TYSONS CORNER, Va., December 9, 2020 — MicroStrategy® Incorporated (Nasdaq: MSTR) (“MicroStrategy”) today announced the pricing of its offering of $550 million aggregate principal amount of 0.750% convertible senior notes due 2025

MicroStrategy intends to invest the net proceeds from the sale of the notes in bitcoin in accordance with its Treasury Reserve Policy pending the identification of working capital needs and other general corporate purposes

For the two dimwits here, these are the two Elliott Wave Counts am working on.

Scenario I


This count suggests that Bitcoin has completed wave (1) (at $9900) and had a small wave (2) retracement (composed of a combination WX and a triangle Y).
At the next higher degree, wave 1 and 2 are also complete (respectively at $11,375 and $10,860).
Now, this count suggests that we should expect the next leg, a wave 3 rally imediately as depicted by the rising blue trendline. My confidence in this count would continue to rise as wave 3 in Bitcoin rises strongly above $12,000, for example.
I had posted this very count earlier on in this thread.

Scenario II


This is the second scenario. This count suggests that we have a bigger impulsive wave (1) which completed recently at $12,050. This is the alternate count where I have been suggesting that a bigger correction below $10,000 is a possibility. That correction would take the form of an ABC and complete a bigger wave (2) retracement possibly at $6,900.

In both scenarios I expect Bitcoin to rise to levels above $19,000, the previous major high. Only that one count suggests the rally should start immediately while the other suggests a more prolonged time frame.

At some point price action in Bitcoin will eliminate one count count so that we remain with the other. If, for example, Bitcoin falls below $9,200, then our scenario I will be eliminated and we'll remain with scenario II as the working preferred Elliott count.

It is these conundrums that the cobwebs in your heads have not managed to let you see. But I hope now you start to get some level of understanding.

Isn't the zim dollar guaranteed by full credit of Zimbabwe govt. Venezuela's bolivar is backed by oil reserves and yet they announced they want to develop a virtual currency to replace it. Some companies in Venezuela are only exclusively accepting payment in bitcoin. It will only take massive currency printing by govt to make that mahindi choma guy to refuse your 10 bob.

By the way what makes you accept m-pesa, it's not backed by anything just what is contained in the mpesa servers? M-pesa is a crypto-currency tied to the kenya shilling 1:1. You still use m-pesa currency for many transactions e.g paybills and only exchange for kshs when you withdraw from an agent.

Bitcoin is like south sea company the eye-opener for joint stock companies. When the south sea bubble burst it didn't stop the formation of joint stock companies. Watch as bitcoin marches all the way to 60,000 dollars before any serious correction. Bitcoin is a concept whose future has arrived. It started off with gold farming