Bitcoin busts through...again. Image: Shutterstock. Up and up Bitcoin's price goes, rising higher than even the tallest clouds, headed straight "to da moon." Today, Bitcoin peaked at $57,000, its highest ever price. Why the rise? The reasons are likely manifold and various; Bitcoin's bull run is now in full swing. One obvious candidate is US business intelligence firm MicroStrategy, which yesterday announced that it will sell off $1 billion of debt
to buy more Bitcoin. MicroStrategy has done this before: it sold $400 million in convertible senior notes in December, which it added to a pool of money used to buy billions of the coin.
Just FYI, In 2001, Fortune Magazine published a list of the top losers of the Tech Bubble. Ranked #1 was none other than Michael Saylor, who had a whopping $13.53 Billion LOSS! MicroStrategy's shares went from $3300 to $4 (-99.99% decline), and SEC even accused him of fraud!