The madman. The absolute madman. Just when you thought he was done, MicroStrategy’s Michael Saylor announced this week that the company was offering up to $400m in convertible debt in order (of course) to go buy more bitcoin.
Then it went up to $550m based on demand.
Then it went up to $650m and closed.
Yes, MicroStrategy has raised $650m with the express intent to go buy more bitcoin. This will bring their total spend on bitcoin over a billion dollars.
This isn’t the ETF we want, but maybe it’s the ETF we deserve.
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Highly Relevant Reading
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The big question
This is a fun test!
Larry Cermak @lawmasterLet’s make this more interesting. The smartest people are so far getting 72 to 73 out of 75. The first person that gets 100% without cheating gets a free subscription to The Block Research for a year. The time to completion can’t be more than 10 minutes
A Really Big Number We Should Be Paying Attention To
That’s the number of wallets with more than 1000 BTC, a 17% increase from last year
We do sound like that.