As a seasoned researcher with a penchant for the unconventional and a knack for navigating the complexities of the financial world, I would seize the opportunity to meet Michael Saylor in an elevator and ask him about his Bitcoin strategy. Given his recent social media post, it seems he is eager to discuss this very topic.
Have you ever pondered about the questions you would pose to MicroStrategy’s CEO, should you encounter him in an elevator ride?
In a recent social media post, the business mogul made it clear that he would want you to ask him about buying even more Bitcoin.
How do we buy more #bitcoin?
— Michael Saylor⚡️ (@saylor) September 25, 2024
According to U.Today, MicroStrategy recently bought over $458 million worth of Bitcoin on September 20th. This adds up to more than a quarter of a million coins in their possession. In total, they have invested close to $10 billion in buying Bitcoin.
The firm utilizes the funds raised through its bond sales to purchase additional Bitcoins. These bonds can be exchanged for shares in the future, or the holders can choose to receive cash instead.
Before I made my latest investment, a business intelligence company successfully gathered over $1 billion through an offering of their security notes.
How risky are Saylor’s Bitcoin bets?
As a researcher looking back on June 2022, I recall some buzz surrounding the possibility that MicroStrategy might have encountered margin calls due to a significant drop in the price of Bitcoin down to the $20,000 mark. Yet, upon closer examination, it turned out that such speculation was unfounded.
Despite Bitcoin setting a fresh all-time high earlier this year, there remains a degree of apprehension regarding the significant amounts of Bitcoin the company holds.
MicroStrategy won’t have to fulfill margin calls because its debt isn’t tied to Bitcoin as security. Yet, there’s still a chance that the company might struggle to fulfill its loan repayments if Bitcoin undergoes a significant downturn.
Bitcoin is currently trading close to the $64,000 level, according to CoinGecko.
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2024-09-25 18:43