Bitcoin bull Michael Saylor announced his intention to pursue the Bitcoin strategy in a letter to Microstrategy shareholders. The announcement that Saylor will continue to buy the leading cryptocurrency aims to lay the groundwork for the Annual Shareholders Meeting scheduled for May 22, 2022.
Saylor unveils its strategy for the leading cryptocurrency
Famous Bitcoin bull Michael Saylor has announced that MicroStrategy, the public company with the most Bitcoin holdings, is looking to buy more BTC and expand its software intelligence services. promised to continue to deliver to its customer base. In a statement, Saylor outlines the company’s strategy for leading cryptocurrency as a way to complement its analytics software and services businesses, as well as increase the growth of its corporate client base.
The company considered its Bitcoin acquisition and retention strategy a great success, as well as reinforcing its business strategy to pursue its Intelligence Everywhere vision. Saylor’s strategy for acquiring BTC has diversified since 2011 to use proceeds from debt and equity transactions. The business intelligence firm began accumulating the leading cryptocurrency in August 2020 through excessive cash flow from operations.
The amount of Bitcoin on MicroStrategy’s balance sheet
As we reported on Kriptokoin.com, the company subsequently offered convertible bonds, stock offerings and crypto-guaranteed loans to buy more Bitcoin for its treasury. increased the rate of accumulation. Saylor also states that innovation is in their corporate DNA. He adds that MicroStrategy pioneered data mining software in the 1980s, was at the beginning of the web revolution in the 1990s, and adopted mobile analytics and cloud-based analytics in the 2000s.
MicroStrategy, together with its subsidiaries, currently holds 129,218 Bitcoins on its balance sheet. The company is known for having a total acquisition cost of $3.97 billion for an average of $30,700 per token. At a panel held last Thursday at the Miami 2022 Bitcoin conference with Ark Invest’s CEO, Cathie Wood, Saylor said he is more optimistic than ever about Bitcoin. Saylor also agreed with Wood’s prediction that BTC could reach $1 million per coin by 2030.
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