As a seasoned crypto investor with a decade of experience under my belt, I find myself intrigued by the ongoing debate between Jason Calacanis and MicroStrategy. While Calacanis has a stellar track record in tech investments like Uber and Robinhood, his skepticism towards MicroStrategy’s Bitcoin strategy is understandable yet misguided.
Jason Calacanis, one of the best-known angel investors, recently questioned Saylor’s strategy.
Calacanis, famous for investing in pioneering ventures like Uber and Robinhood, stated that the company was bordering on the chaos of meme-stock frenzy. He questioned why anyone would spend $1 for only 80 or 90 cents worth of Bitcoin.
Responding to this, Saylor contends that Bitcoin symbolizes the digital evolution of capital. By creating financial instruments like bonds and stocks tied to the biggest cryptocurrency, MicroStrategy is speeding up this digital shift.
Nevertheless, it seems Calacanis remains unconvinced, pointing out that the company’s approach might be overly complex and challenging to express in a more straightforward manner.
According to U.Today’s report, MicroStrategy made an unprecedented Bitcoin acquisition worth $5.4 billion on Monday.
On Monday, the cost of Bitcoin dipped down to a minimum of $92,775. The drop in Bitcoin’s value occurred at the same time as a retreat in gold prices, which was indicative of a correction.
Calacanis, much like other analysts, is intrigued about the potential impact on the company should the price of Bitcoin experience a significant drop. Essentially, he’s wondering – if Bitcoin reaches $1 million, he looks brilliant; but if it falls back to around $30-40k, what becomes of the situation?
According to Lionel Laurent, a writer for Bloomberg Opinion, a significant decrease in Bitcoin’s value poses a significant threat to the company.
By 2018, Calacanis forecasted that there was approximately a 70% likelihood for the primary cryptocurrency to plummet to nothing. However, as of now, the possibility of such a drastic event occurring is less than 5%, as suggested by this well-known angel investor.
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2024-11-26 10:17