Microstrategy is going to be worth more than Apple soon by being nothing more than a bitcoin holding company.
Someone didn't do very good math. And someone else copied and pasted a tweet that he, of course, didn't actually think through to see if it made sense.
Wait, you’re telling me @Commodore just copies and pastes **** with a complete disregard and inability to appraise said info?
I read some tweet that if btc went down to mid 20k, microstrategy would go bankrupt. Didn't do the math or share but sounded realistic. Twitter's got all kinds of these as-a-matter-of-factoids you eventually grow lazy at checking.
They've basically just borrow tons of money and buy Bitcoin with it. If they could keep paying interest on the debt, I imagine they could be fine in practice, but they could be upside down with fewer assets than liabilities (depending on what average price their BTC is at) and no real income source. So they could run into debt covenants and such that could make them bankrupt. A lot of it, I would think, just depends on the legalese behind the debt and protections investors got.
"Tax harvesting" and "big potential next year" seems to be unsubtle code words by influencers for more December dips
Bitcoin will replace the dollar, Jack Dorsey tells Cardi B https://www.businessinsider.com/jac...-replace-dollar-web3-vc-influence-2021-12?amp
