4 ms·

All large enterprises keep cash reserves. Whether you agree or not, the prevailing thesis behind keeping cash reserves in BTC is not that it will turn a profit

• nexthash 6y ago
  That's a ridiculous assumption to make. Bitcoin's value comes from speculation, not from anything of value in the real world. The price could tank to $500 tomorrow, because there is no government, no trust, and nothing in the real world backing it up other than hype. In light of this USD devaluation seems like a way less risky alternative.
  • danhak 6y ago
    It is nonetheless the prevailing thesis behind BTC, and many highly-regarded fund managers are starting to allocate serious portions of their reserves to cryptocurrency.
  • sperma 6y ago
    HN is the only place I know where users are this stubborn to keep their head in the sand about Bitcoin. It's been 12 years man. Bitcoin could not tank to $500 tomorrow. It never will. Sorry
  • oleganza 6y ago
    The important thing is how probability of BTC tanking to $500 compares to probability of USD tanking in BTC terms in the next few years. Historical data hints that we are not close to the peak of the current bubble and when BTC drops it probably won't be lower than today, or at least, not for a long time. Of course there is also probability that the 12-year trend will crash into zero, but that probability dwindles with every year Bitcoin isn't broken and every popped bubble that lands on an even higher low.