This year MicroStrategy relished in a good problem to have – a half a billion dollars of cash in its bank account and not sure what to do with it. The company could have paid its shareholders a hefty dividend, bought back a truckload of its stock, invested in R&D, financed new acquisitions or pursued other traditional financial endeavors. But the NASDAQ-traded tech firm got creative, and instead opted to buy $425 million worth of bitcoin, ushering a new era of shameful, reckless, and irresponsible corporate behavior.
Source: The Ill-Fated Emergence of the Bitcoin Balance Sheet
