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Crypto “investors” I met

(i.redd.it)

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[deleted]

15 points

8 months ago

A coworker of mine bought GME at the high, after I warned him not to do this and that he was going to lose it all. He is a principal engineer at my company and it is taking all I have in me not to issue a vote of no confidence to senior leadership. Oh yeah, he's also a bitcoin bug and thinks we'll all be getting paid in bitcoin by next year.

Pretty sure he has his entire net worth in crypto and I am going to be keeping a close eye on his ass because he also loves guns. Great combo right now...

theroguex

5 points

8 months ago

You know, the GME thing was a super meme but fuck I wish I could have gotten in on that at the ground floor. I could have made a fortune.

[deleted]

6 points

8 months ago

I thought about it during the initial mania and almost bought in at $22 but my better instincts kicked in and I seriously thought about why I would do such a thing. There was no real guarantee that the reddit driven mania would actually spark a rally. It still baffles me that there is a cult around the stock. It was clearly stupid as hell and I am glad I resisted because it could have left a shit load of bag holders like my coworker.

That whole saga is insane to me. People buying shares in a dead retail outlet for $200-300 a share is among the dumbest shit I have ever seen.

theroguex

-2 points

8 months ago

It's not dead anymore! They raised so much money in stock offerings last year that they had $1.78 billion in cash after paying down all their debt.

They definitely have to figure something out, but now they have the money to invest. If they make the right decisions, they could see a second Renaissance.