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MicroStrategy Acquires Additional 19,452 Bitcoins for $1.026B
- rkalla 6y agoStep 1. Go all in Step 2. Go all-er in. Step 3. ...
- pradn 6y agoThere's some real comedy in this line: “The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin ...”. What even is the connection!
- edoceo 6y agoTechnology!
- loceng 6y agoTo use analytics to buy/sell more efficiently in the MLM scheme.
- dmitryminkovsky 6y agoYeah dual, totally disjoint “focus” is remarkable. I liked this a lot too: > “We believe our bitcoin strategy, including our bitcoin holdings and related activities in support of the bitcoin network, is complementary to our software business, by enhancing awareness of our brand and providing opportunities to secure new customers.”
- rtrdea 6y agoIt's advertising
- deleted 6y ago[deleted]
- jamesrr39 6y agoYes. A $1B advertising campaign! One might imagine there are more effective ways to run an advertising campaign. At any rate, it sure makes those superbowl advert campaigns look cheap.
- jcranmer 6y agoI think it's trying to say "by being known as the Bitcoin guys, we'll get free advertising for our existing products!" I don't believe it, though, as all I know about MicroStrategy is they're betting on Bitcoin.
- toyg 6y agoMan, I remember their stuff from 20 years ago, I'm actually surprised they're still around and with this sort of cash. Then again, for some of the hard problems in their space, it's not like we've seen much evolution... the BI space is dominated by fads.
- loceng 6y agoThey're aligning with the army/mob of people who own Bitcoin, who are part of the MLM scheme - that's trying to replace the financial transactional layer with one that rewards you in the future for adopting it, assuming you're not the last adopters left holding the bag.
- DebtDeflation 6y ago>What even is the connection! The economy is currently in the middle of an enormous asset bubble. Them buying SP500 Index Funds or Real Estate would probably raise more eyebrows, but they're a tech company and Bitcoin is tech stuff so it's ok or something.
- navaati 6y agoWhose eyebrows ? Can't a company invest however they wish ?
- rafale 6y agoFree marketing.
- stunt 6y agoLooking at the CEO's Twitter feed, he's clearly obsessed with customer satisfaction and employees' growth. https://twitter.com/michael_saylor https://twitter.com/michael_saylor
- Apofis 6y agoReminds me of a Bitcoin 'investor' scammer's account.
- numpad0 6y agoSee, that’s what savvy ones do. Buying at ATH, HODLing through dips, and finally exiting right before next ATH.
- hfsp 6y agoHave fun staying poor.
- seibelj 6y agoAnyone trying to understand Michael Saylor’s reasoning should listen to this podcast episode: https://podcasts.apple.com/us/podcast/the-bitcoin-standard-podcast/id1403202032?i=1000509234339 https://podcasts.apple.com/us/podcast/the-bitcoin-standard-p... He goes into great detail his logic and reasoning for doing the purchase, why he thinking it’s a good investment, etc. Going to give you a much richer understanding than the spitballing you’ll find in these comments.
- loceng 6y agoI haven't listened to it yet, I will - however the narrative has certainly been crafted, evolving, over the last 10 years to avoid mentioning or addressing the unavoidable pitfalls of Bitcoin; there isn't honest discussion among it, and pro-Bitcoin narratives are starting to earn the title of propaganda. Edit to add: the suppression tactics of downvoting counter-narrative comments instead of engaging with them is most common as well, financially incentivized to suppress counter-narratives.
- iagovar 6y agoI agree. You can get rich, definitely (or lose a lot of money), but if we're talking about protecting against FIAT inflation or money, there are better vehicles for that, and even better cryptos. But markets are about expectations above anything else, and this people knows that.
- loceng 6y agoI agree we need to protect against inflation, and there will be a blockchain structure that allows willing nations - not influenced by greed but consensus through decision making, reasoning, and democratic processes - save regulatory capture.
- yellow_postit 6y agoHere’s a non-Apple link to the podcast: https://saifedean.com/podcast/34-michael-saylor-on-the-fiat-standard/ https://saifedean.com/podcast/34-michael-saylor-on-the-fiat-... Off topic: Apple makes it very hard to find the name of the podcast and episode on iOS if you don’t have their podcast app installed.
- gdsdfe 6y agoI don't get it, why an analytics company is buying bitcoin ?
- hfsp 6y agoFounder has been transparent about btc: https://www.microstrategy.com/en/bitcoin https://www.microstrategy.com/en/bitcoin.
