News for hackers. Stuff that matters.

A comment on Bitcoin surpasses $50K as major companies jump into crypto. Parent comment

Re:Bitcoin surpasses $50K as major companies jump into crypto by tippytippytango on Tuesday February 16, 2021 @09:45PM (#26162044)
They are just moving non-productive cash sitting around doing nothing and swapping it for an asset. It's just diversification, not diverting from production.
[ Parent | on HN ]
Re:Bitcoin surpasses $50K as major companies jump into crypto by BenoitEssiambre on Tuesday February 16, 2021 @10:13PM (#26162199)
Cash, if it's in a bank an not under a mattress, gets reinvested by the bank so it's not the same thing.
[ Parent | on HN ]
Re:Bitcoin surpasses $50K as major companies jump into crypto by kharak on Tuesday February 16, 2021 @11:33PM (#26162720)
If the bank issues credit to customers with that cash, you're right. If it buys stock, it's the same thing.
[ Parent | on HN ]