Poker Pros Make Light of Bitcoin Plunge

The 30% or more plunge in the price of cryptocurrency Bitcoin this week from its $20K high has been mainly met by amusement rather than dread by the top pros who have invested in the virtual money market, Doug Polk, Vanessa Selbst and Daniel Negreanu among those hitting Twitter…

Selbst, the top earning female player in the history of poker, was referencing the huge daily and weekly swings that Viktor ‘Isildur1’ Blom is famous for in high-stakes online poker, and indeed it seemed as though Bitcoin – the biggest and most popular of the cryptocurrencies – was doing a good impression of the Swede’s nosebleed graphs.

After reaching an all-time high of around $20,000 per Bitcoin, it slumped as low as $11,000 at one point, before rallying to sit at around $12,800.

Doug Polk was one of those to share his thoughts on the fluctuating market, tweeting a couple of funnies…

…while Matt Glantz was less than worried by the tough day’s trading - one which saw one of the largest crypto exchanges Coinbase close for a couple of hours – the Poker Night in America stalwart sharing…

Daniel Negreanu’s tweet of what he calls ‘convincing arguments for buying Bitcoin’ sparked some interesting debate, and Negreanu himself appears to have already invested in the crypto markets…

Not all the top pros were quite as blasé about the big Bitcoin dip, however, although Jason Mercier’s ‘told you so’ is unlikely to deter anyone from sticking out the rough downturn, not the first and almost certainly not the last that the crypto market will see…

Mike ‘Timex’ McDonald is probably one of the poker world’s most-involved cryptocurrency ‘enthusiasts’, and has been regularly tweeting the ups and downs, ins and outs of the markets, although his latest was simple comedy genius, even if an old joke…

Jason Mo, one of those poker players who could bitch about lack of space in an empty mansion, did however seem to be reflecting a consensus view among many poker pros when he warned of the Coinbase marketplace…

Aside from the poker pros sharing their crypto worries, woes and witticisms, the major media were also all over the story like a rash, with headlines such as ‘Is the Bitcoin bubble bursting?’ to ‘Bitcoin goes on wild ride and it may only get crazier’.

Scott Seiver, however, can have the last word today as the price started to recover again, in a view widely held by those in the know…