Mike

And what happened next is probably the most important thing, because instead of it, he just didn't like, you know, oh, we hold a bunch of Bitcoin in our balance sheet.

No, it leveraged its status as a public company to then easily raise money either by issuing shares or issuing debt and then buying more Bitcoin.

So this set up a flywheel as Bitcoin went up with the stock becoming a way for investors to gain leveraged exposure to Bitcoin.

So not only was Bitcoin going up, but then MicroStrategy was amplifying those returns by its shares growing faster than Bitcoin was.

Then as the stock goes up, it becomes easier to raise more capital and the strategy kind of compounds.

But the funny thing is, and as well as this, the enterprise software business is still going.

It makes about 500 million quid a year in revenue.

And the company management have said that it's now they call this the engine that pays the interest on the debt used to buy Bitcoin.

so not a complete you gotta love that it's the stuff we sell pays the interest that we did for our hustle and our our bet on the future of a cryptocurrency pretty much so from august 2020 to time recording the stock is up about 12 fold at its peak last summer it was up almost 30 fold so on paper

Maybe one of the most successful pivots ever, like the space of six years, you take a sleepy old software company, about 5 billion in market cap.

Now you're sitting at 60 billion.

Last year it was up 100 and something crazy stuff.

One of the most talks about stocks in the market outperforming all of the major tech names not named Nvidia.

And it was trouncing them for a while too.

in my opinion it is just one complete house of cards and i think it its days are numbered i'm not sure when those days will will come but it is just it's got over eight billion dollars in debt

If Bitcoin's price stays low for a couple of years, the company is going to struggle to refinance that debt, especially considering it's like nearly underwater on what it paid for its Bitcoin.

So it's average.

So it's got about $61.5 billion worth of Bitcoin on the balance sheet.

And it paid an average price of $75,000.

$75,527 I have here.