0 sats \ 2 replies \ @moel 30 Nov 2021 \ on: MicroStrategy Acquires Additional 7,002 BTC for $414M bitcoin
Short term this is positive: yet another buyer who is not selling.
Longer term this is negative: a whole lot of BTC in the hands of one man is never good...
Important to note that MicroStrategy is owned by an increasingly large number of funds and institutions.
Many of whom are buying MicroStrategy's new debt/equity offerings as a means of acquiring Bitcoin exposure themselves.
Every time MicroStrategy issues shares or convertible notes, Michael Saylor's stake in the company is actually being diluted by the incoming funds buying shares.
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Interesting take 👍
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