To be downgraded, from a firm this has caused a massive crash the world has nightmares about!
This headline is exactly what we're currently seeing with CITI!
That's right, the firm that was extremely responsible for the entire massive 'GREAT RECESSION' has come to make a bold downgrade from our beloved MicroStrategy.
As reported by twitter user Vijay Boya:
"Citi downgraded MicroStrategy because of its plan to accumulate a significant amount of #Bitcoin in its corporate treasury.
Never forget this is one of the ratings agencies that rated subprime mortgages AAA right before the housing market crashed and destroyed the global economy"
It never ceases to amaze me how the culprits for such financial audacity can point the finger so quickly!
@originate Developer & Market Analyst
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Citi wants to shake the tree on Bitcoin. Behind the scenes they are planning for the new system. It’s all double speak.
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Let them play they're bet as they wish... It can be a loosing one though.
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Agree!
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Sounds reasonable. MicroStrategy is exchanging stable reserves for a highly volatile asset. Financial models will punish you for that.
While STONKS only go up, crypto can drop quite a bit ;)
Very true, it's a very volatile asset in general so I do understand. It's just funny coming from a firm that was doing rather risky things themselves!
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CITI? Who cares about them?
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Haha! True, just a little upset with their assessment when they should off been "assessing" themselves handing out loans like nothing.
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