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    Re: Corporate tokens. nm Archived Message

    Posted by Rich on August 14, 2020, 1:52 pm, in reply to "Re: Corporate tokens. nm"

    "From my reading of the above Microstrategy are buying Bitcoin as a commodity to park their wealth at a higher return rather than for actual use currency."

    Yes, CEO Saylor does say they're investing in a "store of value" and it's likely they see BTC continuing to rise in value/price even though he's bought in at a 5 month high. I've sort of lost touch with BTC over the last few years but the last time I looked it didn't seem to be functioning too well as a currency. Too slow/expensive IIRC - so I probably agree with you there.

    But the article goes on: "Saylor detailed that his company spent months determining its capital allocation strategy, considering macro factors such as “the economic and public health crisis precipitated by covid-19, unprecedented government financial stimulus measures including quantitative easing adopted around the world, and global political and economic uncertainty.” The company believes these factors and others “may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types.”

    That is the part that interested me the most. It's quite obvious that Saylor sees the whole house of cards collapsing quite soon and BTC as a safe haven (!) and has put his money where his mouth is.

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