Showing posts with label Michael Saylor. Show all posts
Showing posts with label Michael Saylor. Show all posts

The NEW Company Aiming to Own MORE Bitcoin than Michael Saylor/Strategy - But Can ANY Company Catch Up To Their 530,000 BTC Stockpile?

 Bitcoin vault

Jack Mallers is the fonder of Strike, (which to me has always seemed like the all-crypto version of Cash App) and now heads a 2nd venture as he has just been named CEO of a new company called Twenty One, and he’s not wasting any time setting the tone. His mission? Overtake Michael Saylor and Strategy (formerly MicroStrategy) as the biggest corporate holder of bitcoin.

In a Bloomberg Technology interview, Mallers laid it out plain: Twenty One isn’t trying to be a fintech, a bank, or a crypto hedge fund. It’s a Bitcoin-first, Bitcoin-only company. Everything it does—from the products it builds to how it returns value to investors—is centered on one goal: stacking sats and scaling hard.

“We want to be the best vehicle for investors to gain exposure to bitcoin in the public markets,” Mallers said - making it clear they want to be seen as an official competitor to Michael Saylor and Strategy. 

The idea for Twenty One came after years of deep involvement in Bitcoin infrastructure—Mallers has worked alongside Tether and played a major role in Bitcoin adoption efforts in El Salvador. Now he’s aiming to do what no one else has done: build a public company from scratch that’s Bitcoin-native from day one. No pivoting from old-school industries. No legacy baggage.

On the other side of the ring is Michael Saylor, who’s basically become the poster child for corporate Bitcoin accumulation. With over 530,000 BTC in Strategy’s vaults, Saylor’s been rewriting the playbook for capital markets—raising billions via bitcoin-backed bonds and preferred stock to fuel the company’s ever-growing stack.

Mallers isn’t denying Saylor’s influence—in fact, he says Saylor was part of the inspiration. But where Saylor is evolving a decades-old company into a Bitcoin vehicle, Mallers is building the future from scratch. It’s new-school vs. old-school, and the battleground is Bitcoin.

Realistically, Twenty One's goal of catching up to Strategy is a long shot, at least when it comes to total Bitcoin held.  The company will launch with 43,000 BTC in hand which is a massive amount in any other circumstance, except comparing it with Strategy's 530,000 BTC.

Where they can make a name for themselves is becoming the company currently accumulating the most Bitcoin, while Saylor is unlikely to be dethroned as the one who currently holds the most Bitcoin.


Is This a Good Thing? 

It's easy to get caught up in the immediate effects of companies fighting over who can accumulate the most Bitcoin, as the immediate result is driving up the price. When it comes to supply and demand, whales with huge appetites obviously add a lot of momentum to the 'demand' end. 

But it's also putting the power to crash the entire market in the hands of a very small group of people. Of course, Saylor and really any investor with a basic understanding of the market would never dump 530K BTC onto the market at once, that obliterates their own profits as the market would have crashed long before even half of the coins were sold.

However, even a smaller portion like 10% for example - in the case of Strategy, that's still over $3 billion in BTC flooding the market, which would probably sent Bitcoin's price down by $10,000 to $15,000.  Then when you consider this may trigger another large holder to panic - it's not just about how many tokens one major holder sells, it's the total amount they sell + scare others in to selling when a sizeable red candle appears.

Then there's the obvious argument against companies trying to get as much Bitcoin as possible - remember, decentralization? It's easy to forget in a story about 2 companies who want it all.


------- 
Author: Adam Lee
Asia News Desk 
Breaking Crypto News

Even at All-Time Highs, MicroStrategy is STILL Buying Bitcoin + Michael Saylor to Advise Trump?


Michael Saylor, co-founder and executive chairman of MicroStrategy Inc., emphasizes his commitment to enhancing shareholder value through what he calls "intelligence leverage." By focusing on intelligence leverage, Saylor may aim to strengthen MicroStrategy's dual identity as both a software company and a major institutional player in the cryptocurrency space, particularly Bitcoin.

Saylor also talks about his willingness to advise the Trump administration on cryptocurrency representing a significant development in the intersection of policy and blockchain technology. As a prominent advocate for Bitcoin, Saylor has championed its role as a hedge against inflation, a store of value, and a critical element in the future financial system.

Video Courtesy of Bloomberg

Michael Saylor Still Pushing Bitcoin after Stepping Down as CEO of MicroStrategy - Tells Elon Musk to "BUY MORE"...


Michael Saylor, a well-known Bitcoin advocate who had earlier announced his resignation as MicroStrategy CEO, responded to Elon Musk's ironic tweet about wanting to buy the Manchester United football team coin.

--
--


Saylor responded to Musk saying he'd 'prefer' if he bought more Bitcoin.

A better response would be something including reasons to buy Bitcoin, besides pleasing Michael Saylor... but okay.

Musk said in February 2021 that Tesla had purchased BTC for $1.5 billion and had begun taking it as payment for its electric vehicles. However, the payment method was removed in April due to contentious concerns about Bitcoin miners and the effects they were having on the environment.   

In spite of this, Tesla kept all of that Bitcoin until recently. In the second quarter of 2022, the corporation sold off 75% of its Bitcoin, leaving only $218 million in the cryptocurrency's balance. The corporation purchased Bitcoin for $31,620 and sold it for almost $29,000 per unit.

Musk says he hasn't sold any of his privately owned crypto...

Musk did clarify, though, that he was not selling his personal cryptocurrency holdings, only those that belonged to Tesla, the company. 

Musk has mentioned owning Bitcoin, Ethereum, and the coin he says he continues to buy more of, Dogecoin.

-------------------
Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Michael Saylor steps down as CEO of MicroStrategy...

There's a shakeup at MicroStrategy as major Bitcoin bull Michael Saylor steps down.

His investments into Bitcoin are still likely to pay off big down the road, but he's being blamed for the losses on paper now.  Is this a sign those who will take his place don't understand this?

Will the person who takes his spot make the huge mistake of selling off their crypto?

Video courtesy of Yahoo News