Jason Calacanis, who is considered to be the greatest angel investor of all time, has suggested that business intelligence firm MicroStrategy might end up breaking “the game of Bitcoin” due to its massive purchases.
Earlier today, Barron’s reported that MicroStrategy shareholders were on track to vote on increasing the company’s authorized common stock to more than 10 billion shares. The outlet estimated that such a move could theoretically allow the company to buy all of Bitcoin in existence at current prices.
Of course, such a suggestion is ludicrous, but Saylor is certainly determined to significantly
In response to the sensationalist article published by the media outlet, MicroStrategy co-founder Michael Saylor joked about getting all of his best ideas from Barron’s in a social media post on X.
Recently, Saylor did say that his end goal is to end up owning $3 trillion worth of Bitcoin. He also believes that the market cap of the business intelligence firm could end up surging to $10 trillion.
However, Calacanis, a vocal MicroStrategy skeptic, believes that the company’s massive buying spree could make the largest cryptocurrency unattractive for future Bitcoin buyers.
According to the prominent entrepreneur, everyone will “rightfully” think that they are working for Saylor.
Calacanis has suggested that investors are likely to move to another game if Saylor ends up consolidating too much Bitcoin.
According to the most recent data, MicroStrategy owns as much as $43.4 billion worth of Bitcoin, which makes it the biggest corporate holder of the cryptocurrency by an enormous margin.