$118,387.00
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0.07%$0.103325
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-0.00%Reading
Michael Saylor, CEO of MicroStrategy, bought $425 million Bitcoin in September and August amid this summer’s bull run. The purchase meant that the billion-dollar tech firm, which counts, BlackRock, Vanguard, and one of the world’s largest pension funds as investors, now had most of its reserve assets in BitcoinBitcoin.
When US software company MicroStrategy bought $425 million worth of Bitcoin, the team didn’t keep it all for itself. Its investment means that its shareholders, among them BlackRock, Vanguard and the Norwegian Government Pension Fund, are significantly exposed to Bitcoin. Using rough, back-of-the-napkin math, crypto research firm Arcane Research looked up the percentage of MicroStrategy shares held by each of the companies to work out their exposure to Bitcoin. BlackRock Fund Advisors, one of...
Today, Saylor released a “curated set of resources” put together by the company, designed for “any company or investor considering Bitcoin as a treasury reserve asset.”
For any company or investor considering #Bitcoin as a treasury reserve asset, @MicroStrategy has published a curated set of resources including some of the reference materials we relied upon to make our decision. https://t.co/u3aFjNaAI3
— Michael Saylor (@michael_saylor) October 9, 2020
The resources include “some of the reference materials we relied upon to make our decision,” he said in a tweet today.
Most of the resources are interviews with Saylor himself or articles about MicroStrategy’s decision to buy Bitcoin. Featured is Saylor’s appearance on The Pomp Podcast, hosted by Bitcoin influencer Anthony Pompliano, as well as various articles written about him.
Saylor’s main advice to investors, then, appears to be to watch him in action and, presumably, do the same.
Other resources include “The Internet of Money,” a collection of talks by Bitcoin advocate Andreas Antonoplous, as well as a link to one such talk.
Then there’s the whitepaper for Bitcoin, as well as a reading list curated by the Satoshi Nakamoto Institute, which recommends articles that go back to the 1970s.
Businesses investing in Bitcoin would be wise to pick up a copy of the 1978 academic paper, “A Method for Obtaining Digital Signatures and Public-Key Cryptosystems,” MicroStrategy’s resource appears to suggest.
That, and Lyn Alden’s “3 reasons I’m Investing in Bitcoin” or Vijay Boyapati’s “The Bullish Case for Bitcoin.”
Those resources stimulated Saylor and MicroStrategy’s massive purchase of Bitcoin. To see if they’re any good, it’ll be worth keeping an eye on MicroStrategy’s performance.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
MEI Pharma, a publicly traded pharmaceutical company, closed a $100 million private placement on Wednesday to refashion itself into a litecoin treasury firm. MEI sold 29,239,767 shares of its common stock, raising roughly $100 million, Litecoin Foundation founder Charlie Lee told Decrypt. Under the agreement, the company sold its stock at $3.42 per share. Lee led the private placement alongside digital asset market maker GSR and will be joining MEI’s board of directors, according a statement fro...
A century-old Japanese textile company has become the latest financially battered firm to turn to Bitcoin as a treasury asset, announcing plans to purchase up to $5.4 million (800 million yen) in crypto to stabilize its bottom line after years of losses and muted cash flow. Kitabo Co., Ltd., a Tokyo Stock Exchange-listed textile manufacturer that produces synthetic fibers and industrial materials, announced in a statement on Tuesday that it will begin gradually acquiring Bitcoin using dollar-cos...
Tesla’s long-awaited retro-style diner finally opened over the weekend in Los Angeles, and yes, there’s rollerskating waitstaff, rooftop seating, and a humanoid robot handing out popcorn. No, you can’t pay in Dogecoin, yet. Located near the iconic Paramount Studios, the two-story fever dream sits atop a Supercharger hub with 80 EV-only parking spaces. Part midcentury nostalgia trip, part Muskovite experiment, the diner has seating for 250 people and features two, drive-in-movie-sized LED screens...
