Patrick Bet-David Show’s Adam Sosnick Compares His Bitcoin 'Dry Powder' To The Tesla Cash That Built SpaceX

Bet-David said Bitcoin could go down to $30,000 or up to $130,000 on macro shifts, while Tom Ellsworth said Saylor's paper loss is meaningless until he sells.

• Adam Sosnick said the "dry powder" cash he has to buy Bitcoin resembles the risk capital entrepreneurs use to build ventures, like the money Musk used to launch SpaceX.
• Sosnick said he was able to buy Bitcoin at $10,000 and $20,000, and Saylor came on as a guest.
• The panel talked about Strategy’s $11 billion unrealized loss on Bitcoin, with Sosnick dismissing fears of sellers and saying Saylor would “have the last laugh.”

On Patrick Bet-David’s show, a panelist said that the cash he holds on hand to buy Bitcoin (BTC), what he called “dry powder,” is the same kind of risk capital that business owners use to start new ventures, comparing it to the money Elon Musk took from Tesla (TSLA) to launch SpaceX (SPCX).

Adam Sosnick, Senior VP of Sales at Welcome Funds, said on the show that he always has a large cash reserve and breaks his portfolio into short-term holdings, long-term retirement investments, and a higher-risk bucket. That allocation of risk, he said, is what has funded his purchases of Bitcoin and Ethereum (ETH). It’s like the capital entrepreneurs use to build companies, he said, pointing to the cash Musk used from Tesla to launch SpaceX.