MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
ir.microstrategy.com
MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
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Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#2"[We] spent months deliberating to determine our capital allocation strategy. Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe is creating long-term risks for our corporate treasury program ― risks that should be addressed proactively. Those macro factors include, among other things, the economic and public health crisis precipitated by COVID-19, unprecedented government financial stimulus measures including quantitative easing adopted around the world, and global political and economic uncertainty. We believe that, together, these and other factors may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types, including many of the assets traditionally held as part of corporate treasury operations."
Wow.
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#3Original press release submitted here: https://news.ycombinator.com/item?id=24120060
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#4"[We] spent months deliberating to determine our capital allocation strategy. Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe is creating long-term risks for our corporate treasury program ― risks that should be addressed proactively. Those macro factors include, among other things, the economic and public…
It seems to be a common sentiment but the general business people can't completely back it with macro data so everyone just brace for impact... I assume these folks have actual intel to take this big decision.
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#5This company apparently was/is quite cash rich. It bought back $250m of its own shares and then bought 250m of BTC... wow.
Does anyone have the wallet address? or pinpoint it?
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#6Here is a list of 20 companies buying Bitcoin recently:
https://www.forbes.com/sites/michaeldelcastillo/2020/08/06/v...
Keep in mind that 250 mil, and 250 mil times 20 is a drop in the $214.4 billion bitcoin market cap and doesn't move anything. Just a sign of mild interest.
Furthermore, Grayscale just ran a crypto ad campaign on large TV networks such as Fox.
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#7"[We] spent months deliberating to determine our capital allocation strategy. Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe is creating long-term risks for our corporate treasury program ― risks that should be addressed proactively. Those macro factors include, among other things, the economic and public…
wasn't quanatative easing done for like a decade after tbe recession with no inflation? why is there any reason to think this time around will be different? scale?
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#8It could also signal that they're unable to deploy capital to innovate (and bring future cash flow).... MicroStrategy has been an acquisition target for many years.
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#9If most assets are still rising and breaking all time highs in a downturn economy what it really means is that the dollar is falling in a race to the bottom with all other fiat currencies.
People avoid holding money by buying stocks and housing, not because of natural P/E ratio but forced by the continuously devaluation of cash.
What "money" do you expect businesses want to hold in this situation?
Re: MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
#10They do not care about the environment. Bitcoin contributes a lot to global warming by design.