Original article by Biraajmaan Tamuly
Many people have questioned why this Nasdaq-listed business intelligence software industry giant has been buying Bitcoin again and again in recent times. At first, everyone thought that MicroStrategy's purchase of Bitcoin might be to bring incremental profits to the company, but if you pay attention to the company's performance in the stock market, you will find out what a "good deal" MicroStrategy's purchase of Bitcoin is! MicroStrategy is investing more and more in Bitcoin
Next, let’s take a look at another analysis chart from Ecoinometrics, as shown below: This chart shows the growth trends of Bitcoin, MicroStrategy, and the Nasdaq stock market in 2020. You will find that since MicroStrategy purchased Bitcoin, its stock price trend has almost been consistent with the upward trend of Bitcoin, both showing a parabolic rise.
This situation seems abnormal, but it is reasonable, because according to MicroStrategy and its chief executive Michael Saylor, the entire market is still in the early "accumulation stage" of Bitcoin, and many other institutional investors have been paying attention to Bitcoin's strong value storage ability. For example, Tesla founder Elon Musk recently posted a Bitcoin cartoon on his personal Twitter, in which the protagonist suffers from the low productivity of the current world. At this time, someone suggested that Bitcoin could be tried. Michael Saylor responded: "If you want to bring $100 billion in benefits to shareholders, please replace the US dollars on Tesla's balance sheet with Bitcoin, and then other companies on the S&P 500 will follow your example. Over time, assets will reach $1 trillion." Elon Musk then questioned whether Bitcoin can support such a large transaction volume. SBF, founder of the cryptocurrency derivatives exchange FTX, responded: "Bitcoin supports such a large transaction, and FTX or other over-the-counter trading platforms are happy to assist in executing this transaction. Basically, this transaction will have a certain market impact, but we may process $25 billion in transactions every day, which means that $100 billion may take about a week to complete." At least judging from MicroStrategy's investment in Bitcoin, they have achieved a win-win situation in both the currency market and the stock market!
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