Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
MicroStrategy (NASDAQ) plans to issue nearly $1 billion in corporate debt to pay off existing debt and buy more Bitcoin. This move continues the company's bold bet on Bitcoin despite recent financial losses. Michael Saylor, MicroStrategy Chairman, proposed in a recent podcast that US banks could offer USD loans backed by Bitcoin holdings, allowing BTC holders to generate yield without selling their assets. This idea has sparked debate with Saifedean Ammous, who views it as a risky proposition. Less than 30% of MicroStrategy's Bitcoin investments have been made at prices below $40,000 per coin, highlighting the company's poor timing in its Bitcoin purchasing strategy.
Less than 30% of MicroStrategy's bitcoin investments, in terms of dollars spent, have happened at below $40,000 per coin. https://t.co/VWq1hiZ0LQ
The most interesting aspect of MicroStrategy’s bitcoin purchasing strategy is how poorly they have timed their investments. More than 70% have occurred when bitcoin’s price was in the areas in white. (Full piece on @sherwood_news below): https://t.co/5adTONL9uI
Turns out the publicly traded company that buys the most bitcoin isn’t that good at buying bitcoin https://t.co/7r9r04z8p1 by @Jack_Raines