Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto Superior to Cash
⭐ Merited by fillippone (2)
Well, companies usually keep some sort of cash reserve if they're able to. I don't see any problem with a corporation deciding to keep that reserve in the form of bitcoin instead of USD or some other cash equivalent. Nor do I see any threat to bitcoin's future as a currency by MSTR's actions.
Is it even possible for a corporation to take a decision that would allow them to keep their reserve in any other asset, i do not think so it is possible, if it is a small private firm it might be possible as the individual can take the decision but that is not possible with a corporation as you need the permission of the board members to make those decisions and it is not that easy to convince everyone. With MicroStrategy one person (Michael J Saylor ) is holding the Chairman, President and CEO position and hence he can take his decisions about his reserve holdings.
source: https://blog.knoxcustody.com/bitcoin-safest-reserve-asset/
Hence their specializing in strategic operations after all and are the best in the world at it.
They knew exactly what they were doing every step of the way according to the above article if you read through it carefully enough to see where they were going with all this.
Bloody hell, they hold more BTC than grayscale after that buying spree.
https://www.forbes.com/sites/christopherbrookins/2020/08/14/microstrategy-just-sent-green-light-to-corporate-america-on-bitcoin/#7b3cda916bc4