MicroStrategy Doubles down on Bitcoin

in LeoFinance2 months ago

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I have talked about this in the past as to how much I like Cathie Wood and MicroStrategy for their Pro Crypto approach. Even though it seems MicroStrategy made an impairment loss on its Bitcoin Holdings which by the way is huge like 105085 BTC huge. The reason we know the amount of BTC held by such companies now is because according to the law they are bound to disclose their profits or losses on Cryptocurrencies. So now we know that MicroStrategy made quite the loss but even after that they have come out and said that they are indeed doubling down on BTC and will be buying more in the next quarter.

As for how much more BTC they buy is up to them and we will have to wait for the next quarterly results to see if they made any profits or not but there is one thing that worries me just a little bit and I want to just talk about it. The amount of BTC MicroStrategy owns is huge and I believe that at one point in time they would also like to book some profits in Crypto and at that point, we might get to see some huge dips in the market cap of BTC. Now, this is just me speculating here but hey that is definitely a possibility as they are also in it for making some money.

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