MicroStrategy (MSTR) CEO Michael Saylor pledged to maintain pouring the enterprise intelligence firm’s extra money into bitcoin Thursday, telling buyers his group may even “discover numerous approaches” for extra buys.
“Going ahead, we proceed to plan to carry our bitcoin and make investments further extra money flows in bitcoin. Moreover, we’ll discover numerous approaches to amass further bitcoin as a part of our total company technique,” Saylor stated within the firm’s quarterly filing.
The corporate is at the moment sitting on a trove of 70,784 bitcoins. Whereas most of that was bought with extra money, Saylor raised $650 million late final yr in a debt providing to purchase but extra bitcoin.
On the corporate’s earnings name, Saylor added that shareholders can anticipate the software program firm to buy extra bitcoin, noting they may “proceed to actively handle” their stability sheet. Holding bitcoin as a major reserve asset and looking for to amass extra bitcoin are a part of the company technique, Saylor stated.
“Relating to our bitcoin technique, our pioneering choice to make bitcoin our major treasury reserve asset has made MicroStrategy a thought chief within the cryptocurrency market and generated nice curiosity in MicroStrategy as a company,” Saylor stated.
MicroStrategy will “do our greatest” to capitalize on the chance Saylor sees to turn into a pacesetter within the cryptocurrency house, per his feedback on the earnings name, saying he “feels good” concerning the “synergy” between his firm’s software program product technique and bitcoin technique.
CFO Phong Le additionally stated that, along with persevering with to develop their software program merchandise, shopping for bitcoin is an “vital half” of “enhancing” investor returns.
Saylor is “not overly involved” with bitcoin’s near- or mid-term volatility, and stated he intends to “progressively purchase extra bitcoin” at costs that “most likely maintain going up.”