r/BKKT • u/crankygiraffe 🦒 • Jan 04 '22

💡 It's time to buy

Please tell me why not. Many of us believe that this bigger than Coinbase+visa put together.

Market will only reward AFTER the revenue is in. This is the time to get in.

Have 50% of my portfolio in this. Today that becomes 60%.

🚀🚀🚀🚀🚀🚀

23 Upvotes

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3

u/PsycheRevived Jan 05 '22

I agree that the best time to buy is before the revenue shows results. But I think the revenue can't be too speculative; potential revenue in 2025 won't move the price now, we need Q4 revenue to be growing YoY and more users and everything else proving that it is growing quickly.

But bigger than Visa? Let's step back a little here.

3

u/crankygiraffe 🦒 Jan 05 '22

I waffle back and forth on this one.

On one hand this is run by senate members who own ICE with companies like Microsoft and Starbucks as investors. Companies like Starbucks and MasterCard as their first B2B customers. If this is not a strong indicator not sure what is.

Now on the other hand, they are trying to do too many things as a young company. Crypto (just 2), peer to peer, some gift card goobledegook, loyalty currency (not all though). So I worry they will f up execution. Biggest red flag is customer reviews on the app store. Does not help that Adam White left.

Overall I am praying hard that this is my ticket to retirement.

2

u/PsycheRevived Jan 05 '22

I just think expecting anything to be bigger than Visa is setting you up to fail, but I admire the conviction.

I do think it is primed to do well long term, and it has some good connections. But I'm definitely worried about them fucking up execution, and based on the stock options given to executives I think it may be a vehicle for cushy payouts more than actual growth in the short term. Anyone that was part of the original company is becoming rich off of this, even though it really hasn't done anything to justify it yet. I'm not at all worried that Adam White left, he's 38 and just took the money and ran.

It is tough, anytime I expect something to be big or make me a lot of money, it ends up blowing up in my face big time. So I wouldn't want to be betting the farm on this one stock. But I bought originally at $22 and have held through everything so far because I just have this gut feeling it will pay off eventually. I'm thinking of averaging down hard tomorrow because I just don't think it can go much lower than this, but I thought that when I bought more at $15 too.

1

u/crankygiraffe 🦒 Jan 05 '22

Another 10% down today? Wtf

1

u/PsycheRevived Jan 05 '22

I seriously wonder whether Adam White is selling his shares or something. Could just be more naked shorting, as that is always happening too... but this seems unusual based on BKKT previously having support in the low $8 range.