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Top Angel Investor Takes Dig at MicroStrategy as Stock Plunges 8%
In a recent tweet, prominent angel investor and founder of Founders Fund, Peter Thiel, took aim at MicroStrategy’s recent stock performance. The company’s stock has plummeted by an astonishing 8%, leading to questions about the long-term viability of its investment strategy.
According to data, MicroStrategy is buying less and less Bitcoin (BTC) as time goes on, a trend that was noted by Barron’s in their headline. Despite the recent price drop, the MSTR stock is still up more than 340% year-to-date, significantly outperforming the value of BTC.
The company’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin and has bet big on its potential as a store of value. While this strategy may have paid off in the short term, it remains to be seen how long-term investors will react to such a significant downturn.
Thiel’s criticism is likely due to his own skepticism towards MicroStrategy’s investment approach. As the founder of Founders Fund, he has made a fortune investing in innovative startups and identifying early trends.
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Source: u.today
