Do anybody remember Mick Jagger in the World Cup of 1998?? Same vibe...😒
People need to understand that corrections within the market trend is a normal part of a cicle. Stop crying over a Long Squeeze and just BUY THE DIP.
Also, not not leverage... USD 103 Mio were liquidated in the past hour. It is a maraton, not a sprint.
Anyone at Bitcoin 2023 in Miami? Come and say hi!
Good point.
Looks like a fun prank. Anyone in??
GM. Ever wonder how much in Venezuelan Bolivares to buy a role of toilet paper? Here it is.
Bitcoin fixes this.
GM... Another one bites the dust??
GM... so, Switzerland... Governments being governements. Nothing to see here. This will only cost around 13.5K CHF per Swiss inhabitant.
Drink beer and stack sats. Happy St. Patrick's day!!
Hummm... 🤔
Happy St. Patrick's Day to all. If you have money to buy losts of beer, you have money to buy sats. Keep stacking them.
GM. Here we go again...
GM... so... here we go again???
OK... so... we understand SVB issue and why their shares dropped ~60%, but, why is this a commotion all around?
Recap: SVB had a terrible timing on buying their $21B bonds portfolio, as it had ~1.80% yield and 3.6 year duration. They bought just before the interest hikes. For a comparison, today the same 3 year bond is paying close to 5%.
Due to this, the value of their bonds feel terribly, afterall, who would want to buy a low paying bond, when apparently interest rates are not coming down anytime soon?
So, they sold their bond portfolio with a $1.8B loss in order to reposition with a better yield. This added to the low liquidity as most of their clients are tech companies, which currently do not have a lot of cash laying around to deposit with them.
But all banks around seems to have felt this.
So... would SVB just be an unlucky bank with bad timing, or actually just the first one to take action??
Time will tell.
5,000 sats for less than a dollar??
I'm stacking some for the zapping!
What a bargain... #[0]
It is a bloody morning to banks...
GM.
Bitcoin below 20K is an opportunity. Dont despair... seize it. Stack sats.
Charlie Munger, is that you??
