{"id":144987,"date":"2024-12-17T14:00:36","date_gmt":"2024-12-17T12:00:36","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144987"},"modified":"2024-12-17T02:55:31","modified_gmt":"2024-12-17T00:55:31","slug":"microstrategys-bitcoin-venture-will-not-end-well-warns-martin-shkreli","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/microstrategys-bitcoin-venture-will-not-end-well-warns-martin-shkreli\/","title":{"rendered":"MicroStrategy&#8217;s Bitcoin Venture Will Not End Well, Warns Martin Shkreli"},"content":{"rendered":"<p>Appearing on the Shkreli Planet podcast, Shkreli dismissed Saylor&#8217;s excitement about <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong>, claiming it\u2019s part of a bubble that will inevitably burst, accusing Saylor of being overly optimistic about the asset.<\/p>\n<p>Saylor\u2019s company, MicroStrategy, has embraced Bitcoin as part of its treasury reserve strategy, believing the cryptocurrency offers a hedge against inflation. MicroStrategy first invested in Bitcoin in 2020, purchasing $250 million worth, which added around 21,000 BTC to its balance sheet. Since then, the firm has continued to increase its holdings, most recently spending $1.5 billion to acquire an additional 15,350 Bitcoin, bringing its total to nearly 440,000 BTC.<\/p>\n<p>Shkreli also revealed that he is betting against MicroStrategy&#8217;s stock, although he didn&#8217;t disclose the exact size of his short position. Despite his negative view, the company\u2019s stock has soared by nearly 500% this year, propelling MicroStrategy into the prestigious Nasdaq-100 index.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/defi-poised-for-a-comeback-as-trump-linked-firm-buys-in\/\" title=\"DeFi Poised for a Comeback as Trump-Linked Firm Buys In\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/DeFi-5-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">DeFi Poised for a Comeback as Trump-Linked Firm Buys In<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Beyond criticizing MicroStrategy\u2019s investment strategy, Shkreli took issue with Saylor\u2019s public push for Bitcoin as a reserve asset, suggesting that Saylor, despite his prominent advocacy, isn\u2019t the best spokesperson for Bitcoin\u2019s future. He pointed to Saylor&#8217;s recent proposal to Microsoft, where he urged the tech giant to shift its capital toward Bitcoin. However, Microsoft shareholders rejected the idea, with an overwhelming majority voting against the proposal.<\/p>\n<p>While Shkreli\u2019s comments reflect skepticism toward Bitcoin\u2019s long-term prospects, he also speculated that the cryptocurrency\u2019s price should have seen a more significant jump given MicroStrategy\u2019s continued purchases. He suggested the market sentiment around Bitcoin is currently bearish, even though it recently hit an all-time high of over $107,000.<\/p>\n<p>Lastly, Shkreli touched on the potential for Bitcoin to play a role in future U.S. government financial strategies. While the idea of Bitcoin as a national reserve asset is gaining traction, particularly among some political figures, Shkreli expressed doubt about its long-term viability and speculated that any future administration might undo efforts to stockpile Bitcoin.<\/p>\n<p><iframe loading=\"lazy\" title=\"Martin Shkreli Speaks On Michael Saylor, Bitcoin &amp; Microstrategy\" src=\"https:\/\/www.youtube.com\/embed\/caDx7zhdpM0\" width=\"100%\" height=\"463\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Martin Shkreli, the controversial figure known as &#8220;Pharma Bro,&#8221; has sharply criticized Michael Saylor, the CEO of MicroStrategy, for his aggressive Bitcoin investment strategy.<\/p>\n","protected":false},"author":9,"featured_media":32092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,27],"tags":[],"class_list":["post-144987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MicroStrategy&#039;s Bitcoin Venture Will Not End Well, Warns Martin Shkreli<\/title>\n<meta name=\"description\" content=\"Martin Shkreli, the controversial figure known as &quot;Pharma Bro,&quot; has sharply criticized Michael Saylor, the CEO of MicroStrategy, for his...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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