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MicroStrategy Buys More Bitcoin: Michael Saylor

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In a letter addressed to MicroStrategy’s stockholders on Thursday, the company’s CEO Micheal Saylor doubled down on his conviction of continuing its years-long bitcoin buying spree. It was written to prepare for the Annual Meeting of Stockholders on May 22nd in 2022.

MicroStrategy was also assured that the company with the largest bitcoin holdings would continue to purchase more BTC, and will provide software intelligence services for a larger customer base.

Saylor doubled down on his Bitcoin Strategy

You can find the letter, Saylor outlined the company’s bitcoin strategy as “complementary to our analytics software and services business,” a way that will enhance the growth of the enterprise customer base. The company saw its parallel strategy of acquiring and holding bitcoin as an excellent success, in addition to strengthening its business strategy for Intelligence Everywhere.

Saylor’s strategy of acquiring BTC has diversified into using the proceeds of debt and equity transactions since 2011. By using excess cash from operations, the business intelligence firm began collecting bitcoin in August 2020.

Convertible note offerings were later used to increase the company’s accumulation pace. stock offerings, and crypto-collateralized loans to purchase more bitcoins for its treasury.

Saylor also described his company as which “innovation is in our corporate DNA.” He noted that MicroStrategy pioneered data mining software in the 1980s, was early to the web revolution in the 1990s, and espoused mobile analytics as well as cloud-based analytics in the 2000s.

129,218 BTC on MicroStrategy’s Balance Sheet

MicroStrategy is currently being partnered with its subsidiaries. holdsIt has 129,218 bitcoins in its balance sheet with an average price of $30,000.00 per coin and a total buying cost of $3.97 Billion.

In a panel at the Miami 2022 Bitcoin conference with Ark Invest’s CEO Cathie Wood last Thursday, Saylor said he was “more bullish than ever on Bitcoin” and agreed with Wood’s prediction that BTC could reach $1M per coin by 2030.

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