Top Angel Investor Raises Concerns Over MicroStrategy’s Aggressive Bitcoin Accumulation
Renowned angel investor Jason Calacanis, often hailed as one of the greatest in the field, has expressed concern about MicroStrategy’s relentless Bitcoin acquisitions. He warns that the company’s massive buying strategy could potentially disrupt the Bitcoin ecosystem.
A report from Barron’s earlier highlighted that MicroStrategy shareholders were expected to vote on a proposal to increase the firm’s authorized common stock to over 10 billion shares. The publication speculated that this could theoretically enable the company to acquire the entirety of Bitcoin at its current market price. While this idea may seem far-fetched, MicroStrategy co-founder Michael Saylor’s ambitions remain undeterred. Responding to the report, Saylor humorously claimed to draw inspiration for his ideas from Barron’s in a recent post on social platform X.
Saylor has made bold statements about his aspirations to own up to $3 trillion worth of Bitcoin, while also envisioning MicroStrategy’s market cap soaring to $10 trillion. Despite his optimism, Calacanis remains skeptical, asserting that such concentrated ownership could deter future investors from entering the Bitcoin market. He believes that if one entity, like MicroStrategy, holds too much control, potential investors might perceive it as serving the interests of a single player, ultimately driving them toward alternative assets.
Currently, MicroStrategy holds a staggering $43.4 billion worth of Bitcoin, cementing its position as the largest corporate Bitcoin owner. This aggressive accumulation strategy, while ambitious, raises questions about the broader implications for the cryptocurrency's future appeal and decentralization.
Disclaimer: This content reflects third-party opinions and does not constitute financial advice. Always conduct independent research before making investment decisions.