At any point in time, Bitcoin holders wish that the Bitcoin price push higher. They are also wondering if it will tumble back once again. This uptrend and downtrend that is unpredictable makes BTC all the more challenging. The volatility is where the money really is.
Those who are good in investing know that it is important for them to be patient where they need to be. Patient people make big money from their investments. There are some investors who invest are patient and they also move the market. They live their conviction. They go to great extent to keep going forward in their conviction.
CNBC reported that Microstrategy filed for a stock offering in order to acquire more of the cryptocurrency. There is a lot of debate among traders about how that move could affect shares going forward.
Stock Offering Proceeds in Part would be Used to Purchase Bitcoin. There is no clear information about how much of the proceeds will be used to make any particular purchase. The management has the discretion about the percentage of proceeds that will be allotted to buy Bitcoin.
It is a Bond Sale from Microstrategy. Equity Offering. Obvious Michael is full all in on this. He is in this for the next 10 to 15 years without any question. And, he also speaks about this.
Michael is now converting what he thinks as a failed balance sheet in to Bitcoin – what they consider now an asset to – over 100,000 bitcoin on their balance sheet. Anyone who believes in Cryptocurrency would trust Microstrategy!
Big noses in the cryptocurrency trading communities are already wondering. People who believe in Michael Saylor have to state, that in a decade from now they will be called Lucky. Now many are calling Michael Saylor HODLER, Reckless, and lot more. He also appears Hyper-bitcoinized. It just looks like Saylor is clear about his conviction and he knows where he is heading to. There is going to be nothing lucky about it. Saylor is making the most rational move in the most irrational marketplace.
It just looks like Michael will take the giant share of the trillion dollar market. MSTR are now focused on getting money with no interest in turn to buying something that will most likely only increase in value. He is smart and he is thinking 20 years ahead of everyone.
Michael has been right so far. He knows that BTC is an asset that is yet to be fully priced. Some of them call Bitcoin as a software. Now, Microstrategy is a Bitcoin owning Software Company.
Michael Saylor is completely behaving corporate. He has been pursuing, issuing equity at prices which is higher than the implied value of his Bitcoin holdings + software value. This is by far the smartest approach. He is therefore, taking advantage of retail investors who do not have a concept of fair “value.”
Get the latest Crypto & Blockchain News in your inbox.