Ouch. And he made further bets at about $10,000 above present traded price. Michael Saylor is practicing reverse average costing. This works if BTC stops bleeding down. But if kills when BTC continues to crash down.
This is like a gambler at a blackjack table. After losing a round, he doubles his bet. And he keeps doing this in the hope his luck will turn.
Very reckless. Except he is doing this with his investors' money. It all money he has raised through issuing new shares and notes. Everyone is a sucker. But not him.....
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments