prolly nothing... https://www.cnbc.com/2022/03/03/bil...tocks-and-is-a-small-investor-in-bitcoin.html Bill Gross says he’s trading meme stocks and is a small investor in bitcoin PUBLISHED THU, MAR 3 20228:49 AM ESTUPDATED THU, MAR 3 20228:54 AM EST Yun Li@YUNLI626 Bill Gross Kevin Flynn | CNBC Longtime investor Bill Gross said Thursday he’s still trading meme stocks for quick profits, and he’s also dabbling in cryptocurrencies even though he believes they are in a bubble. “I am still trading GameStop and AMC. These are lottery-ticket stocks,” the 77-year-old investor said Thursday in a wide-ranging interview with Brian Sullivan. “The volatility on these options that I’m dealing with is so high that if you sell the options out of the money, which take GameStop around $120. Now, I’m selling four-month calls at $200 and capturing $12 or $13 per option of because the volatility’s like 120%,” Gross added. The trading mania in GameStop and AMC shocked Wall Street in 2021 as a band of retail investors piled into those stocks and call options, causing massive short squeezes that burned many short-selling hedge funds. As for cryptocurrencies, another asset class widely viewed as speculative, Gross said overall they are in a bubble, but he’s trying to pick out the winners. “I simply think that you know, the crypto coins are a bubble. I do think there are survivors,” Gross said. “I do think we need an alternative to the dollar as we’ve seen in the last week or two and that you know, there will be several survivors and I’m invested to a small extent in bitcoin.” Cryptocurrencies have become a prominent feature of the war between Russia and Ukraine. The Ukrainian government has raised $35 million through more than 35,000 cryptoasset donations since the start of the Russian invasion. The co-founder of fixed-income giant Pimco also said he doesn’t believe in the hype in NFTs, or nonfungible tokens. “The phenomena of NFTs is the same way and reminds me of when my kids were collecting Beanie Babies,” Gross said.
Wrong thread title. It should say: Bill Gross criticizes cryptos! Well said Bill! Bubble, Beanie Babies, I couldn't agree more... Also, his net worth is almost 3 billion bucks. So I agree, only billionaires should touch crypto. The difference between a billion and a million is a billion.
I think you've made an honest mistake. That's not what he said about Bitcoin "I’m invested to a small extent in bitcoin.” - Bill Gross
I seldom do. I quoted you quoting him. And what is small for a billionaire, that is huge for average Joe, and the other way around. His % of investment of his net worth is probably equivalent of Average Joe investing $50 in crypto.
Which is why I politely corrected you as it was an honest mistake on your part He spoke of many things, including meme stocks, but the title of the thread mentions Bitcoin, the beanie babies NFT reference you want to highlight was not on the title
It's prolly nothing... Bill Gross is a only a small investor to Bitcoin. Small might mean 1 btc, or 10 btc's, or even 1000 btc's for a billionaire like Bill Gross. It's not much since there are about 15 million bitcoins in circulation (due to lost private keys to about 3-5 million bitcoins) But it could be something... You see, Bill Gross is part of the legendary billionaires that are famous and admired by 90% of the smart millionaires in the world Other legendary famous billionaires that are looked up to are: Elon Mush buys bitcoins Bill Miller buys bitcoins Ray Dalio buys bitcoins George Soros buys bitcoins Stanley Druckenmiller buys bitcoins Tim Cook buys bitcoins Jack Dorsey buys bitcoins Paul Tudor Jones buys bitcoins (futures) Thomas Peterffy buys bitcoins Michael Saylor buys bitcoins So these people are like celebrity influencers that are telling their followers to buy bitcoins There are 56 million millionaires worldwide Even if only 40 million of these millionaires are smart and listen to the famous legendary billionaires above and want to buy 1 bitcoin, there's simply not enough bitcoins for each and everyone of them Maybe some of the ET people are smart too, and want to buy 1 bitcoin before the smart millionaires make the move, that would be good for the price of bitcoin, no? How about you, @Pekelo are you going to be smart enough to buy 1 bitcoin before those guys? All you gotta do is hodl 1 bitcoin long term, and abundant riches will be yours
I think this was the thread where I was chastised because I tried to be smarter than the billionaires and not touching crypto. Apparently, billionaires never lose money. The post didn't age very well... BTC at the time of the post: 39K BTC today: 16.7K But I am contemplating shorting Tether... I am also listening to The Bond King, Bill Gross' biography. Maybe I learn something...