Large-scale purchase of Bitcoin, questioned for its robustness
MicroStrategy, an American business intelligence company, has spent about $17.5 billion in the past two months to buy Bitcoin crazily, causing an uproar in the market. Data shows that the company has quickly raised funds through the issuance of zero-interest convertible bonds and new shares, and then converted all of them into Bitcoin, becoming one of the most active "Bitcoin whales" in the market.
However, this strategy has attracted warnings from many economists and analysts. Some people bluntly call it a "Ponzi scheme", emphasizing that as long as the price of Bitcoin stagnates or falls, the entire structure will face the risk of collapse.
MicroStrategy, led by its executive chairman Michael Saylor, has repeatedly increased its Bitcoin holdings, causing investors to have different views on the company's prospects.
One side believes that Saylor has a long-term vision and intends to regard Bitcoin as "digital gold" to create long-term value for the company and shareholders; the other side criticizes that this practice of constantly purchasing Bitcoin through leveraged financing is inherently full of high risks and is not a sound corporate financial strategy.
