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Author Topic: MicroStrategy company adopts Bitcoin as primary treasury reserve asset.  (Read 250 times)
coupable
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August 11, 2020, 08:33:40 PM
 #1

As a hedge against US dollar inflation, the worldwide leader in enterprise analytics and mobility software MicroStrategy company decided to sweep $250 million from its cash reserves into Bitcoin. The company announced today that it has purchased a total of 21,454 bitcoins.

MicroStrategy CEO confirmed that his company has made bitcoin the principal holding in its treasury reserve strategy.

The news was released today in top magazines:
https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-Asset
https://fortune.com/2020/08/11/buying-bitcoin-microstrategy-cryptocurrenc/
https://www.coindesk.com/microstrategy-bitcoin-buy-protects-against-fiat-inflation
https://seekingalpha.com/news/3604016-microstrategy-moves-cash-bitcoin-shares-up-9

Do you think this would help spread the world adoption of bitcoin? What impacts are expected more than just infecting the btc price in the market? Has it a direct impact on US dollar and other major currencies? Share your thouths please.

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August 11, 2020, 10:50:16 PM
 #2

As a hedge against US dollar inflation, the worldwide leader in enterprise analytics and mobility software MicroStrategy company decided to sweep $250 million from its cash reserves into Bitcoin. The company announced today that it has purchased a total of 21,454 bitcoins.

MicroStrategy CEO confirmed that his company has made bitcoin the principal holding in its treasury reserve strategy.
Wow, that is a significant 'bet' by a large corporation that bitcoin will hold its value (or grow ideally). Imagine if other companies followed this same strategy.  Cool
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August 11, 2020, 11:04:42 PM
 #3

Do you think this would help spread the world adoption of bitcoin? What impacts are expected more than just infecting the btc price in the market? Has it a direct impact on US dollar and other major currencies? Share your thouths please.

I think adoption should come from retail investors or average joe using bitcoin as a form of money. Not large institution like Grayscale buying bitcoin or MicroStrategy using it as hedge or reserve assets. I'm not sure if this is the first time we have heard a company making bitcoin as reserve assets, but I would say that this is welcoming and pushing the boundaries of bitcoin as a store of value.

But global adoption? I would say no. Besides adoption has slowly been taking place already, even in this current pandemic situation.

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August 11, 2020, 11:24:51 PM
 #4

I'm not sure if this is the first time we have heard a company making bitcoin as reserve assets, but I would say that this is welcoming and pushing the boundaries of bitcoin as a store of value.
Of course it isn't the first time, but i think this one is the biggest with company running out of the crypto market. We should also consider that MicroStrategy is one of the biggest companies in the world today having millions of shares traded actions in NASDAQ stock market.

But global adoption? I would say no. Besides adoption has slowly been taking place already, even in this current pandemic situation.
What i meant by Global adoption is that more companies follow the same strategy, especially with the accumulated issues with us dollar and other currencies used for reserves. This should also include countries living in continuous liquidity crisis.

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August 11, 2020, 11:28:11 PM
 #5

Do you think this would help spread the world adoption of bitcoin? What impacts are expected more than just infecting the btc price in the market? Has it a direct impact on US dollar and other major currencies? Share your thouths please.

I think adoption should come from retail investors or average joe using bitcoin as a form of money. Not large institution like Grayscale buying bitcoin or MicroStrategy using it as hedge or reserve assets. I'm not sure if this is the first time we have heard a company making bitcoin as reserve assets, but I would say that this is welcoming and pushing the boundaries of bitcoin as a store of value.

But global adoption? I would say no. Besides adoption has slowly been taking place already, even in this current pandemic situation.

I believe there are other companies that already bought a large of their bitcoin stash and most of them are not saying publicly. But it seems that there is no significant impact in btc price with MicroStrategy buying a large amount of bitcoin as the market is still going down. However, this update is very welcome to the crypto community because it means, there are big companies trusting bitcoin as part of their assets. And that is a good promotion that may give inspiration to other companies to do the same. Adoption at all levels from users to small merchants to known companies are continuously happening even during this pandemic.

https://cointelegraph.com/news/interest-in-bitcoin-spikes-worldwide-during-covid-19-crisis
https://www.coininsider.com/bitcoin-adoption-accelerated-by-pandemic-says-winklevoss/

The interest in crypto spiked during this pandemic period because of several things such as looking for other payment options to use other than fiat money (being identified as one possible source of virus because of transfer from one hands to another), another option for digital payment, source of online income or looking for potential investment in the market.

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August 11, 2020, 11:40:03 PM
 #6

Do you think this would help spread the world adoption of bitcoin? What impacts are expected more than just infecting the btc price in the market? Has it a direct impact on US dollar and other major currencies? Share your thouths please.

