25 Burst results for "Micro Strategy"

"micro strategy" Discussed on CoinDesk Podcast Network

CoinDesk Podcast Network

05:00 min | Last week

"micro strategy" Discussed on CoinDesk Podcast Network

"Strategy is buying more Bitcoin in the file a little bit. 300 Bitcoin at a price level about $19,000 per coin, a little bit of a far cry from the big purchase we've seen in the past. There are total stash now around a 130,000 Bitcoin putting them up there for one of the largest Bitcoin holding entities. This is sort of a lukewarm story going to a bear market right. It's nice to see continued conviction from Michael saylor and micro strategy at the same time. Bitcoin has broken past south of 20 K, we haven't seen a lot of support around there. It's been bumping between 17 18 and 19 K sort of like an announcement at the end of the party where they're like, hey, it's maybe getting the limo and go to another party, but the limo has deflated tire, we can't quite get there. The party's over, but we can still try to keep it going a little bit. Some people are playing this off as a conviction bet, right? He's still buying, even when the price is down, but to me, this story just doesn't quite sit right. Wendy, I want to get your take as a trader. How do you see this story in terms of Bitcoin's price action? And then in terms of greater micro strategies movements, I want to get your take. I don't care about this story. I don't care about rich people buying Bitcoin. I want to see Bitcoin help the underdogs Bitcoin was not created or rich people. But I think that it's smart because they're probably going to use this for some sort of tax break. They're probably buying Bitcoin at these prices to kind of lower their average entry price also because it looks a little better on their balance sheets or whatever it is that they're using. Me personally, I've got limit order set all the way down to $9500 just in case I happen to get a swing with low, but realistically it's a big nothing burger for me. So congratulations to Michael saylor for buying Bitcoin rah rah rah. I also was like, I roll when I saw this story. But it is interesting because Michael saylor is no longer the CEO at micro strategy. And so I didn't think we were going to see Bitcoin buys in the foreseeable future. I know Michael is the chairman at micro strategy still. And so I guess that's still a big part of their business plan. I know on the show previously when we've spoken about micro strategy, we've said, what is their business? What do they actually do outside of buying Bitcoin? And so I went on their website today to take I know they do software to take a look at some of their customers. And like Pfizer, KFC, Disney lows, there are all customers of micro strategy and we talk so much about how shareholders are looking at these Bitcoin buys. I wonder how their customers are looking at them, and that is just what I wonder. I'm sure micro strategy will continue to buy Bitcoin. I think that that's a pretty safe bet and so go them. Gladys. I'll clean it up for one more thought. I agree with you guys. That's why I actually picked up the story. I think it's sort of boring at this point. It was so exciting back in 2020 and even 2021 when Michael saylor, which is buying up all the Bitcoin he could. But I think it's because everyone thought is going to pump their bags, right? But now we're in this very different macro environment where there's a lot of inflation, interest rates are going up, commies looking a little bleak. Coins are definitely not going out for quite a while. And so we see these purchases, even for lower prices, and it's probably going to help micro strategy going into the next bull run. I don't think anyone cares because it doesn't mean that their bags are going to go up anytime soon. And when you look at it against some of their old purchases, you're also a scratching your admin. Did micro strategy play this wrong? Because this purchase was really low, only 300 Bitcoin and $90,000 per coin. And it used to buy coins for thousands of dollars for $50,000 buy prices and they bought thousands of coins. So it's a little bit different entry and it seems like they maybe didn't play this whole market correctly. And that means that there could be some weakness within one of the bigger players out there. We need to you before we move on to last segment. I don't have a source for this. It is something I read on Twitter, so excuse me, but I did see something. I did see something that Michael saylor. It is everything is real. I made it up. No, but I did see something that micro strategy has a set fund of reserves that they're going to be utilizing to continue to dollar cost average in to Bitcoin. It was a lot of money. So I think that they're just going to continue to do that throughout the entire bear market. And hopefully once we do go into the next Bitcoin crypto NFT bull market, they come out on top. And we don't get in any more trouble with the third party ivory tower legislation bodies. I'd love to see micro strategy just diversify a little bit. You know, maybe pick up some altcoins. Will Michael feel? It's a moon bags. All right, let's move on to our last segment today. The first episode of this podcast drops tomorrow on the coin desk podcast network. You can get it the same place as you

Michael saylor Bitcoin micro strategy Wendy KFC Pfizer Gladys Michael Disney Twitter
"micro strategy" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

05:32 min | 2 weeks ago

"micro strategy" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

"Already subscribed to the channel, you know what to do, hit that bell icon, turn on all notifications. Will Smith that like button and drop a comment below. I greatly appreciate your continued support. But all right, now let's break down our next door of the day, the chief executive of financial advisory giant de vere group says that Ethereum's recent transition to a proof of stake should drive up the prices of crypto assets according to a new company blog post, the veer group CEO Nigel green says that Ethereum's merge is a landmark historic moment that will serve as a long-term catalyst for the digital asset industry, quoting him here the years in the making merge a network wide grand scale upgrade is here. This is a far reaching overhaul of the most commercially important blockchain in the digital asset ecosystem is probably the most important landmark even in crypto history since the launch of Bitcoin. It transforms Ethereum from a proof of work to a proof of stake mechanism, which lowers transaction costs, enables the network to process more transactions and a shorter amount of time, and we'll slash energy consumption by a massive 99%. And according to green, the merges reduction of energy consumption will entice institutional investors to put their capital into the nascent industry as a shares here, while some of the news has been priced in already, let there be no mistake. This event will be a major catalyst driving prices higher and the long term the slashing of energy consumption will be the main reason as it will become significantly more appealing to institutional investors who bring with them enormous capital, expertise, and reputational pull. Those institutional investors who have been sitting on the sidelines are now likely to move in less freaking go and green also notes that Ethereum's transition will reduce its supply, cut costs and speed up transactions, which will also lead to bolstered prices as he shares here besides having a more positive climate impact, the merges effect of reducing supply, cutting costs and speeding up transactions while also appeal to both individuals and institutions due to the significance of the merge. We expect the developments to bolster prices across the wider crypto market to some degree. So there you have it. Let me know if you agree or disagree with the CEO of the de vere group Nigel green that the crypto market will likely have a positive impact post merge, but now let's break down our next story of the day. Micro strategy CEO and Bitcoin advocate, Michael saylor, the one and only double down on his support for Bitcoin as he explained the issues related to transferring the value of physical properties such as gold, companies stocks are equity and real estate during the Australia, crypto convention, speaking about the underlying proof of work consensus mechanism, sailor highlighted that Bitcoin is backed by $20 billion worth of proprietary mining hardware and $20 billion worth of energy he then pointed out that the traditional assets such as gold and

Ethereum de vere group Nigel green veer group Smith Bitcoin Micro strategy CEO Michael saylor Australia
"micro strategy" Discussed on Markets Daily Crypto Roundup

Markets Daily Crypto Roundup

06:32 min | 3 weeks ago

"micro strategy" Discussed on Markets Daily Crypto Roundup

"To shift their computing power to cloud computing and artificial intelligence ahead of the network's move to a proof of stake consensus mechanism. As I look right now at ether node, the merge is set to take place on Wednesday the 14th, around 8 30 p.m.. And it will switch from a proof of work to a proof of stake system at that time, which will do away with the need for large amounts of computing power and data centers and is expected to reduce the network's energy consumption by at least 99.95%. So what are people doing with all their rigs? I mean, that's a lot of power and resources. Canadian crypto minor hive blockchain, which was skeptical of the merge even happening just last month, set on Tuesday that it was testing other coins that are mineable with its fleets of graphic processing units or GPUs, as well as cloud computing and AI applications. The minor already has a test pilot projecting at a tier three data center, where a portion of Nvidia 8 40 GPU cards are being applied to cloud computing. Quote, these cards, the a 41s can be used for cloud computing and AI applications and rendering for engineering applications. In addition to scientific modeling of fluid dynamics, the company said in a press release. Meanwhile, other Canadian minor hut 8, which has been diversifying into high performance computing since the start of the year, also said Tuesday that its latest batch of install GPUs will be quote designed to pivot on demand to provide artificial intelligence machine learning or VFX rendering services to customers. It lies a Gritty reports on that. Thanks for watching for that Adrian. Today's featured story is an opinion piece from coin desk, Dano Kuhn. My stories entitled just pay your taxes. On Wednesday of last week, the first lawsuit using a new whistleblower rule was unsealed, showing that Michael saylor, the founder and executive chairman of software intelligence firm micro strategy, is being sued by the District of Columbia attorney general for allegedly trying to evade payment of more than $25 million worth of taxes. The lawsuit covered on network television news has stood concerns that micro strategy and or sailor himself may be forced to liquidate some of their Bitcoin, putting further downward pressure on the crypto's price, as micro strategy is one of the biggest Bitcoin holders crypto investors began to panic about whether Michael saylor would have to liquidate some Bitcoin to pay for the consequential fines. An analyst at digital asset broker global block wrote in a note. The fear seems overdone. At least for now, and for a few reasons. But the action should serve as a reminder to crypto boosters that, even though they may hold non confiscated assets, they ought to pay their taxes in full. Tax avoidance schemes are legal loopholes, but require significant planning and commitment. Coindesk published a comprehensive guide to crypto taxes earlier this year. Linked in this article in the show notes. Further, now that the U.S. government is both signaling increased interest in overseeing the crypto industry and is revamping the Internal Revenue Service. It's reasonable to assume you're being watched. The lawsuit alleges that sailor perpetrated his scheme for the past decade to avoid taxes in Washington, D.C., claiming he was a resident of Virginia in Florida, to lower tax jurisdictions. The investigators, though, came to the opposite conclusion after being tipped off by tracking sailor's private jet flight records, social media posts, and from unattributed conversations with sailors peers in which he supposedly said people were fools for paying their income tax. The court documents don't provide a full amount sailor and found guilty may have to cough up. But he'd owe all unpaid Washington, D.C. taxes for 8 years, compounded annual 10% interest payments, a separate civil penalty of $11,000 for each violation, and other fines for fraud. That could be upwards of a $100 million, according to the office of the attorney general. The fear that this action could somehow lead to a liquidation crisis in Bitcoin are a bit unfounded and tend to confuse the former micro strategy CEO. He stepped down last month, we should mention, with his company itself. First, the government has to win its case, which might involve unfairly applying the recently passed false claims act. One expert cited by The Wall Street Journal said, it also assumed sailor couldn't cover a multi-million dollar liability that he liquidate his Bitcoin rather than any of the mansions or Yahtzee owns, and also dump it on the market rather than selling in tranches to avoid slippage. The government must also prove that micro strategy is implicated in sailor's scheme. Apparently, in 2014, the attorney general claims micro strategies then chief financial officer was, quote, uneasy with the chicanery. And confronted sailor about the potential corporate liability for his personal tax evasion. In response, micro strategy called the lawsuit sailors personal tax matter and said it had no responsibility for his day to today affairs. Sailor also denied the claims and reiterated that he lives in Florida, not in historic Georgetown mansion, or in a yacht docked on the Potomac river as claimed. The fears, similar to rumors that forthcoming payouts to mount gox depositors will credit Bitcoin's price, stem from micro strategies, systemic importance in Bitcoin. The company spent about $4 billion acquiring BTC, which turned its stock into a bonafide Bitcoin exchange traded fund. But the company is still well capitalized and has been generating cash for years. The liquidation price for its Bitcoin is around $3000, a company rep said. Is any of this out of the question for a former CEO who was convicted of accounting fraud that recommended people sell their homes to buy Bitcoin. That leveraged up on his company's Bitcoin stockpile. I mean, let the courts not social media decide. In typical sailor fashion, though, he apparently once called the District of Columbia, quote, the most powerful city on earth. The man has a penchant for overstatement. The worst case scenario is that Bitcoin sees greater than average selling pressure, but that seems unlikely given sailors known commitment to the network. This fear, not exactly widespread, seems like the type of pessimism seen during bear markets, where investors are on edge and begin assuming some other crisis is sure to happen. But one thing is certain for anyone who isn't bordering on megalomania is to just pay your taxes or look into flag theory. Hey, listeners, thank you for listening. On behalf of markets daily, you're invited to coin desk's new event. The investing in digital enterprises in the asset summit or ideas for short. This event facilitates capital flow and market growth by connecting the digital economy with traditional finance. Join us on October 18th and 19th for a 360° investment experience where you can source invest and secure your next big deal in digital assets in one place. Use code markets 20 that's all one word and with the number 20 for 20% off a general pass. Register today at coin desk dot com slash ideas.

