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So they spent $30 million of the $4 billion ICO money to buy a web domain. Smart move lol.
"There are 3500 publicly traded companies and there’s $5 trillion in their treasuries and it’s all melting and at some point, you have a fiduciary obligation to not lose the money.” The next 12 months are going to be very interesting.
‘Wow this social media site is really innovative, nothing else like it today. I should buy bitcoin’
A bold decision that everyone will remember in the future as a stroke of genius.
The first to take the step, but certainly not the last.
It's great to have an excess of $500 million in cash to park.
Here's the thing: A lot of funds (pensions, insurance, hedge, universities and so forth) have the same "issue" of huge liquidity reserves. Many are willing to pay interest to hold government bonds - i.e. negative interest rates, when in fact they are meant to achieve a return on funds invested.
If some of them were allowed to invest just a portion of their funds into Bitcoin there's no worry about the missing demand side point of view in the S2F model.
Selling voice.com domain name for $30M to EOS creator but buying BTC only, that speaks volume about all the alt coins
This is a huge bet for a publicly listed company. I'm actually quite surprised that the shareholders would let him go all in like that. There is still lots of risk holding Bitcoin - theft of keys, severe bug, drop in price, etc. This could end up in triumph or tragedy.
Taylor found himself reading up on bitcoin. He learned as much about crypto as fast as he could. Saylor said he pored over essays by “bitcoin luminaries,” listened to Nathaniel Whittemore’s and Anthony Pompliano’s crypto podcasts, scoured the internet for Peter Schiff’s bitcoin debates
LOL
“We just had the awful realization that we were sitting on top of a $500 million ice cube that’s melting,” Saylor said. MicroStrategy has settled on bitcoin as the treasury alternative.
“This is not a speculation, nor is it a hedge,” said Saylor. “This was a deliberate corporate strategy to adopt a bitcoin standard.”
Super bullish
That could make him the richest man in the world in 10 years
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