Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: pawel7777 on April 20, 2024, 05:26:24 PM
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https://www.cnbc.com/2024/04/19/bitcoin-bull-michael-saylor-made-370-million-from-microstrategy-sales.html
So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
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Was all his talk about accumulating Bitcoin forever and never selling just an act?
It's to hype the community man, to hype.
What do we expect from a business and a businessman. If they just accumulating bitcoin they won't get loss and profit technically that's why they need to sell their holdings in scheduled way to make profit, it's only a matter of when. Probably they done it when bitcoin reach 70k or new ATH.
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So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future, he might be selling for profit because he sees some dumping that's going to happen, I'm sure he will be buying Bitcoin again at the right time for profit, business and entrepreneurs are like that, they create hype and easily make a quick decision when they see an opportunity for profit.
I'm sure he'll start to accumulate again.
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So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
We don't have any information about Saylor's purpose for selling MSTR, however the biggest speculation is that he will use the £370M to accumulate more BTC as Saylor is known in the crypto market as a BTC diamond hands. I hope we will have more information soon regarding this when Saylor officially announces the BTC purchase. Unfortunately, we only know the BTC address of MicroStrategy but not the BTC address of Saylor to track and confirm.
Anyway, this should also be seen in a positive light. I don't think Saylor knew anything negative about the BTC price and sold MSTR out of fear that the MSTR price would be affected by future BTC price fluctuations.
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So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
People care to much about Saylor and what he is doing with Bitcoin.
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.
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So, apparently, Michael Saylor has unloaded 400k of his Microstrategy shares, which, at this point, are largely backed by BTC and could be used as a proxy for investing in Bitcoin.
What do you take of it? Was all his talk about accumulating Bitcoin forever and never selling just an act? Or was he genuine but just wanted to cash out with ~£370 millions for whatever reason?
Somehow I don't think he'll be buying bitcoins with his proceeds.
People care to much about Saylor and what he is doing with Bitcoin.
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.
Lolz, you are afraid that one day, they might decide to dump it all on all of us who are small investors, which in effect will drag the price of bitcoin significantly down, forcing the price of bitcoin to possibly go down below our entry points?
Exactly same thing I usually think too, but I guess all we need is for bitcoin to become really big, with tens to hundreds of trillions of dollars in marketcap, and tens to hundreds of trillions of dollars in daily trading volume, when bitcoin have grown to this stage, we possibly will not have to bother or worry about people or companies holding hundreds of thousands of bitcoin again, since even if they sell, the effect on the market won't be significantly felt.
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(...)
We should not expect from him to always buy bitcoin and pump the price, he needs to take some profit after he invested a lot in this shares.
I dont like any company or person that holds so much bitcoin like MicroStrategy does.
100% true and I'm not making judgements on the guy. He's free to do whatever he wants with his money, and sometimes you have to cash out, to pay bills/taxes, make purchases etc.
But for someone who has been preaching so hard against selling bitcoins and (if my memory is not mistaking me) even publicly suggesting taking loans to acquire bitcoins, selling such large amounts of bitcoin-tied-stocks, can be viewed as dishonest.
And it doesn't reduce the amount of bitcoins held by Microstrategy, it just changes Microstrategy's ownership structure.
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Why would this labeled as FUD?
It's a fact, that he asked for approval and issued the shares that were released to the market, there is no doubt or uncertainty in it at all.
MicroStrategy is not a charity Saylor is not Jesus, they both have only one objective getting as much money as they can, if you think they will keep buying and buying and not even one take profit and leaving others to pump money in this you're daydreaming.
He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future,
(https://www.talkimg.com/images/2024/04/20/j98Id.jpeg)
If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
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At some point he will sell. In the end, Michael Saylor does not invest in Bitcoin for charitable purposes, but a profit, and when there is an opportunity for a profit that he will take advantage of, so it is natural that he sells his shares if he sees that it has achieved a suitable profit, but why now? It is true that the price has risen well, but it is still far from 100 thousand dollars and there is a good possibility that it will double during the next 12 months, meaning that the time now is not perfect for sale.
Therefore, either he is forced to sell, or there are bills that must be paid, or he wants to use them to buy more bitcoin.
