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January 20, 2022 Coin Telegraph

MicroStrategy CEO won’t sell B BTC stash despite crypto winter

Bitcoin

MicroStrategy’s Michael Saylor has no intention of selling from his firm’s $5-billion Bitcoin chest despite a 40% drop in the value.

Despite a 40% drop in the value of Bitcoin (BTC), MicroStrategy’s Michael Saylor has no intention of selling his firm’s $5-billion stash.

Even if BTC suffers a lengthy bear market, Saylor told Bloomberg that he is a “Bitcoin bull” and does not intend to alter MicroStrategy’s multi-billion-dollar BTC acquisition plan. He took a firm stance against cashing out BTC:

“Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin, right? That’s our strategy.”

This current crypto winter doesn't have Michael Saylor feeling all that cold. He tells @emilychangtv why in Studio 1.0 https://t.co/EsUlY5sscN pic.twitter.com/zWStdl5qsF
— Bloomberg TV (@BloombergTV) January 20, 2022

MicroStrategy became the first publicly listed corporation in the United States to acquire and hold Bitcoin as part of its balance sheet in August 2020. Since then, the business software manufacturer has amassed about 124,391 BTC worth about $5.2 billion at current market prices.

Due to the large portion of its balance sheet being taken up by cryptocurrency, the company’s shares have turned into a means to get exposure to the “digital gold.” After announcing its venture into BTC, MicroStrategy’s stock skyrocketed 900% at one time; however, recently, its collateral has gone into a tailspin after being exposed to excessive buying events financed in part with borrowed funds.

Since August 2020, MicroStrategy has continuously boosted its Bitcoin position, keeping its promise to purchase even more of the major digital currency. Late last year, MicroStrategy bought 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, bringing its total to 124,391 BTC.

Despite the recent market sell-off, Saylor still considers BTC one of the best inflation hedges and alternatives for stock buyback events. He dismissed any concerns about the cryptocurrency’s decline from its all-time high of $69,000 in November to less than $40,000 this month, stating that because inflation is so high, the company’s assets are actually a source of “great comfort.”

Saylor, who previously branded cash a “melting ice cube,” anticipates more Wall Street names will buy BTC at current prices, describing it as “a great entry point for institutional investors.”

Mr. Wonderful plans to invest in mining company stocks

January 18, 2022 Coin Telegraph

Bitcoin

Entrepreneur Kevin O’Leary expressed his interest in purchasing stocks of mining companies that use sustainable energy.

Canadian businessman Kevin O’Leary laid out his plans to invest in mining company stocks. In an interview with Anthony Pompliano, Mr. Wonderful shared stories about his recent travels in the Middle East to find ways to invest in Bitcoin (BTC) mining. According to the Shark Tank mogul, investors in the Middle East are looking into “sovereign mining operations.”

O’Leary also predicts that in the next 2-3 years, sovereign funds may decide to invest in Bitcoin mining. However, the businessman notes that the funds will choose mining businesses that use sustainable energy. Due to environment-related controversies, the eco-friendliness of mining operations is a crucial deciding factor for investors, according to the Canadian entrepreneur.

The businessman also expressed his interest in opening his own mining operations. However, he explained that there are things that he is considering before this happens. He stated that aside from government approvals, the people who live in the community where the mining operations will take place must approve of the business.

Aside from these, the entrepreneur also explained that Bitcoin mining companies must be able to track their BTC earnings in company balance sheets. This enables investors to buy the mining company stock and own BTC through equity. O’Leary notes that he will be investing in BTC through this process.

Back in December, O’Leary also shared his thoughts on crypto investing with the public. In an exclusive interview with Cointelegraph, the businessman explained that investing in crypto is similar to investing in Google and Microsoft.

"If you're investing in, for example, Google or Microsoft, what are you investing in? You're investing in software. Why wouldn't you invest in crypto? It's software too," he said.

Meanwhile, the former BTC critic is also very excited about the potential of nonfungible tokens (NFT). O’Leary is betting that NFTs may potentially become bigger than Bitcoin. However, he notes that he will invest in both.

More billionaires turning to crypto on fiat inflation fears

January 3, 2022 Coin Telegraph

Billionaires

The number of billionaires that have invested in crypto increased last year, and that trend could continue into 2022 as fears over fiat intensify.

Previously anti-crypto investors are increasingly turning to Bitcoin and its brethren as a hedge against fiat currency inflation concerns.

