Bitcoin hits 20-month low as market sentiment sours
36 points by 1vuio0pswjnm7
by Newlaptop
2 subcomments
I've been surprised that the news that Strategy (formerly Microstrategy) bought 3x the total amount of mined bitcoin in the past year didn't cause bigger waves.
A single corporation is issuing debt at 11% interest to buy all the bitcoin being produced and a huge chunk of the additional sales. That's such an obviously precarious situation that I figured the news would cause a crash as people tried to get out of bitcoin before Strategy has to start liquidating, but it looks like there's still some runway left.
by rndjdifi358
0 subcomment
Has anyone calculated what effect swapping AI datacenter calculation to bitcoin mining would have? They’re not asics, but this is a lot of hardware that’s been bought
by iamleppert
1 subcomments
Outflows into AI. I wouldn’t be shocked if it goes down to $20k soon.
by rdwrrr
0 subcomment
Just a little bit lower before it can go up again.
by phendrenad2
0 subcomment
I wonder how much of this is investment flowing out of everything and into factories and mining other industries that the current regime is de-regulating.
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