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Source: coindesk.com ·
Michael Saylor has turned MicroStrategy's sleepy cash surplus into a nearly half-billion-dollar bet on bitcoin's long-term potential.
Willy Woo - @woonomic
4 months ago
Corporate reserves = "billions of excess capital" parked in cash for years.
MicroStrategy's move of allocating nearly $0.5b into BTC could certainly start a trend. Their stock rose has risen 30%. 🤔
https://t.co/JJU58Vk8yi https://t.co/m6T2hjMGlT
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Michael Novogratz - @novogratz
4 months ago
Everyone’s favorite new HODLer. Bold move. I love it. https://t.co/3e6UMgFNW5
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Adam Back - @adam3us
4 months ago
@BitNomadic @michael_saylor https://t.co/e5ZvzUgCj4
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Miko Matsumura ㋡ - @mikojava
4 months ago
Bitcoin CEO: MicroStrategy’s Michael Saylor Explains His $425M Bet on BTC https://t.co/4VDbKhYtGf via @coindesk
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Erik Voorhees - @ErikVoorhees
4 months ago
https://t.co/YPSu025ZDy https://t.co/UxEBLkoiG6
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Pierre Rochard - @pierre_rochard
4 months ago
RT @zackvoell: “This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.” - @michael_saylor https://t.co/aXAlcfDnzK $BTC
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Michael Goldstein - @bitstein
4 months ago
https://t.co/eWiz3b9KuU https://t.co/JqaZyB47FI
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Barry Silbert - @barrysilbert
4 months ago
RT @CoinDesk: EXCLUSIVE: MicroStrategy CEO @michael_saylor speaks about his firm's #bitcoin pivot.
"I want something that I could put $425 million into for 100 years," Saylor told CoinDesk.
@realDannyNelson reports
https://t.co/I3E57vcFUw
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mngigi
3 months ago
So they spent $30 million of the $4 billion ICO money to buy a web domain. Smart move lol.
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TommyofLeeds
4 months ago
"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.
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amhaas22
4 months ago
‘Wow this social media site is really innovative, nothing else like it today. I should buy bitcoin’
1
sylsau
4 months ago
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.
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ETHfan234
(But also EOSfan) 4 months ago
Coming from someone who isn’t on Voice or who has friends that will invite them onto the platform lol
Voice is the future of social media.
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ETHfan234
(But also EOSfan) 4 months ago
Nobody, meaning you?? Lol
Voice has a 70,000 person waitlist because you know, it’s in closed beta. And if you were on Voice, you would see that it is growing by the day and be ranked as the most used blockchain for social.
Source: https://twitter.com/moore_chaney/status/1297172015976251392?s=21
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Romu_HS
4 months ago
It’s the only blockchain for social what does it compare to main stream products?
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ETHfan234
(But also EOSfan) 4 months ago
Are you serious?? Lol
Ok, Facebook, Instagram, Twitter, etc. have a huge fake accounts/bots issue that cost them billions of dollars, users do not get paid for their content nor do they get compensated for sharing/curating, and anonymous trolls who hide behind a keyboard are forced to be accountable for their words and actions. Voice solves this.
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Romu_HS
4 months ago
The most lied post of all time on VOICE has 243 likes. IVe received 10x more than that from shit posting on a shitty World of Warcraft server check my postage.
Pathetic numbers
Money can’t buy adoption and even if it could scaling voice to the size of Facebook would cost 2 billion in account creation.
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Memec0in
4 months ago
>Voice has a 70,000 person waitlist because you know, it’s in closed beta.
Some random guy on twitter is your source?
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ETHfan234
(But also EOSfan) 4 months ago
That “random guy on Twitter” is a moderator of this subreddit, a reporter/writer for EOSWriter, and literally just had an interview with Dan Larimer, a person who doesn’t give interviews to anybody.
I trust him way more than your half-baked opinion, Memecoin Lol
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Memec0in
4 months ago
>I trust him way more than your half-baked opinion, Memecoin Lol
I sold my EOS stack in February (because of how shit Voice turned out to be, and I'm still on that list with two emails btw). Not a bad move in hindsight. Sometimes it pays to consider the opinions of people who aren't financially incentivized to lie. I don't believe the 70k figure for a second.
