MicroStrategy CEO Explains Massive Bitcoin Reserves Plan
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- Generating long-term debt in favorable situations.
- Saylor said that no official actions had been taken.
A prominent software company, Microstrategy is recognized for its positive attitude towards Bitcoin. According to the company’s CEO, Saylor, the firm owns a total of around 122,478 Bitcoins, which it might lend to a counterparty in order to create revenue.
The software company’s CEO described various methods in which the bitcoin on its balance sheet may be utilized. He also claimed that MicroStrategy’s Bitcoin might be placed into a collaboration with a significant tech business or bank.
Saylor said:
“Bitcoin, as the world’s most widely used cryptocurrency, is a reliable store of value and an appealing financial asset with greater long-term appreciation potential than keeping cash.”
Michael Saylor Believes in Bitcoins
Michael went one step further, saying that MicroStrategy might build some type of intriguing application using its Bitcoin. He said that the business may look into possibilities like placing a mortgage on its bitcoin, generating long-term debt in ‘favorable situations.’ In his presentation, Saylor said that no official actions had been taken on any of the prospective projects he discussed.
As of September, Microstrategy had been the most prominent corporate owner of Bitcoin. Between November 29 and December 8 of this year, MicroStrategy invested $82.4 million in cash to buy 1,434 bitcoins at an average price of around $57,477 per Bitcoin.
As of now, the price of Bitcoin has fallen 32 percent. From its all-time high of $69,044.77 set in November to about $47.547.43. Saylor and MicroStrategy, on the other hand, still feel Bitcoin is the most valuable asset.
Cryptocurrency
