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Showing posts with the label death

Munger and Kissinger deaths bring profits to shitcoin traders

When Berkshire Hathaway vice chair Charlie Munger died on Tuesday aged 99, the world lost one of its most vocal crypto critics. Famed for his particularly uncompromising anti-Bitcoin (or “rat poison” as he dubbed it) stance, Munger previously claimed “I’m not proud of my country for allowing this Crypto shit,” and decried it as “beneath contempt” and “contrary to the interests of civilization.” However, despite his fierce criticism, it appears that he’s already having a more tangible effect on the crypto space in the short time since his death than he ever did while he was alive. Indeed, just minutes after Berkshire Hathaway announced the death of Warren Buffet’s right-hand man, the MUNGER meme coin pumped over 30,000%. Of course, the token has been as volatile as you’d expect and after its initial jump, dropped 34% in an hour on Wednesday. It’s currently sitting at just $0.00000002921 and boasts a 24-hour trading volume of just $115,000. We can assume that thi...

Riot Platforms stock price analysis: Here comes the death cross

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Riot Platforms (NASDAQ: RIOT) stock price continued its sell-off even as Bitcoin and other cryptocurrencies held steady. The shares plunged to a low of $8.90 on Tuesday, the lowest level since April 6th. It has retreated by more than 56% from its highest point this year, meaning it is in a deep bear zone. Bitcoin is holding really well Riot Platforms is a major company in the  Bitcoin mining industry. The company runs some of the biggest mining rigs in the world. For example, its Rockdale facility is the biggest mining and hosting facility in North America. It has a deployed hash rate of 10.7 EH/s.  Riot Platforms and other mining companies like Marathon Digital, Cipher Mining, and Argo Blockchain tend to do well when  Bitcoin price is rising. This explains why the shares jumped to a high of over $20.6  when Bitcoin surged to the year-to-date high of $32,000. Therefore, it is quite surprising that the Riot Platforms share price has plung...