Jack Dorsey, Twitter CEO stated on a recent podcast that he is maxing out the limits on the Square Cash App and purchasing $10,000 dollars of Bitcoin a week.
TIL @jack is maxing out the weekly $10k BTC buy limit. I guess smart money has been loading up on cheap BTC all along. https://t.co/zs1R04zn45— girevik (@girevik_) March 4, 2019
If the Twitter CEO wants to buy more Bitcoin, we suggest he turn to Coinbase. Buy and sell limits are much higher.
On Coinbase regular users can purchase $25,000 a week. Verified users can purchase $25,000 a day. But once the funds are in your Coinbase wallet, there are no buy or sell limits.
What Jack Dorsey, Twitter CEO is likely doing is simply a dollar cost average strategy. Dollar cost averaging (DCA) is an investment strategy where a large purchase of a financial asset like
“In a surprising turn in the conversation, he explained that he purchased $10,000 worth of Bitcoin, which currently amounts to 2.7 BTC, over recent weeks, and could do the same again in the following. Doing some napkin math, this works out to around $520,000 in cryptocurrency purchases a year (considering he doesn’t go over that amount or purchase any other digital assets) — or about 0.0928% of his $5.6 billion net worth. Although this isn’t a relatively large amount percentage-wise, it shows that Dorsey is looking to accumulate for the long haul, as he dollar-cost averages in.”
Twitter CEO, Jack Dorsey Discusses Bitcoin On The Joe Rogan Podcast:
Are you ready for the next crypto bull run? Many investors are using strategies like dollar cost averaging to build a diversified portfolio in preparation for the next major price movement. Stay tuned to the Bitcoinshirtz blog for the latest news from the Bitcoin and blockchain industry. 👍
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