05-29-2022, 01:31 AM
MicroStrategy, a public American software company, spent $3.97 billion to purchase 1
<!-- SC_OFF --><div class="md"><p>The biggest financial news nowadays is the overall macroeconomic downturn. In other words, people are curious about how the impending recession will affect their wallet. But, for me, one of the most interesting and overlooked stories is MicroStrategy.</p> <p>Their massive bet on Bitcoin is ballsy, but the better you understand Bitcoin, the less ballsy it actually is. In simple terms, Bitcoin is the largest, most secure, permissionless digital currency network in the world. So secure, that it's network has never been taken down. The Bitcoin network has been functional for 99.98% of the time since its inception on January 3, 2009. Remarkable, really.</p> <p>Anyways, for Michael Saylor, the CEO of MicroStrategy to witness losing hundreds of millions of dollars without taking any action is not without reason. He understands Bitcoin is impenetrable. Unless Saylor gives away the seed phrase to his wallets, he has nothing to fear. Fast-forward a few years from now and his investment will undoubtably be in the green.</p> <p>But, still, it's sort of epic to see someone lose <em>millions and millions and millions</em> of dollars without giving a single fuck. He has repeatably said that he will hold those Bitcoin for a very, very long time.</p> <p>His near $4 billion dollar bet will eventually be a great economic lesson in how betting on an invincible network, that has immense utility, will be literally free money in the long-term. This lesson of ignoring short-term losses as long as you understand the value of a technology is a great lesson to remind yourself when investing in Bitcoin. This notion, however, does not apply to altcoins as plainly as it applies to Bitcoin.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DirtyDiamonds"> /u/DirtyDiamonds </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uzhgsk/microstrategy_a_public_american_software_company/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uzhgsk/microstrategy_a_public_american_software_company/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>The biggest financial news nowadays is the overall macroeconomic downturn. In other words, people are curious about how the impending recession will affect their wallet. But, for me, one of the most interesting and overlooked stories is MicroStrategy.</p> <p>Their massive bet on Bitcoin is ballsy, but the better you understand Bitcoin, the less ballsy it actually is. In simple terms, Bitcoin is the largest, most secure, permissionless digital currency network in the world. So secure, that it's network has never been taken down. The Bitcoin network has been functional for 99.98% of the time since its inception on January 3, 2009. Remarkable, really.</p> <p>Anyways, for Michael Saylor, the CEO of MicroStrategy to witness losing hundreds of millions of dollars without taking any action is not without reason. He understands Bitcoin is impenetrable. Unless Saylor gives away the seed phrase to his wallets, he has nothing to fear. Fast-forward a few years from now and his investment will undoubtably be in the green.</p> <p>But, still, it's sort of epic to see someone lose <em>millions and millions and millions</em> of dollars without giving a single fuck. He has repeatably said that he will hold those Bitcoin for a very, very long time.</p> <p>His near $4 billion dollar bet will eventually be a great economic lesson in how betting on an invincible network, that has immense utility, will be literally free money in the long-term. This lesson of ignoring short-term losses as long as you understand the value of a technology is a great lesson to remind yourself when investing in Bitcoin. This notion, however, does not apply to altcoins as plainly as it applies to Bitcoin.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DirtyDiamonds"> /u/DirtyDiamonds </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uzhgsk/microstrategy_a_public_american_software_company/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uzhgsk/microstrategy_a_public_american_software_company/">[comments]</a></span>