German capital is notorious on the financial markets as the stupid capital. Now comes a big surprise: insurance giant Allianz gets in on Bitcoin and purchased nearly 25% of MicroStrategy's 2031 convertible note offering... this is all the funnier since a few weeks ago the German state checked out its 50000 looted coins and dumped them cheap on the market.
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Sell btc low
Buy shares high
Great way to fuck up
thank god for taxes and responsible fiscal custodians!
a step in the right direction for Germany wasting their precious 50000 coins
Good to see large insurers recognising Bitcoin.
They already face massive growing risk exposure due to climate change and investing in Bitcoin may enable mitigating that risk somewhat.