fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, March 21, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Is MicroStrategy about to double down with a $500 million Bitcoin buy?

June 15, 2022
in Altcoin
Reading Time: 4 mins read
A A
Is MicroStrategy about to double down with a $500 million Bitcoin buy?
ShareShareShareShareShare
? Want to work with us? CryptoSlate is hiring for a handful of positions!

Bitcoin-bull Max Keiser tweeted that MicroStrategy has board clearance to make a $500 million BTC buy.

He added that the company’s CEO, Michael Saylor is currently “chilling on his yacht,” and will make a decision on whether to go ahead soon.

.@MicroStrategy has room on the balance sheet to buy another $500M in #Bitcoin

I’m hearing the board has given @saylor the green light to back up the truck and buy size

He’s chilling on his yacht at present but will make a decision soon. pic.twitter.com/5vlLRNAEw4

— Max Keiser: Bitcoin Pioneer ???? (@maxkeiser) June 15, 2022

Bitcoin is faring better than large caps

In April, Bitcoin Magazine Analyst Dylan DeClair spoke of a “global deleveraging event.” This refers to an attempt to reduce debt on a global scale. Entities that are overleveraged and unable to meet debt obligations are at risk of default.

A global deleveraging event is in progress, for those that are not yet aware.

— Dylan LeClair ? (@DylanLeClair_) April 26, 2022

Deleveraging against a landscape of high inflation and rising interest rates creates a perfect storm for financial market instability.

Since May 5, just before the Terra LUNA/UST implosion, total crypto market cap outflows have amounted to $937 billion. And year-to-date (YTD) outflows total $1.327 trillion. The net outcome of this has been tanking token prices.

Bitcoin is down 57% YTD against the dollar, with large caps faring worse. For example, Ethereum is down 72% YTD, and Cardano is down 65% YTD.

Given that the Fed (and central banks the world over) will likely carry on hiking interest rates, the market carnage will continue for the foreseeable future.

With that in mind, is buying Bitcoin, even at these relatively low prices, the right call to make?

President Bukele hints at doing the same

Data from the website saylortracker.com shows MicroStrategy’s Bitcoin reserves are at 129,218 BTC with an average buy price of $30,695. This puts the company at a $1.316 billion unrealized loss on its holdings at the current price.

Critics argue that MicroStrategy is failing in its fiduciary duties to protect the interests of its stockholders by going Bitcoin heavy. It’s further said that the acquisition of some BTC, through a $205 million loan, puts company collateral at risk of liquidation.

On Wednesday, Saylor addressed these concerns in a tweet that dismissed the liquidation risk. He said MicroStrategy expected volatility and “structured its balance sheet to HODL through adversity.”

When @MicroStrategy adopted a #Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity. https://t.co/rPSUVPHUVw

— Michael Saylor⚡️ (@saylor) June 14, 2022

Meanwhile, as market panic ensues, El Salvador’s President Bukele quipped with Bitcoin Magazine about buying more Bitcoin. But given his renowned sense of humor, it’s unclear whether he was joking or not.

You’re telling me we should buy more #BTC? https://t.co/jwvn0A1kTb

— Nayib Bukele (@nayibbukele) June 14, 2022

Get an Edge on the Crypto Market ?

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits


Credit: Source link

Related articles

ChatGPT doesn’t meet accuracy requirements for integration into security review process

ChatGPT doesn’t meet accuracy requirements for integration into security review process

March 21, 2023
Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana, XRP

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana, XRP

March 21, 2023
ShareTweetSendPinShare
Previous Post

Ripple CEO Brad Garlinghouse reveals how his company plans to thrive during the bear market.

Next Post

What is a blockchain? Introduction of crypto regulations around the world

Related Posts

ChatGPT doesn’t meet accuracy requirements for integration into security review process

ChatGPT doesn’t meet accuracy requirements for integration into security review process

March 21, 2023

Ad Coinbase said it would not integrate the popular artificial intelligence tool ChatGPT into its security review process because it...

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana, XRP

Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana, XRP

March 21, 2023

Cryptocurrencies continue to thrive, despite the wobbly macro-environment. However, institutions have not yet joined the celebrations. Last week, Watcher Guru...

Euler hacker offers to negotiate return of funds

Euler hacker offers to negotiate return of funds

March 20, 2023

Ad A hacker who recently exploited Euler Finance is attempting to arrange the return of stolen funds, as seen in...

