How brutal is this, when the founder says that.
"We're in the toilet. We're at 18 cents.
It's a dead and failed project."
If you're favourite coin is down 90% over the last 5-years then it's in the same category.
"So you buy pieces of cardboard with cartoon characters on them and outperform the S&P 500?"
"That's right Dave"
"And these pieces of cardboard appreciate in value?"
"Most of them yes"
"And how much did you pay for this particular card?"
"$250"
"And what's it worth now?"
"$5,000 Dave"
"And you just kept the card for 4 years and did nothing?"
"That's correct"
"So you didn't start a business. You didn't build anything. You just bought a picture of a cartoon dragon and put it in your closet?"
"It's actually a Rayquaza Dave"
"I don't care what it's called. You're telling me a piece of cardboard outperformed the S&P 500?"
"By a significant margin yes"
"And these cards just keep appreciating in value? How is that even possible?"
"Honestly I'm not sure Dave"
@pete_rizzo_ All these billions in spot buys are being extracted via leverage positions timed impeccably hence its not moving the price and causing the “supply shocks”