Texas adds Bitcoin to its Strategic Reserve

2,420 Views | 32 Replies | Last: 1 mo ago by TexasRebel
techno-ag
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AG


I'm ok with this. Even if BTC crashes and goes back down to $30,000 or whatever, never to rise again (it will), $10 million is peanuts for the state in the long term.

Plus, if and when it goes back up that only helps the taxpayers. Maybe the PUC can get some of that bitcoin largesse.
The left cannot kill the Spirit of Charlie Kirk.
ts5641
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This is a big deal. A major state is now validating Bitcoin as a strategic reserve.
Sid Farkas
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AG
Bitcoin is going to kill fiat currency
Bitcoin is a store of wealth like gold


What is bitcoin supposed to be next year?
aezmvp
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Would it have been funnier if they had added Texit Coin?
Its Texas Aggies, dammit
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AG
If it is held for at least four years, this will be a good move.

https://www.forbes.com/sites/digital-assets/2024/12/06/the-logic-behind-bitcoins-power-law/
5Amp
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$10 MM is not that much money per Texas investment, less than a deep oil well completion cost.

All over X about how great of investment BTC is. When the Trump boys are seen pushing people to buy "make believe money" you know it is in trouble.

How many idiots purchased Trump coin for $72 when he got elected, what is it now, $4.00?
No Spin Ag
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5Amp said:

$10 MM is not that much money per Texas investment, less than a deep oil well completion cost.

All over X about how great of investment BTC is. When the Trump boys are seen pushing people to buy "make believe money" you know it is in trouble.

How many idiots purchased Trump coin for $72 when he got elected, what is it now, $4.00?

I'd like to know how many people who couldn't afford to lose anywhere near that amount there are, and how this affected their daily lives.

Hopefully it's not too many.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
IIIHorn
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Bytecoin is worth 8 times as much as Bitcoin.
techno-ag
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AG
Back up above $90k this week. Already looking to be a good move.
The left cannot kill the Spirit of Charlie Kirk.
Vepp
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Should have been done a decade ago!
Burrus86
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AG
94chem
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Sid Farkas said:

Bitcoin is going to kill fiat currency
Bitcoin is a store of wealth like gold


What is bitcoin supposed to be next year?


Bitcoin is a fiat currency. Duh.
TTUArmy
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94chem said:

Sid Farkas said:

Bitcoin is going to kill fiat currency
Bitcoin is a store of wealth like gold


What is bitcoin supposed to be next year?

Bitcoin is a fiat currency. Duh.

True.

UTExan
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$10 billion for a speculative currency?
Why not actual strategic minerals?
“If you’re going to have crime it should at least be organized crime”
-Havelock Vetinari
techno-ag
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AG
UTExan said:

$10 billion for a speculative currency?
Why not actual strategic minerals?

We've got plenty of mineral rights.
The left cannot kill the Spirit of Charlie Kirk.
Old Army Ghost
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Old Army has gone to hell.
UTExan
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Old Army Ghost said:

UTExan said:

$10 billion for a speculative currency?
Why not actual strategic minerals?

10 billion?!?! Did you even read the OP? only off by $9,990,000,000...

worst part about this is we are investing via blackrock

Doh! I should never post before having my morning coffee.
“If you’re going to have crime it should at least be organized crime”
-Havelock Vetinari
chris1515
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AG
Why not Trump coin?

Maybe diversify with some Melania coin.
YouBet
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AG
BTC is not a fiat currency.
Fireman
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AG
Sid Farkas said:

Bitcoin is going to kill fiat currency
Bitcoin is a store of wealth like gold


What is bitcoin supposed to be next year?

Higher in value than it was this year.
94chem
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YouBet said:

BTC is not a fiat currency.

Let's see...its value is listed in DOLLARS. You sell it to get DOLLARS. You buy it with DOLLARS. If you want to use it for anything, you have to change it into DOLLARS. When you're finished with your currency speculation games, you end up with DOLLARS.
TexasRebel
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AG
How do you turn $10,000,000 into $9,500,000 in a week?
YouBet
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AG
94chem said:

YouBet said:

BTC is not a fiat currency.

Let's see...its value is listed in DOLLARS. You sell it to get DOLLARS. You buy it with DOLLARS. If you want to use it for anything, you have to change it into DOLLARS. When you're finished with your currency speculation games, you end up with DOLLARS.


I buy it with dollars and hold it. My BTC is worth more than the dollars I bought them with as opposed to my dollars which lose value every day. I do not use it for anything as I treat it as a store of value. If I sell, it's treated like a stock.

Therefore, it's not fiat currency for me.
amercer
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AG
Cool. So it's more like baseball cards than currency.
YouBet
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AG
amercer said:

Cool. So it's more like baseball cards than currency.


Except way more ROI than baseball cards...if you decide to cash out USD.
amercer
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AG
At this point pretty much all retail investing is divorced from actual business fundamentals and is no more than speculation.

So if crypto is your preferred casino, go for it
YouBet
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AG
amercer said:

At this point pretty much all retail investing is divorced from actual business fundamentals and is no more than speculation.

So if crypto is your preferred casino, go for it


Definitely agree on that.
@NFLPlayerProps
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Sid Farkas and TexasRebel have missed incredible gains on BTC so far, 1000x+ at least for TexasRebel in particular. Admire them for digging in and pretending they're not mad about it
TexasRebel
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AG
Some people don't stand on the rug.
@NFLPlayerProps
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Right. You've been recommending that we invest in ammo since one BTC was about $5k
TexasRebel
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AG
@NFLPlayerProps said:

Right. You've been recommending that we invest in ammo since one BTC was about $5k

Since some yokel paid $5,000 for a bitcoin. They're always worthless.
@NFLPlayerProps
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You used to be fun to pick on, now it's kind of sad.
TexasRebel
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AG
Awww... You're buying magic beans and you think I should be embarassed?
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