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etmetm
4 months ago
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.
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stickypi
4 months ago
Selling voice.com domain name for $30M to EOS creator but buying BTC only, that speaks volume about all the alt coins
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ETHfan234
(But also EOSfan) 4 months ago
Yes it does, because Bitcoin will be wrapped on the EOS mainnet to finally achieve Satoshi’s vision of crypto cash.
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ETHfan234
(But also EOSfan) 4 months ago
Voice will run on the mainnet in conjunction with several other eosio chains. Currently, voice isn’t because it’s in closed beta to correct bugs before it’s launched early next year.
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LinkifyBot
4 months ago
**I found links in your comment that were not hyperlinked:**
* [voice.com](https://voice.com)
*I did the honors for you.*
***
^[delete](https://www.reddit.com/message/compose?to=%2Fu%2FLinkifyBot&subject=delete%20g5h16ep&message=Click%20the%20send%20button%20to%20delete%20the%20false%20positive.) ^| ^[information](https://np.reddit.com/u/LinkifyBot/comments/gkkf7p) ^| ^<3
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btceacc
4 months ago
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.
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varikonniemi
4 months ago
You need more than 10 years of flawless operation and gain on investment to convince you?
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btceacc
4 months ago
Software is never flawless and Bitcoin hasn't been an exception. The life of Bitcoin has been far from trouble-free but it is true that it's a feat it has come so far.
Software development never ends though. If they ever decide to fix the obvious block-size problem or change the cipher to protect against quantum attacks, there will be major uncertainty and of course bugs. You can't say what will happen as a result of this and that is why I would always diversify.
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varikonniemi
4 months ago
similarly as the bank's computer systems might crash and backups be corrupted, and suddenly all your money is gone.
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btceacc
4 months ago
If you worked for a bank you'd know they have multiple redundancies and plan for various disasters. If they do lose your account details it would be as a result of a catastrophic event where money will be the least of your concerns.
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btceacc
4 months ago
My original comment referred to quantum attacks and transactional limitations. Banks don't have these issues.
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varikonniemi
4 months ago
neither does bitcoin. One on-chain tx can represent a million lightning transactions. And bitcoin is not vulnerable to quantum.
> We find that in the near-term the impact of quantum computers appear to be rather smallfor all three directions. The impact of quantum computers would require considerably larger number of qubits and breakthroughs in quantum algorithms to reverse existing hash functions.
Most of the internet needs to be rewritten before bitcoin needs to care. And even then the change of cryptographic primitive is quite trivial to do, without much danger as it only affects new transactions that opt-in. As is block size increase. Banks etc. have much harder times ahead to make themselves quantum proof once the technology might emerge after 50 years.
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btceacc
4 months ago
Point 1 has already been disproved during periods of high transactional activity. No one is obliged to use Lightning and this naturally causes fees to rise and confirmations to become sluggish. Shoe me a bank that thinks that's acceptable.
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varikonniemi
4 months ago
there are no sluggish confirmations, only underpaying cheap users.
The whole point with bitcoin is that tx fees pay for the hashing security once block rewards drop. So the fees should rise, it means it is working as intended.
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sexyama
4 months ago
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
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varikonniemi
4 months ago
if you listen to his desperate arguments you are bound to become bullish
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BlandTomato
redditor for 2 months 4 months ago
“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
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5liveR
4 months ago
I like the 'cube melting' metaphor
Gonna try to use it next time I get into a discussion with my normie nevercoiners friends
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AllinTeslaCalls
redditor for 4 weeks 4 months ago
That could make him the richest man in the world in 10 years
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user_name_checks_out
4 months ago
The company owns the bitcoin, and the shareholders own the company.
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cryptening
4 months ago
blackrock owns 15% and 10% is owned by vanguard
It's pretty much completely institutionally owned which makes this news even more bullish.
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jcliff_btc
4 months ago
presumably as founder and CEO he has a large amount of shares of the stock
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akajmj
4 months ago
He owns 70% of the company, directly and indirectly through his 100% ownership of Alcantara LLC.
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