One example is Hungarian-born billionaire Thomas Peterffy who, in a Jan. 1 Bloomberg report, said that it would be prudent to have 2-3% of one’s portfolio in crypto assets just in case fiat “goes to hell”. He is reportedly worth $25 billion.

Peterffy’s firm, Interactive Brokers Group Inc., announced that it would be offering crypto trading to its clients in mid-2020 following increased demand for the asset class. The company currently offers Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, but will be expanding that selection by another 5-10 coins this month.

Peterffy, who holds an undisclosed amount of crypto himself, said that it is possible that digital assets could reap “extraordinary returns” even if some could also go to zero according to Bloomberg. “I think it can go to zero, and I think it can go to a million dollars,” he added before stating “I have no idea.”

In early December, the billionaire predicted that Bitcoin could spike as high as $100,000 before markets begin to retreat.

Bridgewater Associates founder Ray Dalio is another renowned billionaire that revealed his portfolio contained some Bitcoin and Ethereum last year. This revelation came just a few months after he questioned crypto’s properties as a store of value.

He has now changed that stance and views crypto asset investments as “alternative money” in a world where “cash is trash’’ with inflation eroding purchasing power.

In late December, Dalio commented that he was impressed at how crypto as lasted, before stating “Cash, which most investors think is the safest investment is, I think, the worst investment.”

Billionaire hedge fund manager Paul Tudor Jones also bought Bitcoin last year, labeling the move as a hedge against inflation.

Pandemic-induced stimulus packages have caused economic turmoil across the globe, the fallout from which could linger for decades. In the United States, inflation is at a 4 decade high of 6.8%. This has resulted in a surge in the Consumer Price Index (CPI) as the costs of daily goods continue to increase.

The billionaires are already seeing the danger signs with fiat currencies and central bank manipulation, and they are increasingly turning to crypto assets. The year 2022 could see more wealthy investors join their ranks if the trend continues.

Defi Marketplace and NFT Platform Arcade Raises $15 Million in Series A Funding Round

December 23, 2021 Bitcoin.com

Central Bank of Argentina Scrutinizes Companies Offering ‘Extraordinary Returns’ on Crypto Asset Investments

December 22, 2021 Bitcoin.com

Russians Have Invested Over $67 Billion in Cryptocurrency, Lawmaker Reveals

December 21, 2021 Bitcoin.com

Billionaire Ray Dalio ‘impressed’ how Bitcoin survived the last decade

December 20, 2021 Coin Telegraph

Bitcoin

Hedge fund manager and former Bitcoin critic Ray Dalio is ending the year with a positive stance on cryptocurrencies.

Billionaire Ray Dalio gave another positive sentiment, saying he is impressed with crypto while classifying cash as “the worst investment.”

In an interview with Yahoo! Finance, on December 17, the Bridgewater Associates founder stated that he thinks it’s “impressive” that crypto lasted without being hacked in the last decade.

“I think it's impressive that for the last 10-11 years, that programming has held up. It hasn't been hacked, and it has an adoption rate,” said Dalio.

He also mentioned that he owned some Bitcoin (BTC) and Ether (ETH), but when asked how much he owns, Dalio responded by saying that he doesn't hold a lot of it: “I'm very big on diversification, and it's a very small part of the portfolio."

Back in 2020, Ray Dalio’s criticisms of volatility and lack of buyer protection for crypto have been the cause of alarm for many holders. He mentioned that Bitcoin is “not very good as a store-hold of wealth.” However, at the beginning of 2021, the billionaire did a 180 on Bitcoin, calling the asset “one hell of an invention.”

In an essay that Dalio published back in January 2021, he clarified that both crypto advocates and antagonists are looking at the same thing from different angles. He said that he understands that Bitcoin has its pros and cons.

The billionaire fund manager proceeded to point out that he views crypto “as an alternative money in an environment where the value of cash money is depreciating in real terms.” He added that he still thinks that “cash is trash” as he said in previous interviews.

“Cash, which most investors think is the safest investment is, I think, the worst investment."

The billionaire’s answers show more positivity compared to his previous statements that the United States may ban Bitcoin and that he would choose gold over bitcoin back in August which was dubbed by the community as FUD.

On March 25, Dalio stated that it’s likely that Bitcoin may be outlawed the way gold was outlawed under some set of circumstances. He cited the gold ban in the 1930s as an example saying that this may also happen to Bitcoin. During those times, the government didn’t want gold to compete with fiat because things may go “out of control,” Dalio said.

Actress Gwyneth Paltrow Invests in Bitcoin Mining Operation Terawulf

December 14, 2021 Bitcoin.com

Investment

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