MicroStrategy wants to buy more BTC
2 min readMicroStrategy published its financial results for the second quarter of 2021.
MicroStrategy Announces Second Quarter 2021 Financial Results.
Join @MicroStrategy management to discuss $MSTR results at our Live Video Webinar today at 5pm EDT.https://t.co/Qch83Rj0GW
— Michael Saylor (@michael_saylor) July 29, 2021
Microstrategy wants more BTC
Shortly before the presentation conference, CEO Michael Saylor said that the company intends to add even more to its corporate balance sheet. BTC, although it already owns around 105,000.
He said:
“We continue to enjoy the results of our digital asset strategy. Our latest capital increase has allowed us to expand our digital holdings, which now exceed 105,000 BTC. In the future, we intend to continue allocating additional capital to our strategy. “
During a live video call with investors, some mainstream journalists focused on the company because of its decision to invest so heavily in BTC, especially given the fall in prices in May and June, but Saylor and CFO Phong Li said it was a macro strategy.
MicroStrategy has so far invested a total of about $ 2 billion to buy BTC, the current value of all BTCs it holds exceeds $ 4 billion, doubling their investment in about a year. In fact, the company’s CEO believes that long-term purchase and holding of BTC is a less risky investment strategy than many others.
According to Saylor, China’s exit from the market is also a positive event for BTC, as mining is more decentralized. He stated:
“In the long run, the westernization of BTC is good for BTC, the US dollar and western technology.”
It is worth noting that the first purchases of BTC by MicroStrategy were made last year, around this time (August), when the price dropped below $ 12,000. With it currently hovering around $ 40,000, it is still difficult to criticize the elections of Saylor and Phong Li.
