2024

Bitcoin

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Have you ever wondered what you would ask MicroStrategy's CEO if you were to meet him in an elevator?&nbsp;
In a recent <a href="https://x.com/saylor/status/1838921732276576297" rel="noopener noreferrer nofollow">social media post</a>, the business mogul made it clear that he would want you to ask him about buying even more Bitcoin.&nbsp;
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 How do we buy more <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a>?— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1838921732276576297?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 25, 2024</a>
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As reported by U.Today, Saylor announced MicroStrategy's latest Bitcoin purchase of more than $458 million on Sept. 20. The company's holdings currently stand at more than a quarter million coins. MicroStrategy has now spent nearly $10 billion on its Bitcoin purchases.&nbsp;
The company uses proceeds from its debt offerings in order to buy more Bitcoin. The company issues bonds that can be converted into stock at a later date. Alternatively, bondholders can opt for cash.&nbsp;
Prior to the recent purchase, the business intelligence firm managed to raise more than $1 billion via its security notes offering.
<h2 id="how-risky-are-saylor-s-bitcoin-bets">How risky are Saylor's Bitcoin bets?</h2>
In June 2022, there was some speculation about MicroStrategy potentially facing margin calls due to the price of Bitcoin collapsing to the $20,000 level. However, this was not the case.
Even though Bitcoin reached a new record high earlier this year, there are still some concerns about the company's gargantuan Bitcoin holdings.&nbsp;
MicroStrategy is not going to face margin calls since its debt is actually not linked to Bitcoin as collateral. However, there is still a risk of the company eventually failing to meet its debt obligations if the cryptocurrency experiences a massive correction.&nbsp;
Bitcoin is currently trading close to the $64,000 level, according to CoinGecko.

Bitcoin Evangelist Saylor Wants You to Say These Words in Elevator

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