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Whatever he will do with his money is his own personal business and with that the market should not really care. People like Michael Saylor is in the crypto business to make the most money they can and because of this they should not be regarded like the standing hero for the industry. We know that Michael Saylor has become a very popular figure for things Bitcoin and he is a big influencer that can practically move the direction of the market if he wants to...so he is therefore a whale whose slight movement left and right can have repercussions in the market. Sadly, this should not have been because Bitcoin is of the people and should stay as such. One big reason Satoshi Nakamoto left on the scene is so that there will be no central figure that may command the direction of the decentralized platform he help invent and yet we heaped on some figure the influence which should not be, in the first place.
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~snip~
If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
If by some chance he had coffee with Tim Draper and listened to what he thought about BTC at that time, he might have bought at that price. I think Draper bought those 30 000 BTC exactly at the price of $600 per BTC.
However, Saylor had some really strange thoughts at that time, because although I don't blame him for doubting Bitcoin (few didn't think so in 2013), he thought the same about online gambling. People have been gambling since the beginning of time, and the internet has taken the whole thing to a new level.
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He's not a Crypto billionaire for nothing he is a profit-driven business business-minded guy who has an insight for the future, he might be selling for profit ...
This is inconsistent with what he advocates: borrow against your premium assets, never sell them.
We don't have any information about Saylor's purpose for selling MSTR, however the biggest speculation is that he will use the £370M to accumulate more BTC as Saylor is known in the crypto market as a BTC diamond hands. I hope we will have more information soon regarding this when Saylor officially announces the BTC purchase.
I think that's the only logic I could see to this. Let him sell the shares to buy with the money from the sale bitcoin for himself. But time will tell if you are right.
Why would this labeled as FUD?
It's a fact, that he asked for approval and issued the shares that were released to the market, there is no doubt or uncertainty in it at all.
Well, in principle it is not FUD because it has not sold bitcoin, it has sold the shares, but the shares of a company that is basically a derivative, leveraged product of bitcoin and where the business intelligence (BI) application software vendor part weighs less and less.
So, if he advocates that with bitcoin you never sell and that you do as the very rich do and instead of selling their assets they borrow against them, this move seems incoherent, unless it is because of the theory mentioned by MrSpasybo.
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Therefore, either he is forced to sell, or there are bills that must be paid, or he wants to use them to buy more bitcoin.
The same as before, it is inconsistent with what he advocates and it makes no sense that a person who advocates borrowing against your assets would be 'forced' to sell to get
$370 million when his net worth is 10 times higher. He should have no problem borrowing such an amount.
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~snip~
If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
If by some chance he had coffee with Tim Draper and listened to what he thought about BTC at that time, he might have bought at that price. I think Draper bought those 30 000 BTC exactly at the price of $600 per BTC.
I was curious about that but yeah, Draper bought at $600.
About Saylor's decision, I'm not that surprised, most people who are in business and like to talk as much as he does are not good listeners at all, I'm still on the opinion that the only thing that convinced him about Bitcoin was the smell of money!
Well, in principle it is not FUD because it has not sold bitcoin, it has sold the shares, but the shares of a company that is basically a derivative, leveraged product of bitcoin and where the business intelligence (BI) application software vendor part weighs less and less.
I'm starting to think that FUD should have a different meaning in the crypto world. More like: Things I don't like!
I've seen numerous facts, things that are written in stone, labeled as FUD just because they were bad for the price or were simply bad news as it happens in every sector of the economy.
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I will do the same if I was him, because those bitcoin that he sold are his profit, and I don't see anything bad in doing that. We are all investing so that someday we can enjoy our investment by taking profit. Or is there anyone who love to pile up his bitcoin and die without taking profit. That is the worst because we need to enjoy from the fruit of our labour.
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I think not everyone will hold their BTC permanently for investment, because in every life there will be financial ups and downs, in the case of Michael Saylor releasing his assets, let's just say he was in urgent need of money so he was obliged to sell his assets which quickly made a profit even though there was a slight loss.
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I will do the same if I was him, because those bitcoin that he sold are his profit,
He hasn't sold bitcoins he sold shares in Microstrategy, it's even in the title!
he was obliged to sell his assets which quickly made a profit even though there was a slight loss.
There was no loss whatsoever, he had those shares since he founded the company, but let's ignore that how can you make a quick profit selling at a loss?
Common, how does this make sense?
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~snip~
If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
If by some chance he had coffee with Tim Draper and listened to what he thought about BTC at that time, he might have bought at that price. I think Draper bought those 30 000 BTC exactly at the price of $600 per BTC.
