Investment moguls have spoken: MicroStrategy is aggressively buying Bitcoin, and the market may undergo a transformation!
The investment tycoon Jason Calacanis recently stated that MicroStrategy, a company focused on business intelligence, is buying Bitcoin at an alarming rate, potentially changing the rules of the Bitcoin market.
According to a recent report by Barron's, MicroStrategy plans to issue more stock, and if they go through with it, the money they plan to use for buying Bitcoin could purchase all the Bitcoin currently in circulation worldwide, which sounds quite exaggerated!
However, MicroStrategy's head Michael Saylor doesn't care what others say and even joked on social media that he learned his ideas from Barron's. Saylor also mentioned that his goal is to accumulate $30 trillion worth of Bitcoin and stated that MicroStrategy could be valued at $10 trillion in the future!
Nonetheless, Calacanis disagrees. He believes that MicroStrategy's reckless buying of Bitcoin might make future buyers skeptical about its reliability. He even likened the situation to Saylor buying most of the Bitcoin, leading people to feel that their earnings are essentially just working for Saylor.
According to the latest data, MicroStrategy currently holds Bitcoin worth up to $43.4 billion, making it the largest corporate holder of Bitcoin by far.
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