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✨ Wall Street legend Bill Miller on why he started buying #Bitcoin at $500, exactly 10 years ago Today, it's 50% of his total net worth 💫 https://t.co/VUQk7ed0Mj
MICHAEL SAYLOR: I started thinking about it… by late May of 2020, I bought $175M #Bitcoin personally. https://t.co/RAAcOA5OJt
NEW: Saylor explains how, faced with potential collapse or gradual decline, MicroStrategy took a major risk with #Bitcoin, even offering a Dutch auction to buy back $250 million of stock from dissenting shareholders 👀🙌 https://t.co/nruiVIemrk
MicroStrategy, the largest corporate holder of bitcoin, saw its stock drop by as much as 18% as the cryptocurrency market fell. CEO Michael Saylor continues to buy more bitcoin, now owning 1% of the total supply. However, JPMorgan warns that MicroStrategy's debt-fueled bitcoin purchases could contribute to market froth and increase the risk of a downturn. Investors in MicroStrategy are experiencing the brutal volatility of the digital asset market, with the company's stock showing its worst slide since 2022.