In the beginning of the year 2020, MicroStrategy made a very daring move. The giant in the business intelligence sector invested a huge chunk of its treasury funds to acquire cryptocurrencies. The firm invested a whopping figure of $425 million in order to acquire Bitcoin (BTC) in particular.
With this move, MicroStrategy had made clear as to which direction the business intelligence giant is headed. From many crypto-analysts as well as global economists’ point of view, MicroStrategy had made the right decision. The commentators praised MicroStrategy’s sudden move of adopting the Bitcoin (BTC) mainstream.
However, the former hedge funder known as Raoul Pal had a different opinion to. Pal stated that in the past, the CEO and founder of MicroStrategy, Michael Saylor was a skeptical person when it came to Bitcoin. But now, Michael has become one of the believers in the bullish nature of the Bitcoin (BTC) cryptocurrency.
Pal stated that the rest of the corporate enterprises may not see Bitcoin (BTC) as Michael Saylor currently perceives it. He stated that the corporations may not adopt Bitcoin at a scale that Michael and MicroStrategy have expected they may.
Pal added why Michael Saylor would not be able to drive the corporations into adopting Bitcoin. He told that Michael is currently speaking Bitcoin’s language and not the language of treasurers from the corporate sector.
The former hedge funder said that for Michael to achieve his company’s goal, he needs to start speaking the corporate treasurer’s language. That is the language that the corporations understand.
Since the beginning of the year 2020, MicroStrategy has managed to gather a total of $425 million worth of Bitcoin (BTC). The business intelligence giant acquired the first batch of Bitcoin (BTC) in August that was worth $250 million.
The giant later confirmed that it had made another investment worth $175 in September to acquire the second Bitcoin (BTC) batch. As stated by Pal, Michael Saylor seems to have had his thinking completely changed around Bitcoin (BTC). Someone who was once skeptical of the Bitcoin (BTC) currency now frequently talks about it on Twitter.