According to Michael Saylor, MicroStrategy's ultimate goal is to become the world's leading bitcoin bank with an expected valuation of $1 trillion.
Paradigm has invested $20 million in Ithaca, a division of a venture capital firm building a second-tier #blockchain called Odyssey.
Arkham, a blockchain-based analytics platform, plans to launch a cryptocurrency derivatives exchange targeting retail investors in November to compete with giants such as Binance. Meanwhile, Mt Gox will change its debt maturity date to 2025.
the beginning of work.
Michael Saylor says that MicroStrategy's ultimate goal is to become the world's leading #bitcoin bank with an expected valuation of $1 trillion.
It's the most valuable asset in the world. The ultimate goal is to become the leading bitcoin bank, or merchant bank, or bitcoin finance company, he told analysts at research and brokerage firm Bernstein.
The company's strategy is based on the long-term belief that bitcoin is the best deflationary money. Bitcoin currently accounts for 0.1% of the world's financial capital, but Michael Seiler predicts that number will rise to 7% by 2045.
If the U. S. capital markets allow #MicroStrategy to raise funds through bonds, stocks and other means, MicroStrategy will be happy to scale up and arbitrage bitcoin.
i also cited Saylor's view that bitcoin's underlying yield is attractive enough to continue to make money from arbitrage in the capital markets, rather than lending bitcoin as in the traditional banking model.
We think it's better to borrow $10 billion from those who are willing to lend, give them a 100 basis points higher yield and lend them bitcoin at 30-50% APR with no counterparty risk, Saylor explains. Once you get past the volatility and learn how to manage it, I foresee a bearish scenario. Who will pay 22% annual interest?
We just keep buying.
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