Michael saylor Bitcoin Dano Kuhn micro strategy Coindesk Washington, D.C. District of Columbia Nvidia Adrian Internal Revenue Service U.S. government sailor Florida Yahtzee
"micro strategy" Discussed on The Bad Crypto Podcast

The Bad Crypto Podcast

05:57 min | Last month

"micro strategy" Discussed on The Bad Crypto Podcast

"I saw it on a couple of YouTube channels. And they were talking. They were talking about star Atlas as one of the most amazing games that could be coming out. And that's on Solana, but who knows maybe so maybe it'll move from one to another down the road. We'll see. I'm stacking my Atlas in polis tokens because right now, the value is really low, but that's one and this is not investment advice gang, DYOR that means do your own research, but if they're able to pull this off, I definitely see an increase in value on those tokens forth coming. So did you see this? This just broke here right before we were about to record on coin desk dot com District of Columbia suing micro strategy founder Michael saylor for tax fraud. They're also suing his software company for allegedly helping him evade taxes on his earnings in the district. Of course, these are just accusations and I don't know what Michael saylor is response has been to this yet, but they're going after him. Well, I would almost, it's wild. I don't know all the details of it, but I'm just looking at ancillary. If that's even a word, it is. Now. Now it is. But I mean, I know that, you know, micro strategy was buying Bitcoin around 40,000 or buying Bitcoin and these different numbers. So it's conceivable that he's actually lost money. Yeah. I mean, depending on when he bought in Bitcoin, and then when he pulled out, or if I don't think they've actually pulled out, but they're saying that so Mike, but I don't know what micro strategy is doing. And this doesn't necessarily say anything directly about crypto. The district for more than a decade and has never paid any D.C. income taxes. So that could be its own thing. Well, it's because he lived in the district for at least 183 days per year, which is the minimum to be statutory resident, but he claimed to be a resident of Florida or Virginia by purchasing property there and registering to vote there. They put micro strategy reports as residency as being in Florida for his forms filed with the IRS. So they're saying there's some janky stuff. They're saying that he owes 25 million in taxes to the district. They want back taxes, treble, damages, civil penalties, expenses, fees, this will be interesting to watch. There's not been a reply from him yet as a story just broke. Well, I would say this for Juan, why in the hell would anyone want to spend a 183 days in the district? That'd be enough to snatch the soul right from your being. Can you imagine living there just being, you know how they say radiation poisoning is something you get from being too close to radioactive toxicity. Can you imagine living in the beltway? That is just one big toxic dump. It's actually if you, this is not even conspiracy theory at this point, but if you look at how Washington D.C. was actually built one, it's like a sideway square, right? So it's kind of built like mer. But inside that, there's actually, there is sacred geometry built inside Washington, D.C. in the shape of a pentagram. And literally, and if you look at everybody who was part of building Washington D.C., you can chuckle all you want, but they were full on freemasons. That shit is to them.

Michael saylor micro strategy Solana YouTube Columbia Florida D.C. Mike Washington D.C. IRS Virginia Juan Washington, D.C.
"micro strategy" Discussed on CNBC's Fast Money

CNBC's Fast Money

08:20 min | Last month

"micro strategy" Discussed on CNBC's Fast Money

"My thinking is, this technician that it's just too steep, uncorrected, almost unnatural. From the absolute love of June, June 16th, apple is up 30 5%. And the angle of the line has become increasingly unnatural. No give backs, no, not even a down two day sequence. And so not only do we have that sort of unnatural line, we are up against a downtrend line. Well, that was a good call. The tech Titan dropping more than 9% since then, so we have to bring Carter worth back. Carter, we're going to ask you to play the game from here, trading or fading apple at this point. Yeah, I'm going to break the rules here. I think you do nothing. So I know that's not helpful. 10% sell off. Really press the short that seems a bit aggressive, but just because it's sold off 10%, buy it, really? Why? Meaning we've had a ten day sell off that's 10.8% and yet it's just in line with the cues. The cues are down that much, 10.8. The Russell is down 9.2. So I think there are these moments that we try to be actionable. We all do try to call the direction. And some moments where, I don't know, it's pretty close to 50 50. I guess if one has profits in this short, I'd clear out and go on the sidelines. But if I were on the sidelines right now, I don't think I'd get on this on board long or short. Leave it alone. Does this mean that the leave it alone option also stands for the broader markets? Well, no, I think the broader markets in general and then you could say there's so much autocorrelation with Apple at 7.3% that the answer is the same variable that if I'm going to say the general market is going lower, then Carter, aren't you saying that the apple's going lower? If I have to be directional, I would rather be underweight or short apple and that's the same for the market. Okay. See, I feel like that's okay of Carter bracelet 'cause the message was clear from him and that was do nothing. I wasn't do this first and then do that. But Jeff mills, where would you stand on apple here at this point? Tim mentioned earlier, I think almost at 25 times forward, it's really never been that expensive in the ten years prior to COVID. And for me, it all comes down to earnings expectations. Again, I mean, even if you don't see a fall in earnings expectations, you're still talking about a 23 times multiple in the out years. And you mentioned some of the guide downs Mel Seagate HP in the hardware. I know it's not exactly the same, but at the same time, iPhone still has over 50% of its revenues tied to Apple has 50% of its revenues tied to iPhone. So I think the weakness in consumer will ultimately permeate into apple's earnings and then that will put pressure on the stock not to mention the fact that the multiple is where it is right now. Carter, I understand that you have another chart that you've brought along for us. CRM? Well, I thought we'd talk about Salesforce. I got three of them, actually. Let's look. Here we go. They're all the same time frame. So it's just different lines, different ways to draw the line. So we know that Salesforce bounced with the market, but the problem is, it's only 1% above its 52 week low. It would take the S&P and 8% drop to get to its 52 week low. The NASDAQ, a 10% drop, we're hovering ominously right at prior lows. Another way to draw the line. Second iteration. You can see it here on your screen. Or third iteration. It's all the same chart, but we are breaking more hovering honestly. So relative strength is poor, price line is embarrassed. Correlation. And I think you're going to take out the lows. Nvidia is in the same boat, Adobe, and that's kind of the problem with the market because the big names in tech, among other things, are not acting well. Guy, if you are a believer that there is some caution amongst corporate America amongst enterprise in terms of spending, then that makes sense. That Salesforce would break. That's been, yeah, and that's been carrying Feynman's theme if I know you know this. I mean, that's how she's sort of been hedging some of her long positions. Vis-à-vis exactly that. And I'm with Carter on this one. I mean, if you recall when he put that Apple call out, I was on the phone doing hedging strategies, which was one of my best gags ever of all time. And he was spot on in his timing. And he seemed to be right on this one by definition, I think, in this environment, high multiple stocks valuations have to come down regardless of what you think of the companies. They're great companies that just too expensive in this environment. Carter, thanks. Good to see you. Carter Braxton worth of worth charting. Coming up, options traders giving Lulu a try on ahead of earnings tomorrow, but could shares need a warmup before heading higher, how markets are playing this name next. Plus shares of micro strategy pulling back late in today's session after accusations of tax fraud against its founder, one of the early poster children of the crypto world, the details when fast money returns. Welcome back to fast money shares of micro strategy sinking today following tax fraud allegations against the company's cofounder and executive chairman Michael saylor. The lawsuit filed today in the District of Columbia, accuse a sailor of evading $25 million in taxes. It also names micro strategy as a defendant, CNBC's amen javers has been following this one today. Amy, what's the latest? Yeah, that's right Melissa it's both the man and the company, the attorney general of the District of Columbia says he is suing billionaire micro strategy CEO Michael saylor for non payment of taxes alleging that billionaire tech executive has lived in the district for more than a decade, but has never paid any D.C. income taxes. He also says he is suing sailor's company, which is located just across the river in suburban Virginia for, quote, conspiring to help him evade taxes. He legally owes on hundreds of millions of dollars he earned, while living in D.C.. The suit alleges that sailor illegally avoided more than $25 million in taxes by pretending to be a resident of other jurisdictions, including Florida and Virginia with lower personal income taxes. Now, the filing states of these sites, these sailors social media posts showing his waterfront building and his yacht on the Potomac as evidence that he actually lives in D.C.. These from 2012 as you see on the screen there, they also cited a whistleblower's complaint that alleges sailor openly bragged to friends and acquaintances about evading D.C. taxes and encouraged others to follow his example. In all they say, sailor avoided paying more than $25 million in income taxes, we've reached out to micro strategy for its comments on this allegation, no response from them yet, no response from sailor yet, back over to umas. Amen, would you know if he has found guilty of tax evasion if that would disqualify him from being an officer at a public company? That's a really interesting legal question. I don't know off the top of my head. Now remember, they moved him out of the CEO role, right? So he has a different role at the company. I don't know if that would play into it, but I need to check the law books before I answered that question definitively Melissa. Okay, amen, thanks, Amy and jabbers for the latest on that. That was definitely a stab in the dark. So I apologize to Damon for that. But I think that would be a concern potentially for investors since he has been sort of the evangelist of the Bitcoin strategy, which really has been a huge part of the micro strategy valuation for so long to him. Without question. And out there and not only unabashed about it, but really aggressive in it. And so certainly a second quarter markdown, I think of $920 million or so on a Bitcoin position that obviously we know what's happened to the price of Bitcoin. I think most people that are playing in the crypto space but specifically around Bitcoin, feel pretty comfortable with some of the volatility in the space. And I think that's very clear what I think micro strategy feels. And in terms of the executive change that went on, I think this was something that I think he moved from the CEO seat to the executive chair seat about a month ago. And market largely expected that. And so look, this is news that I think obviously shareholders are listening to. But right now, I think the issues with the stock are more around just balance sheet and how much leverage to Bitcoin. Yeah, guy. Well, I mean, I can speak intelligently about a lot of things.

