Bitcoin plunged to as low as $39,787 Tuesday as investors learned that Jerry, the cashier from GameStop, decided to stop his $10 Bitcoin DCA.
DCA (Dollar-Cost Averaging) is when an investor puts a set amount of money into an asset every certain amount of days/weeks/months regardless of the price. When questioned about the decision to stop his DCA strategy, Jerry said "I have been notified by the wonderful r/Buttcoin that Bitcoin is a Ponzi scheme and will be going to zero shortly. I am sorry to everyone I let down by pulling out of the market and causing a crash, but you need to realize sooner or later the gig will be up and all of your money in Bitcoin will be lost. Get out while you still can. This is not financial advice."
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London 10°C
New York 8°C
Paris 10°C
Tokyo 16°C
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