MicroStrategy, greedy for Bitcoin, is preparing New Purchases
Although the group suffers losses even taking into account the total purchase price, it will not stop there and will try to accumulate even more Bitcoins. At the moment, according to Coinmarketrate.com, they have approximately 129,699 Bitcoins. The next step of the group headed by Michael Saylor will be the issue of $500 million worth of shares, the proceeds from which will be spent, at least partially, on BTC.
Bitcoin MSTR — what it invests in. An interesting move that will also put an end to the usual trail of arguments and jokes that punctually begins to fill social networks whenever MicroStrategy’s plans to buy BTC slow down.
Therefore, the group will seek to get its hands on more capital by acquiring shares of a company that is already stuffed with Bitcoin, effectively acting as a physically reproducing Bitcoin ETF. Yes, it is the very tool that Americans crave so much, and which Gary Gensler, as a sign of respect for the doctrine that many are trying to understand, continues to deny.
Class A shares will be sold through Cowen & Co and BTIG LLC, and at the moment there is no specific date or interval during which this sale should take place.
Michael Saylor puts Everything on Bitcoin
Even those who don’t have much sympathy for the character who has come to dominate the Enterprise space dedicated to Bitcoin will at least have to pay tribute to him. Despite suffering, at least from the point of view of public opinion due to the sharp drop from the lows that befell the king of the cryptocurrency market, at least compared to the peaks.
Even with the changes in leadership, when Sailor became “just” president, MSTR seems to be planning to increase its position on Bitcoin. For some, this is good news, for others, it is a peak compared to the recovery that began after the meme that says that MicroStrategy purchases should mark local highs.
Ignoring the teasers, the media continue to closely monitor the actions of the company, which now has virtually nothing left from its original business. Or maybe not, because just a few days ago the group announced important developments in the field of Lightning, designed to bring as many companies as possible to the world of BTC payments.
Billionaires living high life with Bitcoin? Why not?
The idea suggests that according to today’s market, there are some issues that we should consider before rejoicing at the arrival of billionaires and tycoons in the Bitcoin world who are ready to devote a significant part of their fortune to it.
First of all, liquidity: moving a large amount of money, and then returning it back to fiat, of course, makes itself felt, and you will have to go through the exchanges, which in any case work in full compliance with the law, and withdraw them for yourself.
As we have said many times, it is hard to imagine that even such a rich protocol as Bitcoin can offer large-scale support for this type of operation. The fact that several billionaires allowed themselves to get carried away with the unusual possibilities of Bitcoin, of course, remains incredible. But, we should not forget how all this can end. Just look at Michael Saylor.