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, … ⌘ Read more