I think adoption should come from retail investors or average joe using bitcoin as a form of money. Not large institution like Grayscale buying bitcoin or MicroStrategy using it as hedge or reserve assets. I'm not sure if this is the first time we have heard a company making bitcoin as reserve assets, but I would say that this is welcoming and pushing the boundaries of bitcoin as a store of value.

But global adoption? I would say no. Besides adoption has slowly been taking place already, even in this current pandemic situation.
Acouple of company have make bitcoin their reserve asset but the company in subject news will somehow have an impact on the global adoption of bitcoin sooner or later not through retail investors alone. However, i checked the site web and i couldnt see anything about what the OP said.

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August 12, 2020, 01:47:49 AM
 #7

https://fortune.com/2020/08/11/buying-bitcoin-microstrategy-cryptocurrenc/

Quote
Many crypto boosters believe the price increase is tied to the flood of money printed by central bankers in recent months as countries try to stave off the economic crisis triggered by the pandemic. Unlike national currencies, Bitcoin has a finite supply of 21 million, which makes it a hedge against inflation akin to gold in the view of Silbert and others.
good press that Bitcoin has an actual cap vice fiat currency  Roll Eyes
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August 12, 2020, 02:20:27 AM
Last edit: August 12, 2020, 02:41:31 AM by mk4
 #8

Funnily enough, bitcoin's price actually dropped a bit after significantly bullish news such as this lol. Might just be mere coincidence, but whatever.

Ballsy move from MicroStrategy though. They bought $250 million worth of bitcoin, with their current marketcap of 1.31B. That's a significant percentage of their marketcap.

Some quick stats:

  • bitcoin is now approx 5.24% of MicroStrategy's total marketcap
  • MicroStrategy now owns approx 0.1% of bitcoin's total supply

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August 12, 2020, 05:50:09 AM
 #9

Having more than 5% of a company's marketcap in bitcoin reserve - is a super bold decision for a listed company. It seems that the decision is received well by the shareholders as well because their share price is up by 9.12% already!  

I don't think we have seen similar steps taken by any other company ever to hold a major percentage of the cash reserve in bitcoin. I hope Microstrategy will be able to break a lot of misconceptions around crypto and also boost the credibility of bitcoin!

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August 12, 2020, 06:06:14 AM
 #10

Funnily enough, bitcoin's price actually dropped a bit after significantly bullish news such as this lol. Might just be mere coincidence, but whatever.

Ballsy move from MicroStrategy though. They bought $250 million worth of bitcoin, with their current marketcap of 1.31B. That's a significant percentage of their marketcap.

Some quick stats:

  • bitcoin is now approx 5.24% of MicroStrategy's total marketcap
  • MicroStrategy now owns approx 0.1% of bitcoin's total supply

They bought approx: 22,201.30 BTC as of today ($11,260.60), a very small portion compared to the total bitcoin supply, but it still helps a lot I think. If most of the company will trust BTC to secure their asset, combining these companies could drive the price of BTC way higher (IF THEY WILL).

I just how small my contribution to BTC with this news, I am quite convince to spend and invest more with BTC.

Anyways, it's still too shallow to say that the price increase is because of MicroStrategy's action.


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tbterryboy
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August 12, 2020, 05:33:50 PM
 #11

It’s a good news. With this I believe that many people will be convinced that cryptocurrency can be used as a store of value. This is something that has been argued by a lot of people in this forum, on whether cryptocurrency, especially Bitcoin, can be used as a store of value and now this company is taking that move to show that it can be done. I know the reason why a lot of people are afraid to be making use of cryptocurrency as a store of value is because of its volatile nature, they don’t want to store their money there and then lose it, sure that do happen, but these people still misunderstood everything.

If you want to use any asset as a store of value, that means you’re ready to hold it for a long time. Imagine that you were holding Bitcoin around 2010 till now, imagine how much you would have made by now, even after the price has moved to ATH price and dropped back, you will still have profit. So, if you’re planning to have Bitcoin as a store of value you should be ready to go long term with it, and hold it for years. If your plan to make money quick, then you’re probably not looking for a store of value.


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DoubleEdgeEX
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August 13, 2020, 06:41:40 AM
 #12

Question is, will Bitcoin become a monopoly and just another asset for the big banksters to play around with? Grayscale CEO posting he doesn´t know if he will left some BTC for us, (joke or not), and MicroStrategys move now. btw, just so you know who is behind that move:

Main shareholder of Microstrategy:

  • Blackrock  15%
  • Vanguard 11%
  • First Trust Advisors LP 10%
  • Victory Capital Managemet 6%

Here the full list: https://money.cnn.com/quote/shareholders/shareholders.html?symb=MSTR&subView=institutional
thirdprize
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August 13, 2020, 01:25:38 PM
 #13

That is 21K bitcoin out of circulation.

bonjouros
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August 13, 2020, 05:48:36 PM
 #14

Their action will surely help the bitcoin or the crypto currencies to become known more but with regards to world adoption, it is still not enough. But if a huge company
will likely to accept bitcoin or a government/s then it can surely spread the world adoption of bitcoin.

