David Hoffman
👤 SpeakerAppearances Over Time
Podcast Appearances
He was throwing off cash, that sort of thing.
Oh, yeah.
Well, and he had just started.
People were calling him crazy.
They were laughing at him at this point in time.
He's still crazy.
He might be crazy right.
It doesn't matter what price Bitcoin is at.
Michael Taylor is a crazy person.
That's just called being contrarian, right, though.
You can be crazy, right, and people will celebrate you for it.
But you can see the big orange dots this time around in this bear market.
They're some of the biggest dots I've ever seen.
Okay, so where did he get this capital?
Where did he get the $3 billion to make these purchases?
Yeah, that's what he was doing.
It's harder to do during a bear market.
So he had to offer some juicy yield.
So he raised these billions of dollars in a preferred stock offering called STRC.
And this gives holders preferred shares in MicroStrategy as well as 11.5% per year guaranteed yield.