Post
Topic
Board Economics
Re: Microstrategy Stock Jumps 9% Following Bitcoin Investment
by
damberg
on 30/09/2020, 08:14:51 UTC
Well, as I expected, Microstrategy was purchased by bitcoin only to hedge their risks in the stock market and they are not particularly interested in investing and developing their crypto investments.

Michael Saylor himself confirmed that they are ready to sell all their 38,250 bitcoins at any time. I think everybody understands that it will be a big dump and bitcoin's hike to 9k minimum.

Those who were glad that Microstrategy helps bitcoin grow..... now as if it had to grieve because of them, it is now falling.

To view Michael Saylor's position, please click here: https://www.bloomberg.com/news/articles/2020-09-22/ceo-says-bitcoin-is-safer-after-moving-firm-s-cash-to-crypto.


Considering that they are ready to sell the whole pile of bought Bitcoin, it looks like a massive and risky bet by the company executives (except if they know something that we don't know yet). They are not interested in crypto industry, their purchase made a headline once or twice, but the company will probably never enrich crypto sphere with their own product or solution.  Sad