BlackRock owns 8% of MicroStrategy | Bitcointalksearch.org

aoluain

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Quote from that Fortune article....

Quote from: PIMPdev on August 06, 2023, 09:27:48 AM

I didn't know that, but I'm not even surprised. Sometimes I think that Michael Saylor doesn't speak for himself and just says what he told to.

I strongly doubt it, if you mean Blackrock are pulling his strings then IMO with 8%
share in the company they are not and I would counter that they are 8%in on the
company is because of the way MS talks!

Poker Player

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Quote from: passwordnow on August 06, 2023, 11:05:54 AM

It's still quite fearsome because we all know that they won't just keep on buying Bitcoin. A time will come that they'll have to sell, dump and get profit from it but we don't know when.

Not necessarily. If we listen to what Saylor says, they are not going to sell Bitcoin, and in any case if they need liquidity, they will borrow against it. According to the theory, an asset that does not stop appreciating, you can refinance it and spend the cash without selling and having to pay capital gains tax. This is how many billionaires do it.

Another thing is to what extent we trust Saylor, but in this respect I would not be surprised if he would follow that plan, perhaps with some small exception such as selling a small amount as he already did for tax purposes:

Bitcoin’s biggest buy-and-hold evangelist sells BTC for first time ever after spotting lucrative U.S. tax loophole

Tytanowy Janusz

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Quote from: Cuenta Alternativa on August 06, 2023, 09:37:41 AM

So, what? Saylor still controls the vast majority of the voting power.

Its not about that. microstrategy's operational activity and business profits is negligible compared to its exposure to the price movement of bitcoin, which makes microstrategy something like a bitcoin ETP, which was also pointed out by Sailor himself. And the fact that blackrock already bought microstrategy a year ago proves that the company already had a large exposure to bitcoin even before it officially began to admit it and I think thats what OP had in mind making this thread (@OP we shouldn't have been guessing that right?)

iBaba

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Quote from: tw0.625 on August 06, 2023, 08:50:23 AM

BlackRock bought $300,000,000 worth of $MSTR shares over a year ago.

MicroStrategy currently owns 152,800 $BTC

Dear OP, you should have expanded this post to make it clearer on the point we're driving at. However, It was recently disclosed that BlackRock and other major institutions had been secretly purchasing Bitcoin even before an ETF was available. While the SEC was busy accusing Binance and Coinbase, these banks were expanding their cryptocurrency exposure.

passwordnow

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This isn't new in these markets, one company buys more shares from the other one and vice versa.

Quote from: Cuenta Alternativa on August 06, 2023, 09:37:41 AM

In other words, the purchase will not affect how the company is managed.

Right, and it's also possible that even if BlackRock gets more share than Saylor, they can just let him handle it if they think he's doing the right thing.

Quote from: Cuenta Alternativa on August 06, 2023, 09:37:41 AM

Without being a saint of my devotion BlackRock, it is simply what it does, invest a lot by diversifying, and Saylor also has its dark parts but I prefer him in charge of the company that owns more bitcoins than BlackRock.

It's still quite fearsome because we all know that they won't just keep on buying Bitcoin. A time will come that they'll have to sell, dump and get profit from it but we don't know when.

tw0.625

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Quote from: ImThour on August 06, 2023, 10:40:58 AM

I am not sure what to make out of it, 8% isn't something big. You need 51% to have an influence on board voting's and other meetings results.
And if we are talking about only Bitcoin, I am sure both of them will agree to acquire more Bitcoins as possible before the next bull run.

MicroStrategy is currently the biggest Bitcoin Holders as a company. They need to buy 194,481 in total to have 1% of the Total Circulating Bitcoin.
They need BTC 41,689 more.

MicroStrategy plans to sell up to $750 million of stock to fund, among other things, more BTC purchases.

Dunamisx

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Quote from: tw0.625 on August 06, 2023, 08:50:23 AM

BlackRock bought $300,000,000 worth of $MSTR shares over a year ago.

MicroStrategy currently owns 152,800 $BTC

It is very important that when releasing information like this to the public, we should learn to attach their reference link along, how could we know or understand the clarity on this without giving us a reference, though this does not change anything about the bitcoin giant whales or other holders, not to even assume for a stand to alter the market price to rise more or fall, as @ImThour had mentioned, just 8% cannot make a deliberate fluctuations or change from what Microstrategy are holding.

ImThour

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I am not sure what to make out of it, 8% isn't something big. You need 51% to have an influence on board voting's and other meetings results.
And if we are talking about only Bitcoin, I am sure both of them will agree to acquire more Bitcoins as possible before the next bull run.

MicroStrategy is currently the biggest Bitcoin Holders as a company. They need to buy 194,481 in total to have 1% of the Total Circulating Bitcoin.
They need BTC 41,689 more.

Cuenta Alternativa

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So, what? Saylor still controls the vast majority of the voting power.

Quote

As of 1 February, Michael J. Saylor held 1,961,668 shares of MicroStrategy’s Class B common shares. Only 1,964,025 Class B shares have been issued by the company. This means that Saylor has control over 67.8% of the corporation’s voting power.]As of 1 February, Michael J. Saylor held 1,961,668 shares of MicroStrategy’s Class B common shares. Only 1,964,025 Class B shares have been issued by the company. This means that Saylor has control over 67.8% of the corporation’s voting power.

In other words, the purchase will not affect how the company is managed. Without being a saint of my devotion BlackRock, it is simply what it does, invest a lot by diversifying, and Saylor also has its dark parts but I prefer him in charge of the company that owns more bitcoins than BlackRock.

PIMPdev

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I didn't know that, but I'm not even surprised. Sometimes I think that Michael Saylor doesn't speak for himself and just says what he told to.

DapanasFruit

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I am not so sure what could be the implications of this reality...but I am looking at it in a not so positive way though of course this is a big vote of confidence with a well-known platform which is heavily into Bitcoin. while I believe that it would have been better if more and more ordinary guys would be holding BTC, we could not stop financial institutions from also staking their resources in the future of BTC as this is very much open to anyone.

tw0.625

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BlackRock bought $300,000,000 worth of $MSTR shares over a year ago.

MicroStrategy currently owns 152,800 $BTC

Topic: BlackRock owns 8% of MicroStrategy (Read 103 times)