I was curious about that but yeah, Draper bought at $600.
About Saylor's decision, I'm not that surprised, most people who are in business and like to talk as much as he does are not good listeners at all, I'm still on the opinion that the only thing that convinced him about Bitcoin was the smell of money!
That information is something I remembered, although many years later I found out that he used those same BTC as an investment in some kind of project whose name I can't remember now. Therefore, the question is whether that investment paid off for him in the end, as it would have paid off if he had just kept them for a few years, given that in 2014 he publicly stated (and guessed) that the price of BTC would reach at least $10 000 in three years.
Yes, there should be no doubt that the smell of money was stronger than the strongest doubt about whether Bitcoin is something good or bad. So far, his decision seems to be a superb business move that many people are probably envious of.
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This really a misguided click bait title.
But it has attracted replies from a lot of us.
I would not worry about a huge coin dump at the moment as I think he believes he can get over 100k a coin very soon. 🔜 Maybe by my birthday in Jan of 2025.
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He made a mistake and had to face a situation of a lifetime. When you are trading in the futures market, you need to make sure that you have all the risk-management measures set and have your stop-loss and stuff all set because the market is highly unpredictable and volatile and anything can happen at any time, so you can't be so confident to not set a stop-loss and go to bed with so much risk.
I'm pretty sure he didn't do any analysis as well because if he had done so, he would surely set a stop-loss before going to bed because doing analysis makes one realize or at least have an idea that the market is going to go up or down and they can make their decisions accordingly.
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~snip~
I would not worry about a huge coin dump at the moment as I think he believes he can get over 100k a coin very soon. 🔜 Maybe by my birthday in Jan of 2025.
We have already clarified that this is not about Saylor selling BTC, but company shares - but even if he had sold coins, it would not have had any major impact on the market. I think that Saylor would sell any amount of BTC at this moment only if he found himself in a situation where he could not get the funds he urgently needs in any other way - but given that he knows very well that we are in a time when the price very likely to go up, selling really wouldn't make any sense.
I have nothing against BTC honoring you with $100k per coin for your birthday ;)
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He made a mistake and had to face a situation of a lifetime. When you are trading in the futures market, you need to make sure that you have all the risk-management measures set and have your stop-loss and stuff all set because the market is highly unpredictable and volatile and anything can happen at any time, so you can't be so confident to not set a stop-loss and go to bed with so much risk.
I'm pretty sure he didn't do any analysis as well because if he had done so, he would surely set a stop-loss before going to bed because doing analysis makes one realize or at least have an idea that the market is going to go up or down and they can make their decisions accordingly.
I don't know where you get this from, as it seems to me to be totally invented. Where do you get that Saylor was trading futures? He is a long-term investor who has been repeating that assets like bitcoin have to be acquired and kept for life, at best borrowing against them, so we are surprised that he has sold. Nothing could be further from futures trading.
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100% true and I'm not making judgements on the guy. He's free to do whatever he wants with his money, and sometimes you have to cash out, to pay bills/taxes, make purchases etc.
But for someone who has been preaching so hard against selling bitcoins and (if my memory is not mistaking me) even publicly suggesting taking loans to acquire bitcoins, selling such large amounts of bitcoin-tied-stocks, can be viewed as dishonest.
This only hurts bitcoin meme people and nobody else ;D
Following what Saylor or someone else is doing should not be important to us, and I think he was never honest Bitcoin supporter.
Always remember that he was against bitcoin for years and he was always interested only in profit, that didnt change.
Real enemy of Bitcoin is centralization and companies owning most of the coins.
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Is this real news? Like do we have proof that he sold a lot of shares? I mean they have a lot more bitcoins than what he sold, so there isn't really anything crazy about it, but looking at this makes it questionable to invest into his company. Think about it, why would you want to invest into a company that even the owner sells his shares? Of course if he provided something better, like he sold it to someone who could help, then maybe things change, but right now it looks like we are talking about a situation that's not going to be easy to handle at all, its going to look bad to everyone for sure.
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Is this real news? Like do we have proof that he sold a lot of shares? I mean they have a lot more bitcoins than what he sold, so there isn't really anything crazy about it, but looking at this makes it questionable to invest into his company. Think about it, why would you want to invest into a company that even the owner sells his shares? Of course if he provided something better, like he sold it to someone who could help, then maybe things change, but right now it looks like we are talking about a situation that's not going to be easy to handle at all, its going to look bad to everyone for sure.
