Post
Topic
Board Bitcoin Discussion
Re: Microstrategy Acquires 14,620 Bitcoin, Don't get carried away.
by
The Sceptical Chymist
on 29/12/2023, 07:00:08 UTC
Despite all this positive news, I suggest we shouldn't get carried away. Microstrategy has introduced a strategy of continuos purchase of Bitcoin. Why don't we do the same. As respective crypto ethusiast, continuous accumulation is also required, no matter the amount.
Because not all of us are wealthy, not all of us even have enough spare money to invest in an amount of bitcoin that's likely to make a difference in the future (and that's assuming it hits $100k or higher).  And most importantly, Saylor isn't using his own money to make these purchases with as far as I know; he's using Microstrategy's money.  I'd say 99.999% of members here don't have enough control over a business such that they can use its coffers to invest in bitcoin.

And man, I figured the last time he bought bitcoin wouldn't be his final purchase.  I'm just wondering how much he's eventually going to acquire.  I also wonder how he's buying it, whether it's on exchanges or through some behind-the-scenes deal so as not to move the market.  I don't know if that's ever been disclosed.

One other thought, which I've expressed before, is what happens if and when MSTR needs to liquidate a substantial amount of the bitcoin they have.  I don't know if it's enough to drop the price or not, but it certainly isn't a small number of coins they own.