Michael Saylor's MicroStrategy Added Additional 51,780 Bitcoin for $4.6B
Posted: Nov 18, 2024
- Michael Saylor's MicroStrategy purchased an additional 51,780 Bitcoin for $4.6 billion
- The company now holds a total of 331,200 Bitcoin, worth nearly $30 billion
- MicroStrategy funded the purchase by selling 13.6 million shares for $4.6 billion
- The company has about $15.3 billion in stock it can still sell
- MicroStrategy's shares are down 1% premarket but are up nearly 400% year-to-date
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - The comments show a mix of skepticism and concern about MicroStrategy's financial strategies and the nature of their Bitcoin investments, with more leaning towards negative views. Summarized comments: - MicroStrategy and Michael Saylor have made substantial investments in Bitcoin, sparking debate. - Some comments suggest Saylor's strategy resembles a Ponzi scheme or tremendous gamble. - Concerns arise about MicroStrategy's financial strategy due to reliance on Bitcoin and high debt. - Debate on whether Saylor's actions will position him as a financial genius or lead to failure. - Skepticism about the sustainability of MicroStrategy's approach and skepticism about Bitcoin's future. - Some find the continued skepticism towards Bitcoin amusing. - Mixed opinions on whether betting against Bitcoin or MicroStrategy is viable. Stock tickers discussed: $MSTR
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