Microstrategy CEO Michael Saylor spoke about bitcoin's prospects in an interview with CNBC's "Squawk Box" program last Friday. He discussed the institutional implementation of bitcoin, the regulation of cryptography.
His company currently owns 114,042 BTC. He was asked if he was going to continue accumulating bitcoin at the current price or wait for a further pullback. To this he replied“ "We will continue to add forever." According to him, the prospect of increasing the capitalization of bitcoin a hundred times is quite achievable and can reach the $100 trillion mark, in any case, he believes in it.
Thanks for that summary Daltonik.
It is funny that Saylor has been recently engaging in a kind of "trolling" behavior by playing on that "forever" meme idea... And, I doubt that he is even being untruthful even if it comes off as a bit of an exaggeration that attempts to make a point that continues to have difficulties sinking in for normies and for mainstream financial and media institutions.
Down the road, let's say after 1-2 cycles or even 4-10 years into the future, Saylor is likely going to be able to look back and say: "it's not like I did not try to tell many/most of you folks, but even when I did you had difficulties getting the idea of "forever" to literally sink into your thick lil noggins."
On a separate note, wondering when we will see another purchase by Microstrategy. It has been a while since last time.
I don't know about the rest of you, but I never expected them to just keep buying until they run out of cash or credit, which would eventually happen if MSTR continued their bitcoin buying spree. As I've said before, that money to buy all that
BTC has got to come from somewhere, and I don't think it's realistic for them to flood the market with corporate bond issuances just to keep the crypto rolling in.
I hate to continue to appear to be harping on you Pharmacist, but you seem to have a whole hell of a lot of difficulties appreciating MSTR's ongoing aggressive strategy, and the likelihood that it is way less risky than you are making it out to be. You seem to be continuing to create your own risk management framework and proclaiming that MSTR is in violation of it, but in a lot of senses, you are seeming to fail/refuse to appreciate what MSTR is actually doing and how the proportions play out.
Deep underneath all of that bitcoin investment is a business that has to run and is accountable to its shareholders. They aren't some sort of bitcoin holding company, after all, no matter how bullish Michael Saylor is.
Surely you are correct that there are two parts of MSTR's business, and surely the relatively BIG ASS stake that MSTR has taken in bitcoin has converted them into a kind of BTC holding company.. and even if that BTC holding company was not MSTR's original vision (or even within their vision two years ago), the company has pivoted - and surely has done such pivoting in a very interesting way.. including their ongoing public disclosures that likely remain part of how they are able to get away with nearly completely changing from what they used to do to what they are now doing, and no shareholder would have any kind of leg to stand upon in claiming that "I did not know" blah blah blah. I am not even saying that some of the shareholders might attempt to make those kinds of claims that they did not know or they were tricked or that some government institutions might not want to "come after" Saylor, so surely in that regard, there are going to be some potentially whiney folks who are going to want to make similar kinds of claims that you are making Pharmacist, and we will have to see how that goes (if it ends up happening).
Actually, likely another angle that Saylor is attempting to play is that if he can get companies to go even BIGGER than MSTR (and he) is going, then that will also provide additional protections for him regarding the bitter and whiney claims that could come from shareholders, governmental institutions or even status quo financial institutions or status quo rich folks who are going to be victims of the greatest wealth transfer in history especially if they continue to fail/refuse to take more aggressive positions into joining rather than fighting bitcoin.
