How does NexTech even hold a glass of water with hands that weak?

in LeoFinancelast month

NexTeck has the weakest of them weak hands

NexTeck excited their shareholders a few weeks back when they said they were gonna put $2 million from their Treasury into bitcoin.

The intent of the move was to diversify their treasury with a long term investment in digital gold.

I am sure the move was encourage by the praise MicroStrategy had received for a similar move, though the sizes of the moves were night and day.

However, after a few weeks of holding, them weak hands got in the way.

When news of that double spend event broke, they dumped that $2 million worth of bitcoin like a champ (chump).

Sees:

image.png

(Source:

1352668104392896519/photo/1) twitter metadata:RnVsbGJlZXJib3R0bGV8fGh0dHBzOi8vdHdpdHRlci5jb20vRnVsbGJlZXJib3R0bGUvc3RhdHVzLzEzNTI2NjgxMDQzOTI4OTY1MTkvcGhvdG8vMSl8 ~~~

They netted roughly $200k in profits from the holding, but risking $2 million in something like bitcoin to make $200k hardly seems worth it.

They coulda made 10% holding something with a lot less volatility than bitcoin, which would also imply less risk.

Anyways, have you have seen anyone flip that quickly from being a long term holding to bailing on their position?

That sounds like an old friend of mine I used to trade stocks with, he'd tell me all about the fundamentals of a company like he was going to be investing in it for years.

He'd buy the dip on it and then get a 10% move in his favor and he'd be out.

I'd ask him why he didn't invest for the longer term and he'd respond with something like, "hey I made money, time to move on".

Hard to fault that statement but why do the research on the company as a long term investment if you are just playing a 10% bounce?

Anyways, NexTech will probably make another announcement like this later in the year...

"NexTech announces they have invested $2 million into Bitcoin at an average price of $112k per coin due to our belief in its long term potential as a form of digital gold."

Them weak hands love to fomo in and out, usually at the wrong time.

Posted Using LeoFinance Beta

Sort:  

NexTech will surely put the money back into Bitcoin again.
We just don't know when.

Posted Using LeoFinance Beta

They all eventually come back.

It's like an addiction!

Posted Using LeoFinance Beta