Well-known investor Jason Calacanis wonders if the current price of the asset is being artificially inflated by Michael Saylor’s practice of continually buying more of it.
U.Today reports that Strategy recently bought $2.54 billion worth of Bitcoin, specifically 34,164 BTC. This brings their total Bitcoin holdings up to 815,061 BTC, making it the third-largest Bitcoin purchase ever recorded.
A $20,000 premium?
Marc Andreessen asked the AI chatbot Grok a thought-provoking question: what would the current price of Bitcoin be if Michael Saylor hadn’t invested more than $61 billion in it starting in 2020?
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According to AI analysis, Bitcoin’s price might be between $55,525 and $65,525 if Michael Saylor hadn’t been actively purchasing it. Currently, Bitcoin is trading at $75,525.
Calacanis is concerned about what he calls the “whale effect.” He believes Strategy’s complex financial setup artificially props up its value.
The company is using its existing program to sell shares and raise capital.
According to U.Today, Calacanis has publicly said he would avoid investing in MicroStrategy (MSTR) stock under any circumstances, even if the price dropped dramatically. He also believes there shouldn’t be any financial assistance offered if the company’s risky debt strategy fails.
However, some users poured cold water on Calacanis’s reasoning and Grok’s assessment.
One user suggested that the people funding these purchases wouldn’t buy them directly if it weren’t for this easier option, which avoids the risks of ownership and custody.
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2026-04-20 23:19