Jack Dorsey continues buying $10k worth of BTC every week

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For those wondering if demand will stay constant post halving, here's an example...

Jack Dorsey, the CEO of Twitter, announced over a year ago that he was buying bitcoin.

More than just buying bitcoin, he was buying it in bunches.

He announced at the time that he was maxing out the Square Cash App limit each week with his bitcoin purchases.

For those that aren't familiar, that is equal to $10k worth of BTC per week.

Not a ton of money for a billionaire, but what if he was doing that every week for over a year now?

Well, it sounds like he might be doing just that...

In a tweet the other day, Jack confirmed that he is still maxing out the Square Cash App weekly BTC limit, presumably every week.

Here's the tweet:

(Source: https://twitter.com/BitcoinMunger/status/1260040944080076800)

He initially said he was maxing out BTC purchases on the Square Cash App back in march of 2019.

A perfect example of demand staying constant in the face of shrinking new supply...

This is a perfect example of someone who is continuing to buy the same amount of BTC regardless, well I guess I should say, the same amount of USD worth of BTC.

For some napkin math, lets say he has been purchasing $10k worth every week since March of last year...

That would be $10k x 60 weeks = $600k invested.

Jack hasn't revealed his total holdings previously, but it seems likely he has invested at least $600k in the last year alone.

Not a large number in the grand scheme of things, but it goes to show how some of the demand doesn't change.

Looking at previously listed filings and announcements, and it looks like demand via Grayscale and Cash App have been increasing over the last year, and at this point they account for some of the largest demand in crypto.

If the demand is staying constant or increasing, while the new supply is cut in half, what do you think happens to the price?

I have a guess...

Stay informed my friends.

Image Source:

https://bitcoinexchangeguide.com/jack-dorseys-recent-bitcoin-bullishness-could-be-an-indicator-of-his-lightning-lab-investment/

-Doc



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14 comments
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What a beast move, hopefully one of his sluts doesn’t find his private keys underneath his mattress whenever he’s taking a post-nut leak 🤣😂🤣😂

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Lol, where did that come from?

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Lol, where did that come from?

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Just me being random. I imagine that if it’s so easy to spend $10,000 a week on Bitcoin, then it must also be affordable to buy unlimited women. All having the chance of infiltrating and discovering keys. Some James Bond stuff you know how it is.

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Dorsey and people like him can do a lot for the entire space. Like mentioned, $10K a month is not much for a guy like that. BTC integrated into his businesses would provide an enormous amount of transactions.

We are seeing so many things moving forward. It is exciting to watch.

Posted Using LeoFinance

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I think that is his plan at some point.

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I'm buying 10 EUR worth of stocks every month... lol... I could buy a lot more, but I have saved some so I can buy crypto too...

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What stocks?

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I don't know... I've set it to automatic buying... Internet has been flaky here since the pandemic started, so I can't load anything on my phone. Nowadays banks use only mobile login, so trying to view anything on desktop PC is pointless.

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That's some serious dollar-cost averaging the mans got going there. Pretty sure his investing more in blockchain companies, investing in the shovels not the gold

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He's doing both. Though not buying any altcoins. It's bitcoin or bust.

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I read this the other day, and it piqued my interest. That's quite the Hod'l for one person to do, but I wonder if he's going to influence any other big-time billionaire to do the same? I hear Square's punching in a whole bucket loads of BTC transactions, and they're banking quite a lot of revenue on that. All in all, bullish sentiments all around!

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Coolest CEO for a reason he has been really positive regarding cryptos specially bitcoin he is leading the change ahead

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