Tech CEO dumps $90M of company stock to buy Gold, Bitcoin | Crypto Craft

  • Tech CEO dumps $90M of company stock to buy Gold, Bitcoin

    From kitco.com

    Former Overstock CEO Patrick Byrne liquidated his position in his company and bought gold, silver and bitcoin to protect against a "recession" and the "deep state." Byrne sold 4.8 million shares to net about $90 million. Last month 57-year-old Byrne resigned from the company he founded after having an affair with a convicted Russian agent. The turmoil has caused Overstock to drop. Shares are trading at $15.57 as of 4 p.m. ET, nearly half their valuation on Friday when shares were trading at a high of $29.39. In a blog post Byrne said his move to hard assets is a hedge against a "deteriorating world situation" and the ... (full story)

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TudorIoan
Sep 20, 2019 12:26am
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Whatta moron!
Bitcoin is not an investment, bitcoin is a gamble.
You can't even compare Bitcoin's volatility with the Gold's !!!
Bitcoin experiment can't even be called portfolio diversification !!! ...it's pure gamble, FFS !!!

Bitcoin asset can bring down a significant percentage of your 'diversified' fund !
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TudorIoan
Sep 20, 2019 1:25am — Edited
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Quoting Guest
If Bitcoin is a gamble, what is then trading, or especially FOREX trading?!! EVERYTHING in life is a gamble...
Wrong, coward!
1. There are stable assets used as safe heaven when high geopolitical risk like Gold, JPY...
2. There are predictable long term constant growing assests like stocks&bonds, nice yields for investors;
3. There are predictable currency pairs moving on monetary policy, geopoliticals, economic growth, PA...

- Bitcoin doesn't qualifies on nothing from those basic trading conditions.
- Because bitcoin's major moves reflects only the the moods of the whale-bitcoin-holders who controls 80% from the total of the bitcoin addresses.
- Plus the unregulated financial environment that easily leads to pure manipulation and theft.
(simple scheme for the crooks who rob you => accumulation and massive sell off)
All that makes bitcoin a gamble.

If you don't understand the basic elements of trading, stop posting noob empty impressions !
If you are not able to login here, stay out for good ...coward!
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iTrader
Sep 20, 2019 2:00am
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Quoting TudorIoan
{quote} Wrong, coward! 1. There are stable assets used as safe heaven when high geopolitical risk like Gold, JPY... 2. There are predictable long term constant growing assests like stocks&bonds, nice yields for investors; 3. There are predictable currency pairs moving on monetary policy, geopoliticals, economic growth, PA... Bitcoin doesn't qualifies on nothing from those basic trading conditions. Because bitcoin reflects only the the moods of the whale-bitcoin-holders who holds 80% of all bitcoin addresses. That's pure manipulation and theft...
No need to call him coward. Humble yourself and don't be aggressive toward people with a different point of view. Just lay out your point without becoming personal everybody reading will make up his mind. Thank you.
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Phil_GMT
Sep 20, 2019 2:59am
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KITCO is a shill fake news site for gold bugs. I even saw a $21,000 target for gold on their YouTube channel.

The SP500 is about to make all time highs this year, as long as FED keeps rates low.

Stay in the stock market.

and yes I own Physical, bought in 2006/2009/2010 (those were the years I was obsessed with conspiracies and Alt-Media, started when I was in University).
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ekan
Sep 20, 2019 6:56am
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Quoting Guest
If Bitcoin is a gamble, what is then trading, or especially FOREX trading?!!
Trading of equities, bonds, futures, options, etc., is not gambling because real assets change hands. Those are settled on a regulated exchange and the broker holds them as a custodian on trader's behalf.

CFD "trading" IS gambling on the price on the assets at the time of transaction, a form of spread BETTING with standardized contracts. It is a kind of gambling where the playing field is less tilted against the gambler than the crypto and the odds are far, far better than lottery or casino.

What we call "Forex" is actually currency CFDs, so falls under the above definition.
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bmun2348
Sep 20, 2019 12:12am
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This guy is going to end in the streets
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TudorIoan
Sep 20, 2019 2:09am
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Quoting iTrader
{quote} No need to call him coward. Humble yourself and don't be aggressive toward people with a different point of view. Just lay out your point without becoming personal everybody reading will make up his mind. Thank you.
Sorry, iTrader, I don't call mediocrity "a different point of view".
If you say today that the earth is flat, that is not just "a different point of view"

BTW, many FF members post under the cover of anonymity here, because thy are not able to stand a fair argumentated discussion, but they like to shit in a forum place and then run and hide away ....that's what I call cowardice !
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Ojiego
Sep 20, 2019 2:55am
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Strange this push for Bitcoins ......... the other day I read that a kidnap case was settled with a Bitcoin worth of $15.000,00 in AFRICA!!
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TMR
Sep 20, 2019 2:33am
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All in!
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Trader#5D32
Sep 20, 2019 12:56am
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If Bitcoin is a gamble, what is then trading, or especially FOREX trading?!! EVERYTHING in life is a gamble...
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Trader#4D14
Sep 21, 2019 6:25am
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We call you guys gold maximalist. Just like there are Bitcoin maximalist.
What is gold? Do you think people in ancient times would carry gold around with them if they had a digital ledger to use instead? Gold is good for jewelry, bitcoin wins every where else.
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