Microstrategy CEO Michael Saylor's bullish optimism for Bitcoin far exceeds that of most of his supporters. And he has the numbers to prove it. The company recently announced an additional purchase of 5.050 BTC, bringing its total holdings to 114.042 Bitcoin. At press time, they were worth over $5,4 billion.
The buying spree that began last year saw Microstrategy position itself as the first publicly traded company to adopt Bitcoin as its "Primary Treasury Reserve." It also ranked among the top companies in terms of ownership.
But why exactly does Michael Saylor continue to invest in Bitcoin?
In a recent interview with Bloomberg, there was a fairly simple answer to this question. Saylor said:
A year ago, we had a $500 million software business and $500 million in cash generating zero percent returns. Today, we have a $500 million software business growing at $10 a year and a $5 billion Bitcoin business growing at over $100 a year. So, our strategy is to acquire and own Bitcoin.
This will be done through a variety of offerings and obligations such as equity offerings, convertibles and senior debt obligations, along with junk bonds and cash flows.
The CEO also suggested that the company's latest BTC acquisition was accomplished through the sale of over $400 million in shares last quarter. This allowed the company to "buy Bitcoin in a way that would be accretive to all shareholders."
For all the mere mortals who would like to retrace the exploits of the CEO of Microstrategy, we remind you that it is also possible to buy bitcoin through platforms such as Bitcoin Profit App which allow you to buy and sell the main cryptocurrencies, in a simple and direct way.
Furthermore, Saylor's bullish outlook has led him to largely place his faith in "buying when cryptocurrency is down."
It might interest you
“If you already risked your money buying MicroStrategy stock and Bitcoin goes up, you would rather we own more Bitcoin than less Bitcoin so you can benefit from the rally.”
Possibility to invest in other cryptocurrencies?
The only problem in heaven remains a "looming regulatory crackdown". Saylor believes there is general consensus among both the public and regulators that Bitcoin is a commodity and a store of value.
What about other projects, especially those in the DeFi space like Solana? According to the executive, as long as regulatory uncertainty persists, it will be an unwelcoming and unsuitable environment for investors.
Until then, institutions like his will focus solely on accumulating Bitcoin, as it is an institutional-grade asset. "A class in itself," Saylor concluded.
Meanwhile, after buying more bitcoin, the company's shares fell 4% to $618,43 in recent trading.
Some analysts argue that the company is playing a bit with bitcoin rather than investing in real analysis.
Regarding its stock, MicroStrategy said it issued and sold 555.179 shares at an average price of $727,64 between July 1 and September 12.
Last week, when El Salvador adopted bitcoin as legal tender, the heads of the central banks of Mexico and Sweden expressed their doubts about the cryptocurrency.
Bitcoin is more of a vehicle for barter than a real currency., said Bank of Mexico Governor Alejandro Diaz de Leon, according to Reuters.
