Top 10 Tweets - MicroStrategy raises $650M for bitcoin
For to equal golds market cap, a single #Bitcoin has to be worth $500,000.00. That’s 27.2x the current price of ~$18345.00. Think how cheap #Bitcoin really is? And realize Bitcoin is so much bigger than golds market cap. It is shocking how early we are.
The size of the global custody system is $23 trn That will accrue to bitcoin and more likely maybe ETH.
The settlements layer is over $4 QUADRILLIAN per annum Probably BTC and ETH and other blockchains, including private ones.
The derivatives layer is another $1.2 QUADRILLION Feels more like ETH than BTC as the dominant player.
Total equities traded per annum globally is around $70 trillion. Tokens are more likely ETH and other protocols
Total global debt market is $260trn. Non-gov debt is likely ETH. This doesn’t include total lending market which would double this...
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Corporations buying , like , , is the biggest BTC news in the last 12 months because its got companies copying the strategy, is massively scalable and totally unexpected. .
MicroStrategy is not an investment company (IC) per the 1940 Investment Co. Act. An IC is a co. that invests ≥ 40% of assets (less cash & govt securities) in “securities”. Per the SEC, isn’t a security. Ergo, holding BTC doesn’t cause MicroStrategy to become an IC.