Carter apple Salesforce Carter bracelet Michael saylor Mel Seagate Jeff mills Carter Braxton D.C. micro strategy Russell
"micro strategy" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:09 min | Last month

"micro strategy" Discussed on Bloomberg Radio New York

"Looking at a three 17 nearly as we head into the close. And it was from three 30 that volumes really started to pick up as well on the S&P. So we are seeing actually a little bit more elevation as we head towards this close a bit more commitment to the selling pressure. In fact, volumes now about 9% over where they have been over the last 20 days. We're looking at an 8 tenths of a percent sell off on the S&P 3955 is where we closed 31 points to the downside. We're seeing at the NASDAQ despite the cheering. It was a down day there to 6 tenths of a percent lower 67 points lower 11,816 and volumes actually managing to be underwhelming versus where we were the last 20 days. Volumes are higher on the Dow and there are also 2000 took a bit of a nosedive just into this market close and we're seeing overall it under pressure as well to the tune of 18 8 tenths percent. If you dig into the numbers on the S&P 500, you had 85 stocks finished in the green that means over 400 were in the red and that is definitely reflected at the overall index level with those losses. Same two on the sector level, Katie, for a radio audience, will make sure to tweet this out to you the best performers the worst performers, it is all read entirely on the screen except for one. There was one sector that ended up in the green. It's media and entertainment companies, you're up three tenths of 1%. Everything else just really looked like it was pulling the weight downwards. I'll bring it down to some of the worst performers as well. It looks sort of classic risk off. A lot of this is technology and hardware, semiconductor equipment, telecom services, but then you get some of the durables in there. The household products, the retailing segment in there, Katie, those are all as much as one and a half percent. So maybe you have a little bit more of a mixed bag down at the bottom of the screen too. A mixed bag also when you look at some of the corporate news that we got today, sort of a tale of two turnarounds emerging. Of course, we got to start with Bed Bath & Beyond unveiling its own turnaround plan, which involves shutting a 150 stores cutting 20% of its workforce again trying to reduce costs, but you look at the stock reaction, closing over 21% lower you can trust that to what we got from snap also saying that it's going to trim its workforce to the tune of about 20% bringing on Jerry hunter SCO shareholders very happy. There are shares up almost 9% or so. So really interesting to see that sort of different shareholder reaction. I did want to talk about micro strategy. This is an interesting one. Just news today that Washington D.C. is going to sue micro strategy executive chairman Michael saylor for tax fraud. They are claiming that he skipped out on paying more than $25 million in income taxes that could explain why the stock is down about 3.6%, even though you did see a little bit of a lift in Bitcoin. And I wanted to end with chewie sort of sticking with the Rhine Cohen theme Chewy said that it's cutting its revenue outlook and said the customer growth has slowed that's showing up in the shares Taylor I guess we are not buying enough cat food. Okay, we got to keep going then. Yeah. Just you two and then add in a healthy dose of shiny Bassett with the dog food and you're basically all three of you popping up this pet food commodity space. I'm looking at commodities more broadly. And it has been actually a down day. Interestingly, we've usually seen commodities be the outperformer certainly on the month on the year, but on the month we started to see oil roll over and we've got Brent crude off by 2.8% on the day. On the month, we're seeing actually a third month third overall month of declines that we're seeing for oil. That is the worst losing streak in a couple of years now. And we're seeing this pressure at $95 a barrel. Interesting that we still see inflation so high over in Europe. He's in his WTI cruise come up by 2.9%. And indeed, we did see real weakness in European natural gas prices again today as many start to hope that we've built up some sort of a supply in the wells in the overall storage going into the winter period, but still the anxiety around the overall supply chain coming from Russia is one to be keeping an eye on when it comes to the ECB. Let's talk about the UCB because of course this is an area of focus with the Euro actually outperforming and strengthening of three tenths of a percent because we are expecting maybe a 75 basis point hike from then when you see inflation come in at 9.1%. Yes, it's somewhat backward looking with a Matt gas prices rolling over. But it's still speech to the food inflation, the rental inflation and the real bind that the economy is find themselves in. We saw, of course, the Canadian dollar, the loony weaker as we see all drop off, Norwegian krone, again, really linked to the oil market its weaker to 1.3% and really was the story of dollar on the flat side. Mixed picture we saw money moving into Norwegian debt, maybe in a bit of a haven bid as oil rolls over, but money moving out of UK get debt and indeed Portuguese Belgium. It was a sell off in European bond markets tailor. Same here Caroline within full faith in credit as we always do yields really sort of lifting up here all the way across the curve. 40 even now 7 basis points all the way across is you really get to lift up in the two year, which I know has been such a big focus. Of course, for the Federal Reserve and today, not thinking about lower growth on the horizon and the signals that you would get a fields were falling on tens and 30s. But instead, more of that reflationary inflationary yield as well. We wrap up the months, you know, and for me, when we think about sort of the Federal Reserve, if we think about tighter financial conditions, whether it comes in yields, nominal real to rising, but also nest and P 500 that closes 4% down in August and NASDAQ 100 that loses 5% in August. So sort of these big monthly round numbers that we think about too and sort of all the ripple effects on what these tighter financial conditions look like. And for you, I did go back and see when was the last time we lost that much money in the stock market and it was not last month, but it was the month before that. Let's take a look at what the fed had to say, fed officials have been stressing that they're committed to defeating inflation, but they're vague about how big that policy move is going to be. Loretta mester, president of the Federal Reserve bank of Cleveland, she spoke earlier in Dayton, Ohio. The size of rate increases at any particular FOMC meeting. And the peak fed funds rate will depend on the inflation outlook, which depends on the assessment of how rapidly aggregate demand and supply are coming back into better balance. And price

Jerry hunter Katie Washington D.C. micro strategy Michael saylor Rhine Cohen Bed Bath & Beyond Chewy
"micro strategy" Discussed on WTOP

WTOP

01:38 min | 2 months ago

"micro strategy" Discussed on WTOP

"Residents getting their first associate or bachelor's degree, and the D.C. tuition assistance grant pays the difference between in state and out of state tuition, up to $10,000 annually at public colleges and up to 2500 at private colleges. Gathering bonk to WTO V news. Nobody TOP at three 55 money news 25 and 55 pretty big day here, Jeff claypot. It really is. The Dow was up almost 500 points, 494 points. That's one and a half percent, the S&P 500s up 72 that's more than one and a half percent and the NASDAQ is up 340 points. That is a two and three quarters percent gain. Applications for a mortgage rose for the first time in 5 weeks last week after what was a fairly noticeable drop in rates. Potential buyers are a bit more optimistic too, 22% in the market say the search has gotten easier home buyers borrowing big or more likely to apply for an adjustable rate mortgage. The average size of a fixed rate mortgage last week was $352,000. The average size of an arm last week was more than 714,000. A Northern Virginia technology pioneer is stepping down as CEO of the company he cofounded micro strategies Michael saylor will instead focus on increasing the company's Bitcoin investments, micro strategy posted a $1 billion loss last quarter on the plunge in cryptocurrency values. Jeff cable, double TLB news. Thank you, Jeff. President Biden signed an executive order aiming to let Medicaid pay for women who need to travel across state lines for abortions. That story straight ahead, it's three

Jeff claypot WTO D.C. Michael saylor micro strategy Northern Virginia Jeff cable President Biden Jeff
"micro strategy" Discussed on WTOP