DAI supply has fallen by 13% this week

DAI supply has fallen by 13% this week

March 20, 2023

Ad In the past week, MakerDAO has experienced a drop in total value locked (TVL), the supply of DAI, and...

Polygon and Immutable partner on Web3 gaming

Polygon and Immutable partner on Web3 gaming

March 20, 2023

Ad Ethereum ecosystem projects Polygon and Immutable have partnered on Web3 gaming, according to a press release published on March...

Load More
Next Post
What is a blockchain? Introduction of crypto regulations around the world

What is a blockchain? Introduction of crypto regulations around the world

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Federal Regulators Testify on Bank Failures

Federal Regulators Testify on Bank Failures

March 19, 2023
Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

March 19, 2023
Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations – Bitcoin News

Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations – Bitcoin News

March 20, 2023
DeFi protocol pushing Bitcoin (BTC) boundaries in smart contract goes parabolic as the market rebounds

DeFi protocol pushing Bitcoin (BTC) boundaries in smart contract goes parabolic as the market rebounds

March 18, 2023
ChatGPT says real-time data from web3, dePIN sources would optimize its potential

ChatGPT says real-time data from web3, dePIN sources would optimize its potential

March 18, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Synthetix Secures $20M Investment from DWF Labs
  • ChatGPT doesn’t meet accuracy requirements for integration into security review process
  • Ripple Bolsters Its Case With New Filing, Ruling By April?
  • Institutions Dump $126 Million Bitcoin & Ethereum But Buy Solana, XRP
  • Crypto With Katten London Symposium: Key Takeaways – Lexology
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,203.00-0.30%
  • ethereumEthereum(ETH)$1,766.18-1.35%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.19%
  • binancecoinBNB(BNB)$336.84-0.87%
  • usd-coinUSD Coin(USDC)$1.000.05%
  • rippleXRP(XRP)$0.3929002.18%
  • cardanoCardano(ADA)$0.341839-0.99%
  • staked-etherLido Staked Ether(STETH)$1,767.49-1.04%
  • matic-networkPolygon(MATIC)$1.13-2.27%
  • dogecoinDogecoin(DOGE)$0.072746-1.94%
  • solanaSolana(SOL)$22.44-3.64%
  • binance-usdBinance USD(BUSD)$1.010.17%
  • polkadotPolkadot(DOT)$6.18-4.58%
  • shiba-inuShiba Inu(SHIB)$0.000011-1.45%
  • tronTRON(TRX)$0.066540-0.76%
  • litecoinLitecoin(LTC)$80.82-1.94%
  • avalanche-2Avalanche(AVAX)$17.01-3.14%
  • daiDai(DAI)$1.000.11%
  • uniswapUniswap(UNI)$6.25-3.69%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,163.00-0.53%
  • ToncoinToncoin(TON)$2.401.13%
  • chainlinkChainlink(LINK)$7.11-4.03%
  • cosmosCosmos Hub(ATOM)$11.68-3.50%
  • leo-tokenLEO Token(LEO)$3.400.47%
  • moneroMonero(XMR)$155.310.34%
  • ethereum-classicEthereum Classic(ETC)$20.04-3.40%
  • okbOKB(OKB)$45.52-3.63%
  • bitcoin-cashBitcoin Cash(BCH)$129.30-5.05%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • filecoinFilecoin(FIL)$5.85-4.74%
  • stellarStellar(XLM)$0.087337-1.79%
  • AptosAptos(APT)$12.14-5.36%
  • true-usdTrueUSD(TUSD)$1.01-0.04%
  • lido-daoLido DAO(LDO)$2.32-4.46%
  • hedera-hashgraphHedera(HBAR)$0.062031-3.18%
  • quant-networkQuant(QNT)$127.26-4.96%
  • crypto-com-chainCronos(CRO)$0.070413-7.19%
  • nearNEAR Protocol(NEAR)$2.00-4.36%
  • vechainVeChain(VET)$0.022993-5.71%
  • blockstackStacks(STX)$1.20-5.83%
  • internet-computerInternet Computer(ICP)$5.17-3.45%
  • algorandAlgorand(ALGO)$0.212058-2.91%
  • apecoinApeCoin(APE)$4.09-3.15%
  • the-graphThe Graph(GRT)$0.149553-3.39%
  • fantomFantom(FTM)$0.474265-4.11%
  • eosEOS(EOS)$1.16-4.26%
  • the-sandboxThe Sandbox(SAND)$0.65-5.23%
  • immutable-xImmutableX(IMX)$1.28-11.94%
  • decentralandDecentraland(MANA)$0.60-4.77%