The epic spectacle that is the Bitcoin juggernaut MicroStrategy
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Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#2"MicroStrategy isn’t so much a software firm these days. It’s best described as an insatiable buyer of bitcoin. MicroStrategy is now the largest corporate holder of bitcoins, owning nearly 2 per cent of them, with no signs of stopping."
Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#3I want to say this end badly, and it probably will, but these bubbles sure can last a long time . If anything, the 90s tech bubble exceptional only in how soon it ended. Now we're in an era where everything is inflating so much forever.
Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#4"MicroStrategy isn’t so much a software firm these days. It’s best described as an insatiable buyer of bitcoin. MicroStrategy is now the largest corporate holder of bitcoins, owning nearly 2 per cent of them, with no signs of stopping." https://archive.is/QAKhT
Which is still small. For all the hype, miners, hedge funds, early adopters can easily overwhelm any buying by MSTR. If MSTR were smart it would deposit the $ on exchanges and then sop up any selling to keep the price stable, whilst selling CME put options to raise $.
Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#5> The current market cap of the company is $89bn while its reserve of 386,700 bitcoins is worth $37bn
Matt Levine also wrote about MicroStrategy's market funded bitcoin purchases:
"Sometimes, though, you find a stock-price-management strategy that is so good that the only reasonable reaction is to chuck out your operating business and spend all your time issuing stock. MicroStrategy is having a great time".
https://www.bloomberg.com/opinion/articles/2024-11-18/palant...
Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#6I want to say this end badly, and it probably will, but these bubbles sure can last a long time . If anything, the 90s tech bubble exceptional only in how soon it ended. Now we're in an era where everything is inflating so much forever.
You are continuously wrong about bitcoin. It's embarassing now.
Re: The epic spectacle that is the Bitcoin juggernaut MicroStrategy
#7I want to say this end badly, and it probably will, but these bubbles sure can last a long time . If anything, the 90s tech bubble exceptional only in how soon it ended. Now we're in an era where everything is inflating so much forever.
doesn't like inflation but wants deflationary currency to "end badly"
that's rough, bud.