Though I am not yet sure whether MicroStrategy company is a very influencial company or not because if they are known worlwide and they have the influence around the globe
then their action will surely help the bitcoin to spread and the adoption will likely to follow.
shata
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August 13, 2020, 10:25:41 PM
 #15

Question is, will Bitcoin become a monopoly and just another asset for the big banksters to play around with? Grayscale CEO posting he doesn´t know if he will left some BTC for us, (joke or not), and MicroStrategys move now. btw, just so you know who is behind that move:

Main shareholder of Microstrategy:

  • Blackrock  15%
  • Vanguard 11%
  • First Trust Advisors LP 10%
  • Victory Capital Managemet 6%

Here the full list: https://money.cnn.com/quote/shareholders/shareholders.html?symb=MSTR&subView=institutional

Perhaps, this could be possible, playing monopoly in the market of cryptocurrency sounds like institutions are trying to barrred crypto opportunities to those few  Grin. But anyways....

With todays economic condition, fiat depreciated its value and thus, company's are hedging on BTC price to avoid risk on sudden inflation.
Many corporate crypto players are heavily investing their total portfolio in bitcoin because they believed in the future value of it.

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Wexnident
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August 14, 2020, 02:16:28 AM
 #16

Big and ballsy move. Props to them trusting Bitcoin with that much money. Trusting Bitcoin with their assets could surely open up the eyes of other companies out there that Bitcoin can perform its role as a safe asset. Though I highly doubt adoption would increase due to this, at least, more people would know of Bitcoin and would probably consider using it to save themselves from possible effects of inflation. Market changes probably a small dip but that should be it.
~
I doubt it would become one. If it ever becomes their playground, I doubt Bitcoin would even prove to be that valuable anymore, since you can consider Bitcoin as a currency backed by its community. Even if they did play around with it, it wouldn't last that long since they wouldn't really gain any profit by then.

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August 14, 2020, 02:28:21 AM
 #17

They bought approx: 22,201.30 BTC as of today ($11,260.60), a very small portion compared to the total bitcoin supply, but it still helps a lot I think. If most of the company will trust BTC to secure their asset, combining these companies could drive the price of BTC way higher (IF THEY WILL).

I just how small my contribution to BTC with this news, I am quite convince to spend and invest more with BTC.

Anyways, it's still too shallow to say that the price increase is because of MicroStrategy's action.



0.1% is definitely not a very small portion of the total bitcoin supply, well, assuming that bitcoin actually becomes a well-adopted asset in the future. Imagine being able to say that you have 0.1% of the total ownership of something as big as bitcoin.

I've heard somewhere that MicroStrategy's products/services are crap though. So this bitcoin move could be their best decision l0l.

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August 14, 2020, 06:44:58 AM
 #18

It surprises me that an "enterprise analytics and mobility software" company has cash reserves.Such tech companies are growing during the pandemic and I assume that they will invest more of their capital reserves into physical assets,like buying more equipment or hiring more employees.
This is a pretty good move,since Bitcoin successfully preserved it's value,during the last 2 months,while the US dollar went down.Maybe soon Bitcoin will be ETF approved and all the Wall Street funds and banks will start restructuring their portfolios by adding more BTC.


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August 14, 2020, 10:10:05 AM
 #19

Having more than 5% of a company's marketcap in bitcoin reserve - is a super bold decision for a listed company. It seems that the decision is received well by the shareholders as well because their share price is up by 9.12% already!  
Yes, I would agree that such company would put 5% of their reserves to a crypto which is known for its volatility, risk and bold move.

I don't think we have seen similar steps taken by any other company ever to hold a major percentage of the cash reserve in bitcoin. I hope Microstrategy will be able to break a lot of misconceptions around crypto and also boost the credibility of bitcoin!
Bitcoin as already its credibility for institutional investors, its just that in this time, we are seeing them coming out of the closet, so to speak. I have speculate that after the 2017 crash, they slowly building and accumulating and now we know some of them cause they are identifying themselves in crypto media.

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August 14, 2020, 02:55:41 PM
 #20

Over the years hedge funds have bought a lot of bitcoins. Current fundamental analysis as well as technical analysis shows that Bitcoin has surpassed the strong resistance level of $ 10,000. According to the technical analysis, the value of bitcoin will soon increase rapidly in the future. And it is normal for them to buy in. Bitcoin will soon be highly valued and valued as gold.





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Finance




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