Even though we probably should not be kissing the asses of anyone in bitcoin, even if they end up serving as a pretty BIG bitcoin spokesperson in a lot of ways.. And surely Saylor ended up coming to bitcoin in a way that was quite aggressive and assertive in terms of his investment of both money and time, as Gachapin pointed out.
He’s more than that. MicroStrategy is a
de facto national intelligence agency for Bitcoin. Hello, what is their core business? Their highly profitable business, the proceeds of which they have used to buy all that BTC? Analytics and data mining to guide strategic business decisions.
Business Intelligence.(This also relates to some points on the POW vs. POS thread, where I will reply later.)
I am dismayed that they apparently got blindsided together with everyone else, as someone out there quietly built up terrifically huge short positions and prepared to execute a multi-pronged trashing of the market, timed to hit right after the big Fed meeting. But it’s not surprising. MicroStrategy are no dummies—but (I infer/upon information and belief) Blackrock, Citadel, et al. are no dummies, either. It is sharks vs. sharks, by analogy to “spy vs. spy”.
(Don’t forget that in mid-2020, Saylor himself
very quietly built up MSTR’s initial long position. IIRC, before he publicly announced it, he managed to scoop up something like 0.18% of the total then-existing BTC supply without anyone noticing.)
Not that timely intelligence on that would mean dumping BTC! Not for someone who is in it for the long term. If I had high capital and an inkling that a much higher-capital party was preparing to wreck the market, I would hold BTC long while shorting perps and dated futures, hedging with options, and taking other steps to batten down the hatches and secure my position with the goal of winding up with more BTC
and more dollars at the bottom.
FYI, I also take it as highly significant that
Saylor and his Business Intelligence company more or less suddenly exchanged their saved-up dollars to bitcoins in mid-2020. (They essentially switched their savings account to BTC—before they started exchanging some of their ongoing income into bitcoins,
and using debt to buy even more bitcoins.) That is the action of an
extremely well-informed investor, who had access to mountains of data that you and I have no idea about.
That’s much more significant than his tweets. Helpful though those are (thx, @saylor).