Dan Tepiero, the 10T Holdings co-founder, believes MicroStrategy's $425 million Bitcoin bet could be worth $10 billion in a decade.
On September 14, less than two months ago, MicroStrategy CEO Michael Saylor confirmed the purchase of $425 million in Bitcoin.
"MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses."
For MicroStrategy's $425 million Bitcoin investment to turn into $10 billion, BTC would have to rise by 23.5-fold.
As of October 26, Bitcoin is trading at around $13,100.
If BTC hits $308,000 in the next 10 years, then MicroStrategy's investment could become $10 billion.
"Nails it again. Michael Saylor to go down as one of the great global macro investors of all time Massive $425m Bitcoin bet going to $10 billion within 10yrs. Reasoning and thought process impeccable."
The go-to thesis from institutional investors is the argument that Bitcoin would evolve into a safe-haven asset.
At a price point of $308,000, the market capitalization of Bitcoin would be around $6.46 trillion.
The primary advantage of Bitcoin is that institutions perceive it as an inflation trade.
Asset manager: MicroStrategy's $425m Bitcoin bet may become $10b in a decade
Published on Oct 26, 2020
by Cryptoslate | Published on Coinage
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