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THEY JUST SAID THEY ARE BUYING BITCOIN AND WILL BUY MORE!



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How’s it going everyone it’s Sam a major company is investing in Bitcoin let’s talk about that it just came out that Reddit has been buying Bitcoin they’ve also bought some other cryptocurrencies and it’s invigorating the market a little bit Bitcoin just hit 52,000 uh it’s down just slightly since

Then but it it breathed some life into the market and it’s getting people thinking again and I I want to talk about that if you don’t mind hit subscribe turn on that Bell notification underneath the video so you can see future videos just like this one also

There is a link down there to Marx in case you want to trade cryptocurrency on Leverage you can check out the link underneath the video you get deposit bonus you don’t need to kyc which means you don’t need to fill out know your customer information like your social

Security number your name that kind of stuff there’s also an MP Shield that they have so this helps stop price manipulation and stops you from being liquidated as easily of course always make make sure that you do your own due diligence and risk assessment when leverage trading now cryptocurrency is

Up a little bit in the last 24 hours Bitcoin sitting right around 52,000 and we just got this news Reddit invested excess cash reserves into Bitcoin according to an SEC filing now this is coming out because they are now planning an IPO so they said that they invested

Some of the excess cash reserves in Bitcoin and ethereum and also acquired ether and madic as a form of payment for sales of certain virtual Goods which we may do in the future ether Matic received from sales of V of virtual Goods was not material for the ends of

2022 and 2023 we also Acquired and hold digital assets that are cryptocurrencies for use by our product and engineering team so okay they accepted some Bitcoin or they accepted some uh crypto they also are kind of playing around with crypto trying to use it for different things they say though as of December

31st we did not hold any digital assets other than Bitcoin coin and ethereum for treasury purposes and our investment our investment policy requires approval by our Board of Directors for any investments in cryptocurrency they go on to talk about how it needs to be approved they buy things that are not

Likely to be a security and they may invest into cryptocurrencies in the future now from what I could tell it looks like Reddit does maybe uh R around a billion dollars a year obviously it’s a very well-known company but it’s not like they’re probably buying billions of dollars of Bitcoin right this is

Significant though because a lot of people get stuck thinking okay it’s just like it’s just like maybe coinbase it’s buying a little bit some ETFs micro Strate micro strategy that’s the only people buying Bitcoin the only corporate companies uh the only corporate treasuries buying Bitcoin but that’s not

The case if you look here on buy Bitcoin worldwide there are actually a lot of companies public companies that we know that hold Bitcoin for example the ones that might come to mind micro strategy Marathon Tesla HUD a coinbase block Riot clean spark even Voyager still on the list like they’re those

Companies right and then there are private companies that we know about too like Mount gox block. one tether bitmex tether’s a big one that continuously buys more Bitcoin and they just started like a few years ago the thing is though there are a lot of companies that we

Don’t know that buy Bitcoin for example I feel like I had heard about Reddit maybe investing into cryptocurrency you’re doing something with cryptocurrency but I don’t think we knew that it was at the level that they have it as part of their corporate treasury we still don’t

Know how much they own but this is another company that owns crypto there are a bunch of crypto companies or a lot of companies that you wouldn’t even really understand that they own crypto except for a couple tidbits where we’ve heard about it for example Elon Musk

Owns crypto himself he owns uh Bitcoin and ethereum I believe he said uh and Dogecoin his companies also own it like obviously Tesla owns Bitcoin but he said that star uh or SpaceX also owns Bitcoin so like that’s another private company we have no idea how much they own how many other

Companies are out there that are adding it to their balance sheet like small companies and big companies who knows it’s impossible to know but when we hear about things like this like Reddit it is a good reminder we also have other people that invest in crypto that don’t

Really talk about it much but like know Tim Cook has invested into cryptocurrency this is the kind of stuff that gets people excited again and this isn’t the end of this there’s going to be another company that talks about this I’m I’m thinking there’s going to be a

Big splashy announcement from some big tech company again just like we saw Tesla last cycle I would not be surprised to see some big splashy headline about some company adding Bitcoin to their corporate uh treasury I mean we know that some companies even like Amazon are experimenting with nfts they uh are

Experimenting with crypto I would not be surprised if some company said oh we’re going to buy a billion dollars or hundred million dollar of Bitcoin something like that that gets more eyes on bitcoin and adds some fuel to the fire now is this going to really push up

Bitcoin to new all-time highs I don’t know I don’t know if something is like like Reddit announcing that they own some Bitcoin is going to do it last cycle we had Tesla which is so much bigger than Reddit but but again it’s just a good reminder that there is going

To be a lot of news like this like this is just the beginning now some people think that we’re going to head back down that you know we’re going to see a big pullback because maybe we’re in uh a phase of the market where people are getting too overly excited too early

British hle has a very different a very different perspective he says a Perpetual Bitcoin cycle has begun at started on January 11th it’s never ending it’s Everlasting we go up we consolidate we go up again we may have some Downs they will be blunted muted by

The sheer force of the cash demand for Bitcoin this this is something that I’ve talked about before there’s unlimited demand for Bitcoin because there’s unlimited printing there’s unlimited currency that can be uh added right there’s unlimited amounts of cash out there and it’s just going to continue going up right when

You think about like an S&P 500 Index the reason it goes up is because of increased productivity right of these companies increased revenues and stuff like that where does that come from it comes from increasing the money supply it’s really eerie when you look at how much the money supply is increased

Compared to how much the S&P 500 is increased so those are pretty much on par for each other like you invest in the S&P 500 you basically get whatever the U money supply increases now if something scarce like Bitcoin you can actually make up ground because there

Are more people coming into it that’s the difference it goes up with the money supply but also goes up with more and more people joining in trying to get their hands on bitcoin which is why you can outperform I actually have a couple really good videos coming out in the

Next few days with people uh from across the crypto space really interesting so hit subscribe so you can make sure that you see those let me know your thoughts about Reddit underneath the video as well let me know if you think this is significant or if we’re going to forget

About it by next week let me know in the comment section just a reminder too like make sure you keep your head about you in these times make sure that you’re plugged in these are the times where you want to be paying attention to the market

Because a quick piece of news some piece of news on a Thursday night can make huge differences in the market it can it can change the course of where the Market’s going so make sure you stay plugged in make sure that you’re paying attention there’s also a link underneath

The video in case you want to see my Twitter a lot of the time I’ll like or retweet stuff that I think is important or that I want to hit on in video so you can always look for that there’s also that link to Marx and there’s a link to

HG algo I had someone email me asking what how I’m determining bullish and fair signals and dollar cost averaging signals like how do I show that on the chart I didn’t show it today but I’ve shown that in the past that’s through HG algo so definitely check that out thank

You so much I appreciate it I will see you in the next video bye

25 Comments

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