The amount of bitcoins held by Microstrategy has not changed and was not affected by that sale, so yeah, it's literally just some portion of the company shares changing their owner.
As for Saylor, he sold about ~15% of his holdings and I have no clue if that class of shares has any voting rights at all etc. Nevertheless, he still owns a lot.
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Is this real news? Like do we have proof that he sold a lot of shares?
Yes we have and it has been known for a quarter he will sell those:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1050446/000095017023057418/mstr-20230930.htm
On September 19, 2023, Michael J. Saylor, the Chairman of our Board of Directors and our Executive Chairman, entered into a 10b5-1 trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act with respect to the sale of up to 400,000 shares of our Class A common stock underlying a vested stock option, which expires if unexercised on April 30, 2024.
This was November last year!
https://www.sec.gov/Archives/edgar/data/1050446/000095017024045551/xslF345X03/ownership.xml
From Saylor himself and MSRT lawyer last week.
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This is not much of a thread op should get it locked.
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If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
Well I mean, his company is holding like 200k BTC now, which is worth, what, $20 billion by now? :)
Anyway, it's kinda ironic that both Bitcoin and online gambling are doing very well, especially since the pandemic. Source: go to Bitcointalk => Gambling and count how many casinos and sportsbooks made topics there in the past 5-10 years. And that's just counting the crypto bookies. There are probably a lot more when we count the fiat bookies as well.
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I read today that there are many billionaires who have sold shares recently, like Jeff Bezos (https://www.bbc.com/news/business-68355811), for example, who for a while was known for not selling any shares. Saylor's sale fits into this context, then. I don't know if they smell a market ceiling and are selling now because of it.
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If he had the insight for the future he would have bought at $600 when he said Bitcoin was dead instead of purchasing first time at $11000.
Well I mean, his company is holding like 200k BTC now, which is worth, what, $20 billion by now? :)
Anyway, it's kinda ironic that both Bitcoin and online gambling are doing very well, especially since the pandemic. Source: go to Bitcointalk => Gambling and count how many casinos and sportsbooks made topics there in the past 5-10 years. And that's just counting the crypto bookies. There are probably a lot more when we count the fiat bookies as well.
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My state New Jersey USA has a treemendous online casino structure set up for people to use. Established casinos allow you to tap your ass out over your phone .
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I read today that there are many billionaires who have sold shares recently, like Jeff Bezos (https://www.bbc.com/news/business-68355811), for example, who for a while was known for not selling any shares. Saylor's sale fits into this context, then. I don't know if they smell a market ceiling and are selling now because of it.
It's possible that Jeff Bezos knows something that ultimately makes him prefer to secure the assets he owns by selling his shares. Market conditions don't seem to be good because the world economy is collapsing and many wars are starting to occur.
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I read today that there are many billionaires who have sold shares recently, like Jeff Bezos (https://www.bbc.com/news/business-68355811), for example, who for a while was known for not selling any shares. Saylor's sale fits into this context, then. I don't know if they smell a market ceiling and are selling now because of it.
It's possible that Jeff Bezos knows something that ultimately makes him prefer to secure the assets he owns by selling his shares. Market conditions don't seem to be good because the world economy is collapsing and many wars are starting to occur.
holding assets for the rich is far different than for a normal.
realistically most normals are locked into a single country. having assets in a dozen countries is not realistic for a person with 100k usd in assets.
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Well for me since it was all on his investments it's all up to him if he wanted to sell his shares on Microstrategy or his Bitcoin investments. But I never heard of him selling his Bitcoins I only read "shares". Fud really is a misleading thing and is very dangerous.
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Well for me since it was all on his investments it's all up to him if he wanted to sell his shares on Microstrategy or his Bitcoin investments. But I never heard of him selling his Bitcoins I only read "shares". Fud really is a misleading thing and is very dangerous.
Yes, that's right. From what I've read about Michael Saylor more than once, he always states that he will never sell his Bitcoins, but he will sell some "shares".
Although this is somewhat far from reality, we can only believe the man’s words because he has proven over the past years his deep belief in Bitcoin and his strong adherence despite all the harsh circumstances that he and his company went through when Bitcoin declined.