https://twitter.com/LukeGromen/status/1858533803314045388
i'm quite late to the party, probably having a lot to do w my age, but i finally own a sizeable position of bitcoin through an etf. intend to figure out how to hold coins myself.
i started to also buy about 20% of the bitcoin etf and use it for Ethereum. what are y'alls thoughts on that?
Originally Posted by Tellafriend
I never got into the BTC scene myself except to send funds to stake.com via VPN, but I’ve invested heavily in stocks tied to the AI hype, which seem to correlate with BTC's rising prices. For example, I bought into Palantir when it was under $20. It’s definitely overvalued, but if I’m going to take a gamble, I’d rather do it with a company that actually produces something . Plus, this approach seems to yield the same or even better results than buying crypto. There are a lot of hype stocks that have better returns than BTC over the last few years that actually have a chance of making money.
Nobody says you can't own both AI stocks and BTC. Trump has pledged that the US will be a buyer in his administration. El Salvador has seen 2x or more return on their investment and I'm sure they're continuing to buy. Other countries treasuries are going to have no choice but to follow suit if they haven't begun already. Pension funds are buying the ETF's. Maybe even desertrunner will buy a few shares of the IBIT one day.
I never got into the BTC scene myself except to send funds to stake.com via VPN, but I’ve invested heavily in stocks tied to the AI hype, which seem to correlate with BTC's rising prices. For example, I bought into Palantir when it was under $20. It’s definitely overvalued, but if I’m going to take a gamble, I’d rather do it with a company that actually produces something . Plus, this approach seems to yield the same or even better results than buying crypto. There are a lot of hype stocks that have better returns than BTC over the last few years that actually have a chance of making money.
What has made me very bullish on BTC is these etf's. Owning the ETF's within a US bank seems to me as though you'll be protected to a much greater extent even if you can't get FDIC insurance holding the asset elsewhere. Maybe I'm wrong or not quite accurate about this its just my own outlook on it.
Other things making me bullish is the end of the fraudulent exchanges. Coinbase is probably the worst company I've ever dealt with when it comes to customer service. Basically, there is none. However. I've had an account there for years and my funds have never been stolen and I've never had an issue moving funds from Coinbase to my bank.
Owning the related stocks has been a windfall. You could have owned COIN at $35 less than 2 years ago. Its about $325 atm.
And of course we all know the supply is finite. The thing is going much, much higher. This is an inflection or tipping point. Buy the IBIT desertrunner.
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