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256 What Happens When an 'Infinite-Money Machine' Unravels

Slashdot
msmash @ Slashdot · today 12:25 EDT

What Happens When an 'Infinite-Money Machine' Unravels

Michael Saylor's software company Strategy, formerly known as MicroStrategy, built a financial model that some observers called an "infinite-money machine" by stockpiling hundreds of thousands of bitcoins and issuing stock and debt to buy more, but that machine appears to be breaking down. The company's stock peaked above $450 in mid-July and ended November at $177.18, a 60% decline. Bitcoin fell only 25% over the same period. The gap between Strategy's market cap and the value of its bitcoin holdings has n

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