WTOP

02:26 min | 2 months ago

"micro strategy" Discussed on WTOP

"The highest amounts of ultra processed foods have a 28% faster decline in global cognitive scores, 28% that would be things like memory, verbal fluency, and executive function. Christie king WTO P knows. WTO pin used time three 25. Money news at 25 and 55 after the hour, Jeff clay bought things are looking pretty nice out there. The Dow is up 464 points almost one and a half percent. The S&P 500 Index is up. 68 points at his 1.7%, the NASDAQ is up 323 points. That's more than a two and a half percent gain. Airbnb had record bookings last quarter, pushing its revenue up 58% and its most profitable quarter to date. July 4th was Airbnb's biggest single day for vacation rental bookings in the company's history. Tyson's base micro strategy is one of the world's biggest holders of Bitcoin. And it lost almost a $1 billion last quarter. Micro strategy CEO Michael saylor who founded the company 33 years ago is stepping down as chief executive to focus more on the company's Bitcoin investing. Ford has another pickup hit on its hands. The only electric F one 50 lightning, which came out in late April, has log sales in all 50 states led by Texas and California, the F one 50 lightning starts at around $40,000, Ford can't keep up with demand for its small maverick pickup truck, which starts at around 21,000. Jeff claypool, double TT will be news. Money news brought to you by nhtsa. If you speed, there are lots of sounds that you might hear, like the sound of your vehicle crashing because eventually speeding catches up with you, paid for by nhtsa. The stunning victory for abortion rights supporters in a red state. That's coming up. Three 26. Coach Bruce Pedro here, I may spend my winners up north, but I spend a lot of my summers here, and I'm melting, just like you are. That's why I love Thompson creek windows. They help seal cool air in and keep the sizzling summer heat out. Forget about those supply chain delays that other window dealers are seeing. Start saving immediately with Thompson creek sizzling summer sale. Buy one window, get one 40% off, including expert installation and incredible finance options. Make the smart play. Beat the heat

Christie king Airbnb Jeff clay WTO Micro strategy CEO Michael saylor Jeff claypool Ford nhtsa Tyson Coach Bruce Pedro Thompson creek Texas
"micro strategy" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:15 min | 3 months ago

"micro strategy" Discussed on Bloomberg Radio New York

"It is 8 30 a.m. in Hong Kong and here in Singapore and Juliet Sally. We have trading underway in Tokyo Sydney and Seoul where an hour away from the day's trading Hong Kong and Shanghai. We are seeing gaines on the regional benchmark index to kickstart the new training week. Well, it has been a volatile weekend for cryptocurrencies, meanwhile, a number of factors at play. Bitcoin trading at $19,284 at coin right now, Bloomberg's Denise Pellegrini, tracking all the developments. Crypto analyst Timothy Peterson of cane island alternative adviser says there's a 70% chance we are in a recession. And he says, if that is confirmed, it could mean a 40% downside in crypto from here. Also, the high wire act over at micro strategy is getting some attention, CEO Michael saylor, intended his massive Bitcoin purchases to be a hedge against inflation, but now the enterprise software makers crypto stashes just worth under two and a half $1 billion. That's less than half what it was worth three months ago. There's also a word that since Bitcoin crashed, sailor is actually been adding to this position. Denise Pellegrini, Bloomberg, daybreak, Asia. And risks are rising that a recession will hit the U.S. sooner rather than later, and this according now to former treasury secretary Larry summers in an interview with Bloomberg TV, summers told us that the recession could arrive by the end of this year. We've got the first quarter numbers in the bank. They are negative for GDP. I think it probably close to a 50 50 chance. Maybe it's a bit less than that, that we've had two negative quarters in a row. So I think the risks of a 2022 recession are significantly higher than I would have judged 6 or 9 weeks ago. Summers went on to say if the economy did go into recession in the next 6 to 9 months, we would probably see a reduction in inflationary pressures. We'll Tesla delivered around 255,000 cars worldwide in the quarter ending June that is lower than analysts forecast and it snaps a two year streak of quarter on quarter gains. Tesla cited ongoing supply chain challenges, and factory shutdowns for the disappointing results, saying these challenges are beyond control. One of the major headwinds, of course, came from the COVID related shutdown at its factory in Shanghai, having said that the results are still an improvement from the same quarter a year ago. Let's get over to Hong Kong now for a check of the Asian trading session with Bloomberg's Brian Curtis Bryan. Well, we're seeing outperformance in the Asia Pacific, a continue here. We had pretty good outperformance in the second quarter of the year. I mean, the first whole half was not good for anybody in equity markets, almost almost anywhere where you look. But it did, it did turn fairly positive in Asia for the second quarter. And here we are. I mean, we don't have any really good news, but the nikkei is up more than 1%. The ASX 200 is up 1.7% and the cost is trading up about three tenths of a percent. And this is given weakness that we've seen in semiconductors. And if you looked at Taiwan on Friday, Juliet, you had the Thai X down more than three and a quarter percent, and you had the tyres falling into a bear market. But it's like I was saying about 15 minutes ago. It just seems like there's a lot of rebalancing going on. Everybody knows that economic weakness is kind of setting in here in a sense, particularly in Europe and in the United States. On the other hand, they're thinking, well, maybe if we're going to be moving toward a recession, that will get central banks to pivot a little bit and become a little bit softer in their approach. Maybe not start cutting interest rates or anything. So dramatic like that, but just slowing down. And so that would seem like a standoff that maybe you'd go sideways. So why are we going up? I think you have to say that probably some investors just playing on a bad first half means rebalance a bit for the second half. Anyway, we got the rallies today and we'll see how long it lasts. Right now with currency is the dollar is not doing all that much. It's falling a little here. The Bloomberg dollar spot index down a tenth of a percent. And as we mentioned, traders are pulling off their bearish yen bets in the end has gained this morning, so dollar yen is down, one 34, 96, and the yield on the ten year treasury last traded in New York with yield of 2.88%. 34 and a half minutes past the hour of Juliet back to you. Thanks, Brian, time for global news

Denise Pellegrini Bitcoin Juliet Sally Hong Kong Timothy Peterson cane island micro strategy CEO Michael saylor Bloomberg TV Bloomberg Shanghai Tesla gaines COVID Crypto Seoul
"micro strategy" Discussed on Techmeme Ride Home

Techmeme Ride Home

02:23 min | 3 months ago

"micro strategy" Discussed on Techmeme Ride Home

"Customers high yield for crypto deposits, which it lends out to other crypto firms. It shares that business model with BlockFi and nexo among other players. So you could see how a project that lends out crypto to earn yield could have an effect on the broader markets if people are pulling their loan to crypto back or at least attempting to, Bitcoin has dropped around ten to 15% to below 23,000 and a half dollars at the time of this writing. Bitcoin, by the way, is down 23% just from Thursday afternoon. Ether dropped by more than 15% to around $1.2 thousand per token, avalanche dropped more than 15% and Solana dropped 15% or more. And it's getting worse as I write this. Binance has temporarily paused BTC withdrawals, citing a stuck transaction and initially giving around a 30 minute time frame for the fix, but no updates have been given for at least 90 minutes. But Brian, how is this any of this new? It's another day, another, whatever this sort of mess is. And yes, I agree with you, but listen to this. It kind of sounds like a bank run is going on, right? Kind of sounds like Celsius might not be solvent, a real layman situation here. Well, Canada's second largest pension fund was among the investors in a $400 million equity round of financing for Celsius just back in October. And remember, micro strategy that company that at the start of the most recent crypto bull run bought a bunch of Bitcoin, well, micro strategy as of this point has a $205 million BTC collateralized loan with silvergate bank. If BTC drops below $21,000, the company will be forced to hand over un collateralized BTC to answer any potential margin call. That's what I'm hearing on Twitter. You know who else bought a lot of BTC? Tesla. Twitter tells me that combined Tesla and micro strategy are currently sitting on an impaired loss of $1.5 billion. So what would happen if Tesla and or micro strategy were forced to sell their BTC? Oh, and you know who else is? Current paper losses and Bitcoin are at this point totaling 44%. That would be the sovereign nation of El.

BlockFi Binance Bitcoin Solana silvergate bank Brian Tesla BTC Canada Twitter un El
"micro strategy" Discussed on Stansberry Investor Hour

