In domain industry circles MicroStrategy (Stock price: MSTR (NASDAQ) $317.60 +16.40) is known for being the company that sold Voice.com for $30,000,000. While the company still owns a nice portfolio of domain names, they are a big believer and big holder in Bitcoin. They now hold more Bitcoin than the U.S. government.
Business intelligence company MicroStrategy has added to its Bitcoin (BTC) stash, with a purchase of 29,646 BTC for a total of $650 million, an average of around $21,925 per Bitcoin
CEO Michael Saylor tweeted the news immediately following a pullback in price to $22,247, although it is unclear whether the acquisition coincided with this event.
MicroStrategy announced its intention to buy more Bitcoin earlier this month with a $400 million debt security sale to raise funds for the purchase. The bond sale ultimately brought in $650 million, which has now been used to buy Bitcoin as promised.
Bitcoin since 2014 was speculation now it returns the same.
The Bitcoin keyword started long before 2009 https://en.wikipedia.org/wiki/Hashcash.
Merry Christmas and Happy New Year
Raise debt to buy more Bitcoin, now there is a losing strategy by a publicly listed company.
Downgraded (December 8th) by Citibank to “Sell” because of this losing strategy.
Feel bad for the shareholders.
Mark you’re ignorant views showcase a small time mentality. He has made hundreds of millions already off the treasury transfer. Saylor is a visionary unlike you (taking the time to post your ignorant content on all these sites as if you know what you’re talking about).
Mark, spot on. I like that they are a pioneer domain investor and obviously know how to maximize their long term assets therein, however; this play seems oddly desperate. Perhaps motivated by fear of missing out, market euphoria or some other unknown factor, it just can’t be seen as prudent to leverage up for something that is highly speculative at best and a technological Ponzi scheme at worst. In a protracted financial downturn, which most people clearly think will never happen again (given the outlandish moves going on), I believe Bitcoin will be obliterated. It just hasn’t been through any challenging market cycles yet. Perhaps some will time and play the game perfectly, but there is little doubt in my mind that many will not. And the result could be costly beyond belief.
then you would have to concur that gold is a ponzi scheme. you obviously missed out on early bitcoin. you sound so old fashioned and hopelessly tied to the “old world”. sad.