- stunt 6y agoHe is also very transparent about his strategy https://twitter.com/elonmusk/status/1340678358456274948 https://twitter.com/elonmusk/status/1340678358456274948
- Clewza313 6y agoVarious theories advanced include that it's the company buying Bitcoins from the CEO's private stash, or that their actual software business has gone down the toilet so they're just YOLOing on Bitcoins. Or possibly both.
- mrwd021 6y agowhy wouldnt they
- Closi 6y agoBecause it's not at all core to their general proposition of providing business intelligence, mobile software, and cloud-based services? They are a services company, not a speculative investment fund.
- dkobran 6y agoYour balance sheet is either cash, which can evaporate overnight due to rampant inflation which many economists are predicting, or you can convert some or all of that to BTC. As a company, you need to manage your cash. Companies invest their balance sheet in debt, money markets, etc. That doesn’t imply that you are somehow a fund. You have no choice but to manage your cash. I recommend just reading Michael Saylor’s posts or listen to this podcast which provides a good summary of their thinking: https://open.spotify.com/episode/1VwUjvMNeoOeyiQwP3im6G?si=zxN2YVRAQB-H_wbQgKrbaQ https://open.spotify.com/episode/1VwUjvMNeoOeyiQwP3im6G?si=z...
- JPKab 6y agoThe software is absolutely a shit show, and this cements the belief they are distracted and have given up in their core business.
- loceng 6y agoThe VC-financial industrial complex is really ramping up their efforts lately. Who will be the people left holding the bag, will regulatory capture lead us to forcing people to need to buy Bitcoin to function in society?
- hfsp 6y agoVCs do not believe in btc. If you hate VCs, buy btc.
- PedroBatista 6y agoVCs believe what they see as an opportunity to make money and say what the right people want to hear. Some believe in btc, others don't.
- hfsp 6y ago>*VCs believe what they see as an opportunity to make money and say what the right people want to hear.* Agree 100%. >Some believe in btc, others don't. Let's be real. The split is closer to a handful of independent VCs like Chamath, Draper, Thiel are heavily in. No idea on data, Pareto maybe. Maybe fatter. The rest of the pack is massively short. The rest of the pack is looking for "crypto" and "the next" btc, dabbling in borderline/securities peddling as decentralized, icos, icos v2 in defi... VCs are easily short btc. VCalacanis admits to getting destroyed by his wife's HODL of btc.
- titzer 6y agoThose 3 trillion dollars that the Fed injected into the financial industrial complex in April [1] (by way of increasing asset purchases) really rescued this economy! It's fractal bubbles, everywhere. Who's gonna be left holding the bag? The people at the bottom who have (meager) savings in cash. Their assets will get inflated away by endless QE. [1] https://fred.stlouisfed.org/series/WALCL https://fred.stlouisfed.org/series/WALCL
- loceng 6y ago
- ffggvv 6y agoit’s pathologically insane they did this with a bond. imagine lending someone money to buy bitcoin
- christiansakai 6y agoA company that doesn't produce anything of value get infinite P/E ratio due to Bitcoin. Compared to companies like AAPL that consistently produce products and tools that changes the lives of millions of people with only P/E ratio of 3x (<-- this means 30 something, not 3x as in 3 times, what I really want to say is, 30 something times)something. This world already broken beyond repair.
- JohnJamesRambo 6y agoHas Apple changed lives for the better though? I’m not sure anymore. A perusal of the literature on mental health effects of technology (specifically phone) addiction would say no. There are too many studies to post as a reference and they all say the same thing.
- christiansakai 6y agoThe keyword is "compared". Read again.
- hahla 6y agoHas bitcoin changed lives for the better? I'm not sure what this has in relevance to the prior comment on PE ratios?
- rafale 6y agoIn countries with totalitarian and/or corrupt governments, it did. Venezuela, Argentina, Russia, China, ... Even the US is testing its people trust and confidence with its aggressive money printing. Doesn't feel like free markets when there is a buyer of a last resort with infinite money.
- JohnJamesRambo 6y agoIt has certainly changed my life for the better. I escaped a monetary system that was set to enslave me for life.
- newsclues 6y ago
- trimbo 6y agoThey paid an average of $52,765 So their new purchase has currently lost 7% but their stock is up 9% today. It all makes perfect sense!
- endisneigh 6y agoSo when all companies have substantial amounts invested in Bitcoin and therefore a non-trivial percentage of their performance is tied to Bitcoin, what will the world do to prop up Bitcoin when there's another 100 year catastrophe? It's sad how little faith some of these companies have in humanity - surely a billion dollars could result in better performance by investing in their own labor?