Stansberry Investor Hour

07:48 min | 4 months ago

"micro strategy" Discussed on Stansberry Investor Hour

"So why I sold Bitcoin. I saw Bitcoin in the current issue of extreme value, which came out on Friday. I'm pretty sure most readers have had time to look at it. I sold late, late Friday night and it didn't affect the market because Bitcoin went up after I sold, so I think I sold in the 29,000 area and it was 30 pretty quick after that. So why did I do it though? Why did I recommend my reader sell? Well, I did it just, you know, maybe ten hours or so. I was up pretty late after publication. Because our trading policy, which requires us normally to wait, I think like 72 hours or something. It did not come into play with Bitcoin. It doesn't affect Bitcoin. So that's why I sold right away. I thought, you know, I really have no reason to wait. I told the readers to do it. They've had several hours to look at it, et cetera. I obviously didn't move the market. So if you're an extreme value reader, okay? Full disclosure. But let's get to the reasoning on why I did it. Initially, when I recommended Bitcoin in early 2020, I actually gave most of the reasons that you're familiar with. I don't think that I added anything really different to the to the debate there on why you should own it or not own it. You know, the scarcity of it is attractive when you're creating a currency, you don't want it to be something that can be just easily printed in trillions and trillions worth, you know, at the drop of a hat like what we've seen with the U.S. dollar in the past couple of years. You don't want that because you will get inflation and that's what we have now. So that's an attractive quality of Bitcoin. It's don't ask me. I'm not a computer guy. I'm not a software engineer. So, but folks who I think know what they're talking about say, you know, the code isn't great, but it's secure and, you know, it'll get better over time. You know, the whole and by that, I mean, also just blockchain and Bitcoin and anything to do with it. So why sell? Well, the main reason really is that I bought the line about this being a substitute for money for dollars. And I thought, well, you know, it's like a call option on the failure of the U.S. dollar, isn't it? If it really does function well as money, so why not just buy a little bit and you either lose a little bit or maybe you make like, you know, a hundred times your money or something. And then I became more confident in it and I added to my position over time. So, you know, I wound up slightly more than doubling my money, even though I started buying a 10,000 and sold it like 29,000. I did buy some above that. But overall, I mean, I did a little more than double, I think. And the problem, the main problem I had with it is that I had these ideas about it being potentially a currency or a store of value, and they aren't materializing at all. In fact, I've said this many, many, many times. This shouldn't be a big shock to the folks to you who listen to this show or to people who subscribe to my newsletter because I've said many, many times. Here and in print, this Bitcoin does not trade like a story of value or a currency. It trades like a speculative technology long. It's your long technology, right? And therefore, short volatility, right? So when your long technology and technology starts falling apart, Bitcoin gets hit, you know? It was $69,000 at the top, and now it's, you know, high 20s low 30s lately. And all over the place in between. It's just really volatile and it correlates with the NASDAQ. We interviewed Hugh Henry a couple of weeks ago in the show, and he mentioned that correlation with NASDAQ. And I was like, well, NASDAQ is kind of the opposite of what I want Bitcoin to be. I don't want it to be a speculation on new technologies. I wanted to be a secure scarce resource like gold or silver that works in this worldwide electronic network, you know? But it's not acting that way. And then Michael saylor from micro strategy, the CEO of micro strategy who came out a while ago, but a couple of years ago and said, you know, I'm putting my company's treasury into Bitcoin. And he borrowed a couple 100 million to buy Bitcoin with it. And I saw a video of him telling people by Bitcoin with all your cash, borrow money against your house and buy Bitcoin, you know, sell everything you own and buy Bitcoin. It was like the dumbest thing I've ever heard a CEO say in my life and levering up to buy Bitcoin with the company treasury is one of the dumbest things I've ever seen a CEO or a corporation do. In my life, you're inviting a problem. And then to make matters worse, both Michael saylor and the CFO of the company said in public that they will get a margin call if Bitcoin goes below $21,000. And you know, he's got these slides this slide deck out that you can look at. This is no, everything will be just fine. We'll have to put up a little we'll have to pledge more collateral and I've been tweeting saying this guy's just put blood in the water and the water is filled with sharks. Essentially, that I don't think I tweeted that exact thing. But when you tell the world where you're going to get a margin call, it's like telling every trader in the world to come and kill you and crush your position and short you down to that level because once you get down to that level, a forced sale of your Bitcoin or whatever your asset is that's margined in this case it's Bitcoin becomes more likely. So I don't care if he has to pledge another one or 2% of collateral or ten or 20 or 30. It doesn't matter. What matters is that he's now got a target on his back, everybody knows where he's going to get the margin call. And everybody knows where he's going to have to pledge more collateral. And you tell me, when you get a margin con, somebody says you got a pledge more collateral, are you closer to a forced sale? Are you closer to your broker forcing you out of the position and selling no matter what the price at any price, whether the thing is spiraling down or not, or are you farther away from it? Are you just, are you just fine when you get a margin call? I don't think so. I don't think that's how this works. And I don't care what numbers he publishes about how much collateral he has to pledge. There's blood in the water, everybody knows where the target is. It's 21,000 when the thing goes to 20,999. He gets a margin call. He's got a pledge more, then people start selling more, okay? And then before you know it, it's 19,000. And instead of having to pledge 1.8%, now or whatever the number is, it's less than 2%. Now we have to pledge 20 and then down and.

Bitcoin micro strategy Michael saylor Hugh Henry U.S. treasury
"micro strategy" Discussed on Techmeme Ride Home

Techmeme Ride Home

05:38 min | 5 months ago

"micro strategy" Discussed on Techmeme Ride Home

"Are now teetering. Meta is cutting back even when it comes to the metaverse. Could an Instacart IPO lead us out of this darkness? Disney's streaming business is holding up for now, and the AR demo that was the most exciting thing to me from the IO keynote yesterday. Here's what you missed today in the world of tech. Look, a lot of today is going to come to you from the everything everywhere all at once file, things continue to be dicey out there. After UST's collapse, most rival algorithmic stablecoins are now below the dollar peg. Tether and USD C, the two largest are mostly holding their dollar pegs, but they're not algorithmic, right? Tether, the largest stablecoin of any flavor briefly dropped to a 24 hour low of 96 cents, though. So yeah, things are teetering all across the ecosystem, quoting Bloomberg. Most rival algorithmic stablecoins which use a complex combination of computer code and trader incentives to maintain their pegs of one to one to the dollar are also below that threshold though, not at the 80% extreme scene by Terry USD on Wednesday. MakerDAO's die slipped .4% before recovering to its peg. And phi slipped .5%. Neutrino USD fell 20% over the same period of time, according to data from coin market cap. Terra USD or UST and its related token Luna had a long way to fall. They both recently climbed into the top ten tokens by market value after Tara founder du Kwan established the Luna foundation guard, which bought billions of dollars of Bitcoin to back it up. Investors had rushed to take advantage of yields that might reach almost 20% on anchor protocol, which is powered by the Tara blockchain. On Wednesday, Kwan announced measures aimed at bringing Terry USC back to the dollar peg, which includes minting Luna at an increased pace. The total circulating supply of Luna has surged to 1.46 billion tokens from 377 million yesterday, data from researcher masari show and quote. It's unclear to me how much of this turmoil is, what is affecting the price of other coins, but Bitcoin dropped below 26,000 briefly for the first time since December 2020 down 15% in a mere 24 hours, ether, dropped to as low as 1720, its lowest level since July 2021, which means micro strategy. Remember them, they're the company that made a massive Bitcoin bet. Well, that bet is now underwater on paper as Bitcoin trades around $28,000 this morning. Micro strategy holds 129,218 BTC, bought for an average of $30,700. I saw this article this morning speculating that at this .40% of Bitcoin holders are underwater. And that 50% of all crypto traders at the end of 2021 had gotten into crypto for the first time in that year. So if that was you, you're likely down to, no matter what you invested in. So given that environment, you know what would not be helpful to overall market confidence. I don't know. Maybe something like the CEO of coinbase having to come out and say there's quote no risk of bankruptcy after coinbase said in a recent filing that its users might lose all their crypto if the exchange were to go bankrupt. Quoting the Financial Times. Coinbase stock fell 23% after it reported a significant slide in its revenues, which missed analyst expectations, as well as a sharp fall in trading volumes in its first quarter results on Tuesday. The poor results together with concern over a regulatory filing later that day prompted chief executive brand Armstrong to state on Twitter. That coinbase had quote no risk of bankruptcy. His comment came after a new disclosure suggested customers could be on the hook for claims against the exchange, sparking alarm among coinbase's users. According to the filing, the crypto that coinbase holds in custody for users quote could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors and, quote, as a result, users may find the platform quote more risky and less attractive, end quote, potentially hurting its financial health, the filing said. But Armstrong rushed to reassure users. Apologizing for failing to communicate proactively when the new wording was added, quote, there is some noise about a disclosure we made in our ten Q regulatory filing today about how we hold crypto assets. Armstrong wrote on Twitter, adding that rather than being at risk of going bus, the exchange changed its terms to satisfy a regulatory requirement. Analysts at web Bush noted that coinbase was quote flush with cash and still investing quote aggressively during the downturn. In its first quarter results, the company reported greater losses than expected by Wall Street, 430 million in losses compared with the 47 million in losses that analysts had estimated. And predicted that trading volumes and user numbers would continue to fall in the current quarter. Coinbase shares have lost 67% of their value since the start of the year with their price falling below $100 for the first time since the company went public in April last year. At the time of its IPO, coinbase shares were worth $381. Quote. I hinted at this on the Twitter space last night, but as coinbase is approaching around or under $12 billion in market cap, could they be a takeout target? There's not a lot of big tech platforms in this regulatory environment that could take out a rival that has crashed to new lows, but you could see Wall Street banks and others might eye something like coinbase as a pretty.

coinbase Terry USD MakerDAO du Kwan Luna foundation guard Tara blockchain Terry USC Luna masari Micro strategy
"micro strategy" Discussed on The Breakdown with NLW

