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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: Maurice Winn who wrote (209222)12/4/2024 5:15:07 AM
From: TobagoJack  Respond to of 218748
 
I transform tulips into gold as I go

is why I term crypto as insta-, faster-, better-gold

crypto be high-volatility goodness

I believe ETH has some merit as utility token but am unable to value it

I think BTC has use as crypto-gold however it might eventually go to zero

I trust to some extent that PAXG (paxo gold) paxos.com shall be redeemable for actual-gold, but am now just in process of accumulating it by trading BTC and ETH




To: Maurice Winn who wrote (209222)12/4/2024 9:56:37 PM
From: TobagoJack  Read Replies (1) | Respond to of 218748
 
re <<silly>> ... you see silly crypto and I see insta-gold

Am gradually trading out of BTC into stable coin USDC whilst maintain stance on ETH as that has much more to rise. Hoping to engage with more PAXG as and when and if gold should correct in order to later off-load PAXG to re-engage with BTC and ETH, ad infinitum, amen

The point of the gaming is all about 'more' gold

zerohedge.com
Bitcoin Soars Above $100,000 For The First Time
coingecko.com
coingecko.com



To: Maurice Winn who wrote (209222)12/5/2024 12:54:45 AM
From: TobagoJack  Respond to of 218748
 
re <<tulips>>

... pondering, whilst high on oxygen ...

in the meantime, wondering which way(s) the wind(s) blowing

scmp.com

China selfie app Meitu sells crypto holdings in big payday before bitcoin hit US$100,000
Published: 1:00pm, 5 Dec 2024

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump



Chinese selfie app operator Meitu, one of a few Hong Kong-listed companies to publicly disclose crypto investments, said it has sold all of its cryptocurrency holdings, netting nearly US$80 million just ahead of bitcoin’s price surge past US$100,000.

As of December 4, Meitu had sold its crypto portfolio that included 940 units of bitcoin and 31,000 units of ether, making gains of US$79.63 million, the company said in a statement on Wednesday. Hong Kong-listed Meitu, whose apps let users touch up their photos, bought nearly US$100 million worth of the world’s two largest crypto tokens in March and April in 2021, it said.

The company had been disposing of its crypto holdings since last month, and sold all at an aggregate value of nearly US$180 million. Meitu no longer holds any bitcoin or ether, according to a filing to the Hong Kong stock exchange.

Meitu has cashed in its crypto holdings amid a price surge following the re-election last month of former US president Donald Trump, whose crypto-friendly rhetoric such as a promise to create a bitcoin reserve contributed to investor enthusiasm.

The world’s largest cryptocurrency has climbed more than 130 per cent since the beginning of this year, breaking US$100,000 for the first time on Thursday morning, after Trump selected digital-asset proponent Paul Atkins to head the Securities and Exchange Commission.

Meitu’s journey with cryptocurrencies has been bumpy amid wild swings in prices over the past couple of years. In July 2022, the company warned investors that its losses could widen by as much as 154 per cent in the first half of the year as the sector suffered market turmoil from a slew of controversies that year.

Meitu said on Wednesday that it would use 80 per cent of its crypto investment gains to pay shareholders a special dividend that will be made in cash in June or July next year.

The company will use the rest of the proceeds as working capital, as it looks to refocus on developing its core photo, video and design products.

Meitu has over the years struggled with bets to monetise its apps, including attempts to produce smartphones designed specifically for selfie enthusiasts and turning its selfie app into a social media platform.

But a recent push to incorporate artificial intelligence (AI) into its photo and video editing apps appears to have given a major boost to performance. The company said in March that its 2023 profits surged 233 per cent year on year thanks to its AI tools.

Meitu shares were up 3.15 per cent on Thursday morning to HK$2.95 (40 US cents), 65 per cent lower than its listing price in 2016.