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  • Originally posted by Nysoz View Post
    For those not wanting to buy bitcoin, you have a chance to win some soon. Chipotle is apparently doing a giveaway for national burrito day (I think thursday?).

    Apparently you have to guess a 6 digit code and have 10 tries to get up to $25k in bitcoin... or maybe a free burrito.
    I'd rather take my stab with the guy who has information for several hundred million dollars worth of bitcoin on a thumb drive but has used 8 out of 10 guesses.

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    • Originally posted by jacoavlu View Post

      lazy criticism
      Especially lazy now that one could buy pretty much anything on Paypal with BTC. Although I would not currently buy BTC on Paypal, nor would I use it to buy anything due to the current tax code.

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      • Originally posted by CordMcNally View Post

        I'd rather take my stab with the guy who has information for several hundred million dollars worth of bitcoin on a thumb drive but has used 8 out of 10 guesses.
        But no burrito bowl with that guy - hard pass.

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        • Originally posted by Nysoz View Post
          For those not wanting to buy bitcoin, you have a chance to win some soon. Chipotle is apparently doing a giveaway for national burrito day (I think thursday?).

          Apparently you have to guess a 6 digit code and have 10 tries to get up to $25k in bitcoin... or maybe a free burrito.
          I kinda feel like back when I was smart, I could write a couple lines of code to win this thing within a minute of the contest opening. As it stands, I'll just follow along on April Fools' Day. https://burritosorbitcoin.com/comingsoon

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          • Originally posted by Nysoz View Post
            For those not wanting to buy bitcoin, you have a chance to win some soon. Chipotle is apparently doing a giveaway for national burrito day (I think thursday?).

            Apparently you have to guess a 6 digit code and have 10 tries to get up to $25k in bitcoin... or maybe a free burrito.
            My opinion on this:

            CMG has 1 billion in cash reserves...their stock is up about 350% in the past 3 years. My guess is that they added BTC to their treasury in Q1 and they will announce it at their Q1 Earnings report on 4/21/21. Either that or they are just going to say April Fools. But it would make very good sense for them to convert some of their cash to BTC.

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            • What is the purpose for companies putting cash reserves in Bitcoin? No matter your opinion of the future of Bitcoin you have to admit it does not function the same as what is typical for cash reserves Treasuries, USD.

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              • Originally posted by Lordosis View Post
                What is the purpose for companies putting cash reserves in Bitcoin? No matter your opinion of the future of Bitcoin you have to admit it does not function the same as what is typical for cash reserves Treasuries, USD.
                holding cash, treasuries carries its own set of risks

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                • Originally posted by jacoavlu View Post

                  holding cash, treasuries carries its own set of risks
                  Inflation? I guess but for short term who cares? Are companies holding cash reserves for long term as a way to make money or retain value?

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                  • Originally posted by Lordosis View Post

                    Inflation? I guess but for short term who cares? Are companies holding cash reserves for long term as a way to make money or retain value?
                    When one of my side businesses brings up holding our cash in BTC, this may be a stronger indicator of a bubble than grandma asking about it. Or perhaps arrival to the promised land, napoleon and jaco. I still prefer to return it to the shareholders and run lean, but then again, that is maybe (another) reason that me and the other board members aren't running NYSE listed companies.

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                    • Originally posted by Lordosis View Post

                      Inflation? I guess but for short term who cares? Are companies holding cash reserves for long term as a way to make money or retain value?
                      short term I don't think anyone cares. Long term is the problem. Certainly these companies aren't buying bitcoin for the short term. Neither am I.

                      Why companies hold cash reserves, well I'm sure many reasons. "Nothing better to do with it" I guess would be an answer. CEO / board has choices of pay out dividends, hold for future growth projects, pay off debt, buyback shares, invest in something else. Berkshire last year had like $140B cash bc Warren can't find deals he likes. Tesla I don't know, $10B maybe.

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                      • Okay so Warren holds cash waiting for a deal he likes. If he instead holds Bitcoin won't the Volatility make that more difficult when a deal comes around?

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                        • Originally posted by Lordosis View Post
                          Okay so Warren holds cash waiting for a deal he likes. If he instead holds Bitcoin won't the Volatility make that more difficult when a deal comes around?
                          define "difficult"

                          "waiting for a deal" implies a possible short term need. Personally I wouldn't invest in bitcoin for a potential short term need.


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                          • Originally posted by jacoavlu View Post

                            define "difficult"

                            "waiting for a deal" implies a possible short term need. Personally I wouldn't invest in bitcoin for a potential short term need.

                            That's what I am saying. Cash reserves sounds like short term holdings. Maybe that is where I am wrong.

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                            • Originally posted by G View Post

                              When one of my side businesses brings up holding our cash in BTC, this may be a stronger indicator of a bubble than grandma asking about it. Or perhaps arrival to the promised land, napoleon and jaco. I still prefer to return it to the shareholders and run lean, but then again, that is maybe (another) reason that me and the other board members aren't running NYSE listed companies.
                              By this definition, we are 8 months into the bubble then. I put 35% of my 2nd businesses cash reserves in BTC last July. Ironically about 3 weeks before MSTR did it. This position is and will help us continue to grow. It was about 125K. which has 4X'd in value. (If the math doesn't work out it is because we put an initial 75K followed by an additional 50K later)
                              I would have put some of my medical practice reserves in BTC at about the same time last year, but I am only a minority partner in our practice, and although I convinced my one partner to buy BTC with his personal money in May of last year, he won't hold company money in BTC.

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                              • Originally posted by Lordosis View Post
                                Okay so Warren holds cash waiting for a deal he likes. If he instead holds Bitcoin won't the Volatility make that more difficult when a deal comes around?
                                Buffett has gotten hammered for holding all of his cash for the past 5 years at his yearly shareholders meetings in Omaha. Had he simply kept it in an index fund like he preaches he would have crushed it.

                                Some of it he has to hold in cash reserves due to Geico being a major holding. He has to keep a large amount in cash in case of catastrophic problems and payouts. He has spoken on this many times. As for the other 100 billion....well, he has done all right for himself over the past 50 years, so I won't second guess his current work.

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