The Breakdown with NLW

07:24 min | 5 months ago

"micro strategy" Discussed on The Breakdown with NLW

"Today and use referral code breakdown to support the show. Fidelity is one of the world's largest financial service providers. It's also the United States single largest retirement plan provider. It manages the retirement plans for 23,000 companies. This week, fidelity announced that those retirement planners will have the option to put Bitcoin into their accounts directly. The product is called the digital asset account and will be a part of fidelity's core 401k. The account will hold Bitcoin and short term money market investments for liquidity purposes. The Bitcoin will be held in the fidelity digital assets custody platform. When the plan goes live later this year, savers will be able to allocate up to 20% of their four-o-one-ks to Bitcoin, although the plan sponsors IE the companies that fidelity works through can lower that threshold. Initially, they will only offer Bitcoin although they anticipate other digital assets will follow. David gray, who is the head of workplace retirement offerings and platforms at fidelity said, there is a need for a diverse set of products and investment solutions for our investors. We fully expect that cryptocurrency is going to shape the way future generations think about investing. For the near term and the long term. Gray also said that this came effectively from demand. We have seen growing an organic interest from clients, especially those with younger employees. Now, this is definitely forward looking for the retirement industry. Only a month ago in March, the U.S. Labor Department, which regulates company sponsored retirement plans, cautioned employers to quote exercise extreme care before they consider adding a cryptocurrency option to a 401k plans investment menu. Vanguard group which is a major fidelity competitor said that it quote has no plans to offer a cryptocurrency option within its 401k plans. On the website, the company says, since cryptocurrencies are highly speculative in their current state, Vanguard believes their long-term investment case is weak. The interesting thing to me is that ultimately I think fidelity here is making a play that while the buyer quote unquote of their programs may be the employers. Their real customers are the employees who are young, hip to this asset class and want in. There is another element of fidelity's calculus, which I think matters in the context of retirement. Is that as people are thinking about their retirement, they're also thinking about how they hedge how things might change in the future. I would venture to bet that the number of people who hold crypto with low personal conviction, but as a hedge because they see so many of their peers with genuinely high conviction is growing as well. If you're surrounded by people who are telling you that this is the next big thing and you just don't see it, but there's so many of them that do, why not put one or two or 3% of your retirement fund in just in case? Now in maybe the least surprising part of this news, it will be Michael saylor's micro strategy that will be the first company to take advantage and offer these new accounts. Sailor tweets, as micro strategy continues to be a pioneer in Bitcoin for corporations, we are planning to offer our employees the option to invest in Bitcoin as part of their 401k portfolio. Micro strategy looks forward to working with fidelity digital assets to become the first public company to offer their employees the option to invest in Bitcoin as part of our 401k program. Lin Alden writes some of the biggest pools of capital out there, like 401k plans, haven't been able to own Bitcoin yet. Fidelity is planning to add that access. I'm with her. I think this is a huge deal. One of the easiest sure, why not add a little adoption mechanisms we've ever seen? I also think that in our current context, the great resignation, remember, that employers are going to be looking for any edge to keep talent. Bitcoin and your retirement accounts may not seem like a big thing. But some companies will definitely see it as a tool to signal to their younger employees their Gen Z and millennial employees that they get it. And I think they'll be successful if they do so. A couple quick more stories to round this institutional episode out. Dragonfly has raised a new $650 million crypto focused venture fund. Two reasons this is relevant. First, it's just another example of something I keep talking about, which is that capital keeps flowing into this industry, despite the fact that prices are going sideways are down. Remember, when venture firms are well capitalized and when startups are well capitalized, it tends to make the bottom of a bear market less severe. It means that there is more capital to keep building even in those down markets. The stuff that gets built during those down markets it tends to be what drives people back into the space. But as always, the more relevant thing is who is investing. And for the sake of this show, does it extend to our idea of post narrative institutionalization? The short answer is yes. The investors in dragonflies fund include Tiger global, KKR, Sequoia, China, Ivy League, endowments, and vesco, top tier Capital Partners, and an undisclosed Southeast Asian state owned investment company among others. Multiple ivys with endowments investing in this space is what caught my attention. It was really big news when the first endowment started investing in crypto a couple of years ago, and this suggests that it's becoming a bit de rigueur. Another one, Goldman Sachs is apparently exploring the tokenization of real assets. Security tokens are back on the menu baby, but now they're called NFTs. Matthew McDermott the global head of digital assets at globin Sachs said at the Financial Times crypto and digital assets summit on Wednesday, we are actually exploring NFTs in the context of financial instruments and actually there the power is quite powerful. Clearly a quote taken from a live conversation. We could do a whole series of shows on the first wave of tokenized securities and what that meant and why they didn't go anywhere and what the appeal was then what it continues to be, but the point relative to this show is that this is another example of a firm just doing the web three thing rather than trying to make hay out of it. Now, wrapping this all up, I think it's important as we're talking about these bullish long-term institutional investor attitudes that we recognize that it continues to be pretty bloody in terms of short term institutional participation. We've seen a couple weeks of institutional outflows from crypto related funds. And even in the weeks that we've had some inflows, it's not like it's been a steady climb. Honestly, when you take this together with all of this actual adoption that we're talking about, it should make you even more bullish. These institutions aren't out there making huge hay getting pressed with their announcements. They're not doing massive fomo induced deals. They're actually building long-term infrastructure to be involved with Bitcoin and other digital assets, and getting ahead of what they clearly believe will be increased consumer demand. I think that's a pretty exciting thing, and clearly I'll be keeping an eye on it to share with all of you here. For now I want to say thanks again to my sponsors, next dot IO, arculus and FTX, and thanks to you guys for listening. Until tomorrow be safe and take care of each other. Peace. Hey breakdown listeners come join coin desks consensus 2022. The festival for the decentralized world this June 9th through the 12th in Austin, Texas. This is the only festival showcasing and celebrating all sides of blockchain, crypto ecosystems, web three, and the metaverse, and is designed for crypto newbies, investors, entrepreneurs, developers, and creators. Don't miss speakers like Kathy wood, SPF, CZ, punk 6 5 two 9 and Joe lubin to name just a few. Use code breakdown to get 15% off your pass at coindesk dot com slash consensus 2022..

Bitcoin fidelity U.S. Labor Department Vanguard group Fidelity Michael saylor Micro strategy fidelity digital Lin Alden David gray Tiger global vesco tier Capital Partners Gray Matthew McDermott globin Sachs United States
"micro strategy" Discussed on WTOP

WTOP

01:59 min | 8 months ago

"micro strategy" Discussed on WTOP

"Offered at renewal based on all rate of drivers on policy discount may vary by state or life of policy in Virginia and driving discount is up 20% for renewals before August 23rd 2021 and up to 30% of her after the United services automobile association and its affiliates San Antonio Texas Money news at 25 and 55 with Jeff claiborne Mark the thou is down 495 points That's another one and a half percent loss the S&P 500 Index has pulled back to a three month low It is now just over 10% and in correction It's off 2% this morning the NASDAQ is down another 323 points right now That is two and a third percent Bitcoin continues to slide $130 billion has been wiped off crypto markets just in the last 24 hours Bitcoin is now 50% of its eye That's hurting a local company Tyson's based micro strategy is one of the largest holders of Bitcoin and estimated $5 billion worth micro strategy stock is down 10% this morning These attorney general Paul Racine is one of four attorney generals suing Google claiming its deceived users about tracking The suit says it led users to believe that turning off location history would stop Google tracking but it does not all by itself Jeff label WTP news All right Jeff it's ten 56 Hi it's Rita Kessler Many of you have followed along with my weight loss journey with co pair formally EMP one 80 When I started almost two years ago we were in the middle of COVID lockdown I wasn't quite sure it was the right time to get started Almost 60 pounds later I can tell you it was Believe me starting is the hardest decision you'll make but it was also the best decision I've made Coper is different than other weight loss programs because of the personalized coaching My coach Vanessa is a big reason for my success at the point in other programs where I'd start gaining back the weight She helped me to not only not gain but to maintain my weight loss I look forward to my chats with.

United services automobile ass San Antonio Texas Money news Jeff claiborne Mark Bitcoin micro strategy Paul Racine Jeff label Rita Kessler Virginia Tyson Google
"micro strategy" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:44 min | 9 months ago

"micro strategy" Discussed on Bloomberg Radio New York

"That shock to impact the Bitcoin ecosystem here in the United States one of the interesting things that we've been talking about is the talent flow out of cryptocurrency companies because U.S. regulation has remained so unturned uncertain and there are these draws to big tech and other companies that frankly have potentially more certainty Do you think that will have a negative impact on the industry and the enthusiasm that we've seen over the last couple of years Well I think that the China crackdown was the best thing that ever happened to Bitcoin because the entire Bitcoin mining business moved from China to the U.S. and the U.S. became the world leader in Bitcoin mining So I think that was a good thing I think in fact regulatory certainty became clearer for Bitcoin that the crypto world outside of Bitcoin is waiting for clarity on stablecoins and DeFi and security tokens But on the other hand the Bitcoin world is all about digital property And we got that clarity The clarity we got was support for Bitcoin from the Senate from Congress from the regulators And the acknowledgment that Bitcoin is digital property and part of the western technology stack It's going to be critical to the support of and the spread of the American values and western technology just like the English language just like the U.S. dollar just like Google and Amazon and Facebook and Microsoft And so that China crackdown was a good thing for Bitcoin Michael saler cofounder and CEO of the software company micro strategy Coming up the first Bitcoin ETF will tell you about this.

Bitcoin U.S. China Senate Congress Michael saler Amazon micro strategy Google Facebook Microsoft
"micro strategy" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:32 min | 1 year ago

"micro strategy" Discussed on Bloomberg Radio New York

"Bitcoin higher helping software company micro strategy which has a lot of crypto on its balance sheet And here with that really interesting story is stocks editor Dave Wilson Yeah absolutely What's front and center here is the idea of the first Bitcoin futures exchange traded funds And the keyword is futures because they're going to be tied to contracts that are already listed They've been out there since the end of 2017 And so when you have that kind of development I mean you see cryptocurrency move higher Bitcoin just above $60,000 today Now the question then becomes who stands the benefit and the biggest beneficiary really is micro strategy Start out as a business software maker in the past year and a half or so They have really become a Bitcoin investor In fact their CEO Michael sailor had a tweet out today say Bitcoin is the new gold And they've certainly kind of served their business that way In fact you know they spend a bit more than $3 billion on the currency they even borrow the buy some And they've made more than three and a half $1 billion on that investment In fact it's close to half this company's market value can be traced back to its Bitcoin holdings So it really has been a beneficiary Other companies are certainly going that route None of them is aggressively as Michael strategy though so none of them stand a benefit quite so much from this move into Bitcoin ETFs specifically the Bitcoin futures ETFs and the effect on that digital currency Yeah who needs to sell software after all Thank you so much to Dave Wilson for that report Coming up we get the latest.

Bitcoin micro strategy Dave Wilson Michael sailor Michael
Bitcoin Prices Fall After Plunging During El Salvador Rollout

Squawk Pod

01:06 min | 1 year ago

Bitcoin Prices Fall After Plunging During El Salvador Rollout

"Bitcoin prices. That was wild yesterday at one point. Ten thousand after breaking through fifty two thousand late. Monday got his lows about forty two thousand el salvador adopted. Bitcoin is legal. Currency tumbled as much as sixteen percent. Right now i saw it this morning around. Forty six thousand. The country temporarily disabled chievo. That's the government run bitcoin. Wallet to increase the capacity of servers and crypto adjacent stocks also fell that's term including big drops from micro strategy and coin base and ether also fell sharply yesterday continues to slide this morning. There were protests in el salvador. A lot of young people that they were more protesting against not having a say in work and how it was adopted. When you decide you're going to do something and then demand closes down the wallet. I don't know whether it was just that they weren't ready but they seem to say that there was so many people trying to do it that they couldn't that they couldn't do

El Salvador Bitcoin
Can a New Wave of Crypto IPOs Rekindle Wall Street Excitement?

The Breakdown with NLW

02:00 min | 1 year ago

Can a New Wave of Crypto IPOs Rekindle Wall Street Excitement?