- mdale 6y agoWon't bitcoin be due for a bit of a drop one quantum computers unlock some percent of the wallets. https://decrypt.co/28560/quantum-computers-could-crack-bitcoins-encryption-by-2022?amp=1 https://decrypt.co/28560/quantum-computers-could-crack-bitco...
- asdf333 6y agoyes if that happens bitcoin is over. but having said that it doesn't seem like it'll happen soon.
- rafale 6y agoNot just Bitcoin. Traditional banking, SSL, everything. Also the crypto used in the above will be upgraded to quantum proof algorithms before then. The math is already known.
- kinghajj 6y ago"With Bitcoin, a private key, picked at random, is run through these algorithms to generate a public key. And the Bitcoin protocol uses the hash value of this to create a public Bitcoin address. A quantum computer could reverse this process and derive the private key from a public one. And voila! Bitcoin’s claim of inviolability and unhackability is gone, and you have access to any Bitcoin wallet you want." This is both right and completely wrong at the same time. It does mention that addresses are hashes of the public key, but then goes on to the unjustified leap that quantum computers would let you access "any Bitcoin wallet you want." That's absolutely false: addresses which have received Bitcoins but never sent them have not revealed their corresponding public key. There's no technique I'm aware of that would let a quantum computer efficiently invert the hash to find the public key. Most Bitcoin wallets are configured such that each time you send bitcoins to someone, the "change" of the transaction goes to a different address. The risk comes from when a single address is re-used multiple times for multiple transactions, and has sent those proceeds to other addresses. Such multi-use addresses have revealed their public keys, and thus would be susceptible to a quantum computing attack. This is way, though, the advice since the inception of Bitcoin has been never to re-use addresses in this way, but instead always to generate new ones as needed.
- jbverschoor 6y agoThis is simply tech getting rid of the fiat.. They'll trade BTC internally, and use fiat where needed.
- Closi 6y agoThis would be a total nightmare. The vast majority of suppliers and customers use ‘fiat’ and they are obligated to report in ‘fiat’ so why would they internally convert it to BTC just to convert it back out? This is a recipe for misreporting and accounting fraud too.
- runako 6y agoMicroStrategy market cap: $7.2B MicroStrategy BTC holdings: $4.5B 62% of the market value of MicroStrategy is its BTC holdings. Saylor is, intentionally or not, making MSTR a proxy investment vehicle for BTC.
- rfrm 6y agoBitcoin is useless to everyone that's oblivious of the current issue of Central Banks debasing the currency with unlimited money printing and the creation of bubbles in the financial market. First of all, Bitcoin is not a currency and it doesn't need to be a currency, it wasn't designed to be one, it was engineered to be an scarce digital asset that could be electronically transfered between two parties without the need of a middleman. These transfers can't be censored by nobody. Probably you don't see value in any of that because your country economy is right on track to recovery from the pandemic, you have inflation rate of 0%, or you went to a the bank with your parents when you was a child and they opened an account for _you_ . Well, that's not how it works in many other parts of the world, where you don't have access to banks, where you have staggering inflation rates that destroy your savings, where you don't have access to the financial markets where you can benefit from the inflation of stock prices caused by the money that the goverment gives Wall Street for almost free. Bitcoin is optional, you don't have to be part of this network. Probably the second scenario is what most countries in the world are living right now and that's why Bitcoin will thrive there.
- t0mbstone 6y agoIt would be insanely easy for the US Government to shut down bitcoin, if they wanted to. All they would have to do is make bitcoin illegal and have ISPs block bitcoin P2P traffic. They could also shut down the exchanges and prosecute people who were found to be attempting to buy or sell stuff with it. Bitcoin's value would plummet to almost nothing, virtually overnight. The ONLY reason bitcoin exists is because the government LETS it.
- seibelj 6y agoThere is the constitution and I’m not sure everything you said is constitutionally legal. The government could pass a law saying I need to slap myself in the face every morning, doesn’t mean it’s constitutionally allowed.
- rfrm 6y agoSure, they can prosecute everyone holding Bitcoin. It would be as effective as the war on drugs. They can shut down the exchanges, block ISP traffic but only in their jurisdiction. They cant't stop Bitcoin mining in every other country. They can't stop people from Africa doing business with Bitcoin. Or people in Venezuela where you see an real use case for this technology. The network will continue to grow without US if they choose that path. Or US Goverment realizes that Bitcoin might be the tool they need to revitalise the economy, and to avoid loosing influence and allowing China to continue growing stronger.