Originally posted by Nysoz
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Originally posted by Nysoz View PostFor 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.
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Originally posted by Nysoz View PostFor 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.
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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Originally posted by Lordosis View PostWhat 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
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?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?
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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Originally posted by Lordosis View PostOkay 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?
"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.
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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.
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 PostOkay 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?
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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