"Anyways today. We're discussing the robin hood. Ipo and the circle ipo and whether they can get wall street. Stoked on crypto again. So first let's talk some background. In retrospect the coin base ipo as the top sort of looks super obvious right base ipo on april fourteenth and the bitcoin all time high depending on your exact source came within around twenty four hours of that event there was an extraordinary amount of hype around this which by the way is technically direct listing. Not an ipo. But either way there was a ton of hype and it's because in many ways it wasn't just a single event. He was the culmination of an entire narrative which had been driving the industry for upwards of a year that point. Bitcoin had surprising resilience post black thursday crash in march twenty twenty hedge funds. Particularly paul tudor jones start to notice and explicitly identify it as a good trade in the context of massive global money printing. And this wasn't hard to understand right. It was an incredible moment to c- bitcoin supply issuance pro grammatically have had the exact same moment as central banks were getting comfortable with bigger balance-sheets than ever and by the way paul tudor. Jones wasn't even close to the only hedge fund who bought into this narrative by late summer. Early fall some others like stand druckenmiller. We're going on cnbc to say so as well and turn michael sailor and the bitcoin treasury bat and all of a sudden there's an additional dimension to this institutional by narrative other companies like square follow. Suit some really unexpected players. Come in as well like mass mutual's one hundred million dollar bitcoin. By which is where many of you probably. I heard of a breakdown sponsor night dig all of this creates an incredibly strong clear narrative picture going into the holiday in the new year. And then we get alon tesla's one point five billion dollar. Bitcoin treasury by dwarfs at least the initial by of micro strategy and we really off to the races and then coin bases listing is announced and it seems like the combination of things a major truly legitimising company from the crypto space moving into public markets

Paul Tudor Jones Robin Hood Paul Tudor Bitcoin Druckenmiller Michael Sailor Cnbc Jones Alon Tesla
What an Increasingly Booming Economy Means for Bitcoin

The Breakdown with NLW

02:07 min | 1 year ago

What an Increasingly Booming Economy Means for Bitcoin

"What's going on guys. It is thursday april twenty ninth and tenth day we are asking the question of what an increasingly booming economy means for bitcoin. So the setup for this. Is that obviously for. Bitcoin and bitcoin has always been a macro asset in the sense that it is fundamentally about reorganizing the global economy in some way when it comes to the rest of the world however it's really only been in the last year that that idea of bitcoin as a meaningful player on the macro stage has come to the fore. The connection was made first and most profoundly by. Paul tudor jones with his great monetary inflation thesis. And since then. Bitcoin has been tied up in its digital gold narrative as an inflation hedge. Right there's no way to deny looking at micro strategy getting in and michael sailor talking about the melting ice cube of cash as a treasury reserve asset and stanley druckenmiller seeing five to ten percent inflation over the next few years. There's no way to deny that bitcoins. Narrative has been tied up in the fear of looming inflation. The question then becomes. What if that starts to withdraw. What if the macro narrative shifts. Where does that leave bitcoin so today. That's what we're going explore. And i think the start. Let's start with this idea of it. Being a booming economy one of the wall street journal's lead headlines today is. Us economy appears to be lifting off. Economists are projecting a quote robust consumer led recovery. Gdp grew at six point. Four percent seasonally adjusted in q one which is almost exactly what economists had predicted. What's more consumer confidence is approaching pre pandemic levels. In fact it's the highest. It's been in fourteen months and it's done nothing but increase for months in a row in particular a low income band people and families earning between twenty five and thirty five thousand dollars. A year has increased dramatically in march. Nine hundred thousand new jobs created an unemployment went down six percent.

Bitcoin Paul Tudor Jones Michael Sailor Stanley Druckenmiller Wall Street Journal United States
Tesla's Bitcoin Selling Is More Than Digital Gold

The Breakdown with NLW

01:35 min | 1 year ago

Tesla's Bitcoin Selling Is More Than Digital Gold

"What's going on guys. It is tuesday april twenty-seventh and today we are talking about why you shouldn't be stressed about elon. Musk selling two hundred and seventy two million dollars in bitcoin yesterday. Oh whoa of woes. We were betrayed like benedict. Arnold come back to life to give away the heart of our country like the red wedding. Game of thrones but even more violent. We were betrayed. At least that's what you would have thought looking at. Bitcoin twitter yesterday but to understand this. We need a little bit of context. This entire leg of the bitcoin bull market was sparked by tesla's february announcement of one point five billion dollars of bitcoin treasury. It also gave us one of the most iconic a bitcoin space. In retrospect it was inevitable. It put the world's richest man and the internet's most prolific memes ter- in our corner it gave other massive corporations some pause that perhaps it wasn't just a micro strategy doing this bitcoin treasury thing. Of course tesla buying bitcoin. Also flared up some additional tensions. Climate fudd has been significantly worse since the announcement instead of seeing ilan's involvement as evidence that bitcoins energy impact has been overstated and fearmongers. It instead proved to be confirmation too many that ellen has been full of crap about his commitment to the environment from the beginning you on. Musk is in spite of his great wealth. A highly controversial

Elon Musk Tesla Benedict Arnold Twitter Ilan Ellen
Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

The Breakdown with NLW

04:19 min | 1 year ago

Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

"What's going on guys. It is tuesday february sixteenth. And today we are talking about. You know it fifty thousand dollar bitcoin and specifically whether it's shows that we are in a bitcoin super cycle so i the news after a week or so of threatening the rubicon was breached this morning between seven forty five and eight am eastern time. Bitcoin punched up above fifty thousand. Now it immediately met cell wall and had a six hundred dollar candle down in is at the time of recording closer to forty nine thousand but to me that technical response is far less significant than these psychological barrier of a fifty thousand dollar being breached so today's special early breakdown is all about that. I reached out to followers this morning. Asking what topics you all thought were important for a fifty k. Show i also popped into a couple of different clubhouse chats to see what people were focused on and overwhelmingly across both of those mediums. The thing that people wanted to talk about is whether this is another indicator that we're in a bitcoin super cycle. I'm going to discuss this. It's going to be the main focus of the show. What the idea of a super cycle is where it came from what it might mean and some different ways to look at it but first let's blast through a few of the other topics folks wanted to disgust. Let's try to start with something that if not negative is sort of dismissive to be honest. It's kind of hard to find those bitcoin stomping face but here we are peter. Brant tweeted fifty. Thousand is a nice round number. That means absolutely nothing. Technically trying to sound smart just sound smart helps to define dumbness now. Let's contextualized. Peter is speaking to a trading audience and that trader audience are not supposed to in their own estimation get emotionally invested in an asset or let narrative shape. What they do. So let's give peter the benefit of the doubt and assume that that's who he's talking to however if he is truly arguing that technicals are all that matter about an asset. The easy rejoinder is that markets are by their very definition a constant give and take between narratives and technicals and frankly narratives tend to reshape the bounds that frame the upside and downside potential of those technical indicators either way for the sake of completeness i wanted to include something sort of negative but i think we can move on next. Let's discuss michael sailor. Just doing michael sailor things about five minutes before fifty thousand was breached. Sailor dropped a new press release from micro strategy long story. Short micro strategy is offering another six hundred million in debt and all the words of the press. Release our legalese. Except for this. Little line micro strategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins. Pomp summed it up perfectly when he tweeted. Michael sailor is carrying out one of the highest conviction investment thesis we've ever seen in public markets. Incredible to watch okay next. People are wondering how this happened. Or why will. I think the wise a little obvious. We saw an insane amount of positive news last week. Tesla b. and y. Mellon mastercard twitter. Deutsche bank morgan stanley. Every show for the last week has been about some type of crazy positive news. If you've been listening it's hard for that amount of positive news to not have an impact in other words. The specifics of win this fifty thousand dollar price was going to happen. Are for those technicals. That i was mentioning above to figure out but the overall momentum has clearly been in this direction. This actually gets me to another point. I was trying to articulate on twitter. We have this linear time bias. That when things happen quickly we tend to feel like that the thing that was before the you're comfortable with was the correct thing versus the new thing and the new change. That happened really fast. In other words. Bitcoin was between ten thousand. And fifteen thousand for a really long time so fifty thousand seems overvalued but what if instead based on what we now know. Bitcoin was in fact radically undervalued for that. Same ferry long time.

Michael Sailor Bitcoin Peter Brant Deutsche Bank Morgan Stanley Mellon Tesla Twitter Mastercard
Is Tesla the Tip of the Bitcoin Iceberg?

CNBC's Fast Money

03:47 min | 1 year ago

Is Tesla the Tip of the Bitcoin Iceberg?

"Tesla announcing today bought one and a half a billion dollars. The crypto currency tested saying it made the purchase for the ability to further diversify at maximize returns on our cash. The news sending tesla shares higher by more than a percent in bitcoin to its highest level on record so tonight we start the show with a simple question. Why why should tesla go up on this news. Why should bitcoin go up by fourteen and a half percent on this news guy. When you say well you've seen it before. We saw with micro strategies. I mean that was i think. One hundred and seventy five dollar stock prior to the offering that they did michael sale. Obviously being the ceo there. I think the stock closed over a thousand dollars today. So you know the why answer is because that's what the markets geeked up for and that's the way the market's been trading. We've seen a number of different security so to a certain extent makes and as long as bitcoin does. This grind higher those stocks will probably go up exponentially exponentially but maybe to a magnify of a one and a half or so times but it works on the downside as well. I have no idea what bitcoin is gonna do. But if we do that. Back and forth at twenty thousand that micro strategies now thousand dollars. It's probably a six hundred dollar stock. And maybe you see similar in tesla. My biggest problem is not the fact that these companies are doing it. i think. Publicly traded companies with board approvals and shareholder approval should be do anything they want in the confines of the law. It's sort of this game if occasion. You know it's elon. Musk putting on his twitter account and a bitcoin emoji. Whatever the young and say. And i'm not trying to get off my lawn. Okay boomer stuff. But i think there's i think there's a danger associated with that. He's the ceo of one of the ten largest companies in the world. I think with that heavy as ahead wears a crown. And i think he's got to think more of those things it can't just be willy nilly in my opinion. I think that's an interesting point to make but yuan. Musk had demonstrated his propensity for bitcoin. Back in december so arguably. He was driving up the price of bitcoin as the company was buying. It's not exactly you know helping his own company in terms of establishing that one and a half billion dollar purchase in terms of participating to the upside it's more so participating to the downside karen. When i heard this news i i reached out to you. Because you pro- the accounting of this and it's very interesting. Test is not necessarily a bitcoin proxy for in terms of the way it's accounting for this bitcoin purchase. No it isn't in the accounting of it says that you have to market at the price you bought it unless trades down then the market at that price. But i don't think shareholders are gonna care about that. i think they just like the idea of it I don't know when he bought it. It's sort of fascinating to me. But i do think it's actually a big deal when we talked not that long ago about the idea of investors finally feeling like they can be comfortable having some exposure to cryptocurrencies to bitcoin. That was sort of a big move it. I and there's a lot to go in that. I think we were at the very beginning of that here. S and p five hundred companies with the cash on their balance sheets contemplating using some of that to buy bitcoin. He also mentioned potentially gold and gold. Etf's in the tesla released. But that's kind of amazing to me as well so we haven't even seen yet the institutional buying come through at all i don't know if every s and p five hundred. Cfo's going to want to do this. They've been pretty conservative for a pretty long time. Buying gold wouldn't have seen that crazy. And yet i don't think very many of them did it so i mean i'm long so i'm glad it's trading up it. I do think what could go wrong from here. I don't know maybe a tad frost

