So some asian dude invests in a Bitcoin related company.
He did not invest in bitcoin
So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.
Are you for real? Investing in BitPay IS investing in Bitcoins! Anything else is just absolute nonsense. Furthermore he's not "some asian dude", this is almost the equivalent of Bill Gates or Warren Buffet getting involved, and as I said he would never do it if the Chinese where to ban Bitcoins. This most likely not only means that China will be back on track soon, but serious investors are now openly in the game. Do you think Wall Street will stand idly by as Asias richest man moves into what could become a new global currency, or do you think that they will want a piece of the action?He did not invest in bitcoin
So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.
Since when is investing in a US based company the same as buying Bitcoins?
No matter how much you are uber-bull and want to spin this, this is not an investment in Bitcoin. It's an investment in a US based company.
I'll give you an example on a larger scale. Apple is a US based company and someone investing in Apple is good for the computer industry as a whole, regardless of where Apple HQ is located. Got it? In the same way investing in BitPay is good for the Bitcoin market because it's a company involved with Bitcoins.
Someone like Ka-shing is not interested in just hoarding Bitcoins, he want's to build the infrastructure because that's where the money is. Ask yourself this, what would you rather own - a bunch of gold or Visa and Mastercard? The answer is obvious, it's much better to own VISA or Mastercard rather than a bunch of gold because then you make money consistently and not only when you sell what you have. That's what the smart investors are after - consistency, not pumping and dumping.
He probably has also invested in bitcoin directly, as many investors have, e.g. Richard Branson (another billionaire).
But that is not something which needs to be announced.
Bitpay grows if number of bitcoin transactions increase. If number of bitcoin transactions increase, it means bitcoin has become more popular. Bitcoin becoming more popular will mean price will increase.
But that is not something which needs to be announced.
Bitpay grows if number of bitcoin transactions increase. If number of bitcoin transactions increase, it means bitcoin has become more popular. Bitcoin becoming more popular will mean price will increase.
That's pure speculation sucked right out of your thumb, and you have zero basis for that statement. You don't know what he has or doesn't have. You have the news article to go on, and that specifically says an investment in Bitpay. Not Bitcoin.
Also your inductive reasoning is not sound. The number of transactions conducted through Bitpay are not necessarily related to bitcoin price.
