: 6186
Joined: Tue Mar 06, 2012 9:22 pm

Re: You are probably invested in Bitcoin now

Post by arcticpineapplecorp. »

the good news is it makes up less than 1/100th of 1% of the total stock market index fund.

so if it goes horribly awry, it has very little impact over my life savings.

back in 2017 I wrote about my neighbor who put significant money into bitconnect.

she lost that "investment" and all the money.

my portfolio's up since then.
It's "Stay" the course, not Stray the Course. Buy and Hold works. You should really try it sometime. Get a plan: www.bogleheads.org/wiki/Investment_policy_statement
Northern Flicker
Posts: 6501
Joined: Fri Apr 10, 2015 12:29 am

Re: You are probably invested in Bitcoin now

Post by Northern Flicker »

bogivan wrote: Wed Sep 16, 2020 8:20 am
HawkeyePierce wrote: Tue Sep 15, 2020 11:35 pm I would imagine VTI already held some Bitcoin via Square as they've been quite active in crypto for a while now.
True, though I don't believe Square tries to hold bitcoin or, at least, I don't believe they publicly state their intention to keep any for themselves and don't split it out on their balance sheet.

There is also Riot Blockchain in VTSAX/VTI which is a 140 million market cap bitcoin mining stock that has some cryptocurrency on the balance sheet, but again I think their goal is not necessarily to hold it themselves after mining and we're talking about 5-10 million amounts versus the 400 million now added by MicroStrategy.
Regardless of one's view of Bitcoin, a Bitcoin miner is an actual business that is trying to achieve a future revenue stream, moving it from the realm of pure speculations to the realm of investments.
Risk is not a guarantor of return.
User avatar
Random Musings
Posts: 5793
Joined: Thu Feb 22, 2007 4:24 pm
Location: Pennsylvania

Re: You are probably invested in Bitcoin now

Post by Random Musings »

DaftInvestor wrote: Wed Sep 16, 2020 2:43 pm
Random Musings wrote: Tue Sep 15, 2020 9:03 pm You can put $425MM in a lot of things for 100 years, or even longer. Gold is one good example. However, there are no guarantees that it will pan out.

RM
"Gold" ... "Pan Out" - I see what you did there! LOL. (Did you? - look up origin of "pan out").
Have panned for gold in the Black Hills of SD. Was fun, but no luck. A few people found small flakes but the troy weight was immaterial.


RM
I figure the odds be fifty-fifty I just might have something to say. FZ
Post Reply