Tesla Musk Bitcoin Michael Twitter Karen
The Big Stories in Crypto in 2020

Unconfirmed: Insights and Analysis From the Top Minds in Crypto

02:22 min | 1 year ago

The Big Stories in Crypto in 2020

"Into that. Let's just look back at the similarly. I think actually really significant year. In crypto for twenty twenty like. What would you say. Were the big story that year. I mean if you look at the data you have a number of big Stories for twenty twenty right. The growth of the stable point market seeing a supply above five billion trading volumes. Routine all time high monthly high in the month of december. We put out a lot of Figures around trading and will coins in the past few weeks and so you just saw the growth of the market and the build out of a more robust market structure. So i think that's kind of like the high level overview of twenty twenty and i think that's why investors right now are getting so excited about what twenty twenty one holds because you have this this growth story from the year prior so i think people are really excited. And you're right it's going to. It's going to be interesting to continue to watch. That's for sure. Aside from price just the for the development of the market. Yeah yeah my two big takeaways. I think we'll see. I think partially because of the pandemic bitcoin. I think just like the big story last year. You know. I mean You know we just saw. I feel like kind of a new type of person who was acknowledging what its merits were and getting in and then of course you know the big news. Things like pay pal micro strategy and square and mass mutual pudding. Bitcoin on their balance sheets. I you know. I don't know if those things would have happened even without the pandemic but given what the state of the world was definitely feel like all those forces came together to create the perfect conditions. Yeah i wild though. It took a little bit of a while you know i remember. At the beginning of the pandemic in march when everything was falling crypto and beyond folks were kind of thinking that maybe crypto bitcoin specifically wasn't living up to that's safe haven characteristic that so many folks have attributed to it and so you know i think once we had the poulter jones note news. Come out you kind of saw those dominos fall with more investors more hedge funds and then actual publicly traded companies in in some cases announcing that they'd be allocating to the space. And so it's it's been interesting to

"micro strategy" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

04:52 min | 1 year ago

"micro strategy" Discussed on The Peter Schiff Show Podcast

"The stock should be by micro strategy and in fact. I was reading this article where they're talking about that. Grace scale and micro strategy are in this race to see who can buy the most bitcoin. Well i can understand. Why gray scale is buying bitcoin. Because it's a bitcoin trust. It's supposed to buy bitcoin. Micro strategy is a software company. It's not supposed to buy bitcoin. But now he's turning it into some kind of bitcoin. Atf but of course you know. The reality is in the race to buy the most bitcoin. Whoever does by the most. Bitcoin loses because the more bitcoin. You have the more bitcoin that you're going to lose now. I know that all these bitcoin promoters are trying to say that companies like micro strategy right. These are the four runners. This is the smart money. These are the visionaries. These are the early adapters that all the other institutional money is going to follow and this is just the beginning. This is the first step and you're going to see a lot more. i. I read an article today. That massachusetts mutual put one hundred million into bitcoin. And so they're pointing out. You know you have a few examples where some of these companies have somehow got suckered into testing the waters. You know again. It's just like with the ipo they get enticed they see these big returns and get excited and they get greedy and they wanna put some money in there because they want to get in on the action they want to get in a party. These are the late. Comers these are the bag holders. There are not a lot of institutions and ultimately arguing to come into this space. They're they're never going to touch it. And i think any of them the do i think any serious money. Any pensions or endowments or mutual funds. Radio that any managers that go into this. They will seriously regret this decision. It may end up being a career killing decision. They may end up losing their jobs because they were foolish enough to get into this bubble. That's what i think is going to happen. But i also think that. This downgrade of micro strategy to a cell could be very problematic for bitcoin and in fact bitcoin did pull back on the news. Along with micro strategy. It traded back down below eighteen thousand yesterday..

Micro strategy Bitcoin Atf massachusetts bitcoin
Tahinis Restaurants Puts It's Entire Cash Reserves Into Bitcoin

The Cryptoverse

07:29 min | 1 year ago

Tahinis Restaurants Puts It's Entire Cash Reserves Into Bitcoin

"I think is this. Is chris coney speaking welcome back so you guys might have seen michael salo over the news media outlets recently. The ceo micro strategy You might be familiar with this already. So i'm not going to reiterate. The whole thing is about micro strategy put in most of that corporate cash reserves into bitcoin and then they make a business case for that so yes. We all familiar with that. We were just waiting for that first. Domino to start hitting and snowballing to other companies which is now happening. I was just browsing the old twitter as i do and chemicals this tweet from to heaney's restaurants who basically have just done the same thing and they have this tweet storms. I'm going to read out to you as to why they've done. What's microsoft's don as well now to heaney's restaurants. I've never headed them. But as far as i can tell. A canadian based company is a franchise of mediterranean restaurants. So that we go thus thus who. Who's talking here. So if you want to follow these guys check the tweets out. It's at the real to heaney's which ta h- h. I n i s to heaney's the real to heaney's that's the twitter handle so check this out. This is from the first of december. This was yesterday at five pm. Uk time so it says we converted our entire reserves to bitcoin in august. Twenty twenty. and since then we've been ridiculed and cold irresponsible fools in our community our reserves in dollah. Tam's doubled since then. Here's why we continue to buy bitcoin forever. Time for a threat. So festival says right that they did in august. Why is it took me this long to hear about it. Have you guys head about this already. Let me know if you already had about this book. This is the first. I've heard about it. And that's what august. September october november four five months ago. They did this. Maybe they just didn't say anything and didn't wanna say anything but it sounds like 'cause we've been ridiculed for it. Well they must've told somebody that follow is all the clients customers knew about it but i didn't say that we got so he goes the tweet storm the first thing they say is our current macroeconomic environment implies that there's going to be a ten to fifteen percent expansion twala monetary supply every year for the next three to five years in breakfast or more assets are going to inflate. Bitcoin is digital gold. And it's going to have the highest real yield because tween You can't pick any more of it old. The other investments are overvalued trades bonds our ethical stocks are grossly valued. Gold is a shitty says shitty store value that debases by two percent a year. Gold is a twenty twenty scam. You'll see governments and institutions pumping it to dump on retail investors who are misinformed because bitcoin is a thousand times better across all aspects. All these investments have some upside and more downside. In our opinion there is no way for the average person to get an etch. Bitcoin hasn't asymmetric proposition. You can get an edge here because it has a history that scared most people away. It hasn't been embraced by all the institutional community. That's changing fast. Now if you confront run this will this shift. Then you have an edge. It's being traditionally difficult to buy an old people can't pick up the phone and buy it if you go through the trouble of how to acquire insecure. It's that will give you an edge. It has all the technology upside of apple. Google facebook and amazon combined from a decade ago. And you saw what they did over the last decade. I get tweet namik says bitcoin is the so. That's a that's a combination. The fast fiber didn't i didn't segment in the b- go twenty six as they go on. Bitcoin is the successful successful digital monetary network. If you come into it right now you'll coming in at least so you're coming in at three hundred and fifty billion market cap. And it's unstoppable at this point so it makes sense to be at the ailey to this threat. Trend bowed pony trend. No threat as the price goes up. The value of the offering goes up because liquidity is the value proposition. This is an example of something where the higher the price the mo- value. We get the more people want to have it. And the more robust against this is not true with a stock as the price of a stock goes up it dilemma from its cash flow and it's p. price-to-earnings ratio goes from twenty to forty to sixty to a hundred as with many things as the price goes up. The risk gets higher with bitcoin. As the price goes up the gets lower. It's such a simple beautifully engineered. Winder that doesn't have all the competitive risks that so many other things have because it is so very simple is just twenty one million gold coins in cyberspace which divide all of the competitors. Bitcoin is the winner. They go on by one or a fraction of one and as people adopt the network value proposition increases as the technology gets better. The value proposition increases and his people like get more productive. They'll swap more cash flows into it and the value proposition increases. They go on to say and essential banks print more money. The value proposition increases again. That's just an elevator pitch. The bitcoin rabbit hole goes a lot deeper. If you're interested dilemma. Let us know we would like to thank the cyber hornets. The honey badges the huddle as the maximalists the developers and the good economists without them we would still be in the duck. Educate yourself look is when knowledge meets opportunity also followers for some amazing content. So they we got. They don't specify in this tweet stone. Exactly how much money into has millions of dollars they put into. Bitcoin as reserves micro strategy did actually say how much they put in. All this says in the fest we is. We've converted our entire reserves to bitcoin. So you know. One hundred percent of their reserves. So i suppose that means more doesn't it. What proportion of the company's assets will preserve the cash reserves. They put into bitcoin not the amount. 'cause if micro strategy said we've bought five hundred million dollars worth of bitcoin and that was only ten or twenty percent of their their reserves. It would make me less than putting all right. So i think that's a good metric. What proportion of the companies reserves not. How much money do they invest in it. Because that's more this objective risk that the company is taking rather than the objective value placed on the stack of money right so that we got restaurants the next company to put all of the business currency reserves into bitcoin. Who's going to be next. Who do you think's going to be next. Let me know.

Heaney Bitcoin Chris Coney Michael Salo Dollah Namik Domino TAM Gold Mediterranean Microsoft Twitter UK Winder Amazon