This is so big: A publicly traded firm decided to invest half of his 500 millions excess cash reserves buying bitcoin, deliberately dumping the ever value loser, inflationary, exponentially printed fiat currency, to embrace the superior hard money, digital gold, Bitcoin.
I agree. MicroStrategy isn't a huge company in terms of market cap ($1.3 billion), but the fact that they'd buy a huge amount of bitcoin to hold as its "treasury reserve asset" (I don't know exactly what that means) is indeed big news for bitcoin. What I'm wondering is what their shareholders are going to think about it, and I'm putting MSTR on my stock watchlist. I'd never heard of them before, but it looks like they've been around for years and their stock has done pretty well over the past decade.
And lol, reading the summary of what the company does, I can barely understand a word of it:
MicroStrategy Incorporated is a provider of enterprise software platforms around the world. The Company is engaged in the design, development, marketing and sales of its software platform through licensing arrangements, and cloud-based subscriptions and related services. It focuses on providing enterprise customers with software platform and services for deploying intelligence applications. Its platform, MicroStrategy 10, consolidates analytics and mobility in a single platform, available both as on-premise software and as a hosted service offering in MicroStrategy Cloud. Its enterprise platform combines business intelligence functionality with data discovery, mobile analytics and identity intelligence generated by digital credentials. MicroStrategy 10 consists of MicroStrategy Analytics, MicroStrategy Mobile and Usher. MicroStrategy Analytics offers solutions to organizations to analyze a range of data and distribute actionable business insight throughout an enterprise.
**Quote from TD Ameritrade**
This is so bullish. A new era for Bitcoin in the path of a recognition as a superior Store Of Value.
Maybe. It would be far more bullish had the company been Microsoft or Amazon. And I'm not sure how big a story this is overall. You and I certainly find it to be incredible, but that doesn't mean the market is going to react to it at all. We'll see.