MicroStrategy Chairman Michael Saylor has revealed ambitious plans to purchase as much Bitcoin as market conditions will allow.
Speaking on "Bloomberg Markets," Saylor disclosed that MicroStrategy's current Bitcoin holdings are nearly 153,000, with nearly 500 of those purchased since June 30.
The company's acquisition strategy, Saylor noted, is driven by the goal of accumulating Bitcoin on behalf of its shareholders. It's a strategy that includes not only the use of cash flows but also equity and debt issuances from time to time, provided it creates value for common stock shareholders.
Vladislav SopovMicroStrategy's shares have seen a substantial rally this year, surging over 200%. With this rally, the company appears poised to tap into its increased market value to further its Bitcoin acquisition strategy. Saylor stated, "Our primary use of proceeds generally is just to acquire Bitcoin."
Alex DovbnyaThis approach, coupled with the offering of a yield to shareholders without an associated management fee, has brought considerable returns.
Saylor pointed out that since the strategy's inception three years ago, the company has managed to generate a performance of 254%, outpacing the flagship cryptocurrency's own increase of 145% during the same period.
Tomiwabold Olajide
Denys Serhiichuk
Dan Burgin
U.Today Editorial Team
Vladislav Sopov