Riot Platforms is doing a MicroStrategy. They bought 5,117 #Bitcoin for U.S. $510M, funded by convertible notes, at roughly $99,669 per unit. Their total holdings are now 16,728 BTC. :reward: Share > Like > Comment = ⚡️21 :topreward: Top Comment = ⚡️500 (For 24 hrs Only)

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They are one of the largest mining pools. They don't want to sell their bittes? Bull market is inevitable.
This is an impressive strategy by Riot Platforms! With this significant move, they are strengthening their position in the Bitcoin space and sending a strong signal about the long-term importance of Bitcoin. Such investments demonstrate the high level of confidence in Bitcoin as a store of value. It will be exciting to see what further progress they make!
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Dow 1 year ago
Interesting, makes me ponder… does this mean they have no plans to put more money into upgrading their mining any more? Are their employees getting paid in BTC if they aren’t liquidating anymore?
Theres a really good discussion about them on X spaces. I can find it if you’re really interested. Tldr: these smaller companies don’t compete with #mstr regarding the vol traders. Saylor has already proven he will go leroy jenkins when btc crashes 50% 🧡👊🏻🍻
The mining companies will continue mining and being competitive or they will vanish. A btc treasury will help them but nobody can recreate what saylor is doing in the next 2 years. Its too late.