iBankCoin
CAPS LOCK IS CRUISE CONTROL FOR AWESOME
Joined May 7, 2012
176 Blog Posts

MicroStrategy Stocks Up On BTC

The CEO of MicroStrategy shared this info on Twitter today:

This amounts to an acquisition cost of ~$11,111 per BTC.

The strategy of putting cash reserves into one of the most volatile assets in existence is questionable for a public company. It’s even more questionable when all that money is thrown into a coin that is limited in blocksize to 1MB, dependent on non existent 3rd party solutions for scaling and recently had transaction fees exceeding $1,000.

But don’t take my word for it. Here is an excellent video series that any serious investor, including MSTR, should watch before throwing money into Crypto.

Last night Mad Money’s Jim Cramer was redpilled by Anthony Pompliano (Pomp doesn’t understand Bitcoin but he can talk in reasonable soundbites from a financial background). I viewed this as a bullish event as I expected post redpilling Cramer would be using his daily pulpit on Mad Money to urge viewers to move 1-2% of their portfolio into crypto. Say what you want about Cramer, he’s a hell of a salesman and has a large viewership. Unfortunately, less than 24 hours after his Bitcoin epiphany, Cramer called the Speaker of the House “Crazy Nancy” then went full Boomer mode defending himself on Twitter. Welp, I expect he’ll be in the penalty box a while. Let’s see if he feels like sticking his neck out on Crypto when CNBC deems it safe to put him in front of a camera again.

Looking at market technicals, I am skeptical on a BTC rally. BTC must break $11,400 to avoid putting in a lower high. If that happens then I’ll sit up and take notice. Sentiment seems to be all over the map.

While BSV fundamentals destroy BTC head to head the price action has been disappointing. BSV has a big conference starting end of September. This will be the opportunity for BSV to disclose some of the secret projects that have been held close to the vest. Or, a nothing burger. Flip a coin.

The wild card, as always, is our completely ridiculous stock market bubble and fiat printing. Anything is possible.

 

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3 comments

  1. ha

    MicroStrategy can earn at least 5% on that BTC, and wait.
    Only .1% of the people on earth own crypto. If more people enter the crypto space; it would be a good investment.

    Paul Tudor Jones calls bitcoin a ‘great speculation,’ says he has almost 2% of his assets in it

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    • ha

      If more enter the space; all decent crypto boats will rise.

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    • ha

      Pomp is correct when he says, zero is the wrong number (amount of crypto to own)
      Is there a better performing asset class over the past 10 years?
      There is a case for a speculation of something .01%, .1%, 1% …

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