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World’s Greatest Angel Investor Warns That MicroStrategy Is Buying Too Much Bitcoin
Calacanis, a well-known entrepreneur and skeptic of MicroStrategy’s massive Bitcoin purchases, has recently expressed concerns about the company’s aggressive buying spree. According to him, if Saylor manages to consolidate too much Bitcoin, it could make the largest cryptocurrency unattractive for future buyers.
In a recent statement, Calacanis stated that if MicroStrategy ends up owning $3 trillion worth of Bitcoin, it would be perceived as a situation where Saylor is essentially working on behalf of everyone else. He believes that this could lead to investors turning away from the cryptocurrency altogether.
It’s essential to note that MicroStrategy currently holds around $43 billion worth of Bitcoin, which makes it the largest corporate holder of the asset by an enormous margin.
In another statement, Calacanis also expressed his doubts about Saylor’s ability to manage such a massive holding. He feels that Saylor has already become too focused on buying more Bitcoin and is not dedicating enough attention to growing his company’s core business.
Saylor, who co-founded MicroStrategy in 1989, has been an ardent supporter of the cryptocurrency market.
Source: u.today
