The co-founder of MicroStrategy, Michael Saylor, highlights the firm’s commitment to Bitcoin, comparing it to a “sportscar” in the heat of discussion about spot ETFs. Also, he compared the spot exchange-traded funds (ETFs) with “supertankers.”
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MicroStrategy’s Commitment to Bitcoin is Unshaken
In an interview with Bloomberg on August 2, the co-founder emphasizes MicroStrategy’s unshakable commitment to Bitcoin, despite the likelihood of future regulatory clearance for spot Bitcoin ETFs, providing investors an inviting way to obtain access to the developing cryptocurrency ecosystem. He stated that his company intends to continue adding Bitcoin to its balance sheet, including the possible proceeds of a $750 million share sale.
Bitcoin Surged 145% Since First BTC Purchase
He claims that Bitcoin has increased 145% since the company began its purchase plan in August 2020, and that his company uses leveraged investments to create profits that are handed on to shareholders.
Saylor’s strong statements follow MicroStrategy’s latest declaration that it firmly intends to continue integrating Bitcoin to its balance sheet.
MicroStrategy to Sell Stocks Worth $750M
During an earnings call on August 1, Saylor emphasized that when spot ETFs become available, MicroStrategy will continue to be “differentiated as a particular Bitcoin operating strategy”
He states: “We can tap into leverage because we’re an operating company, which an ETF couldn’t do so we view it as being beneficial to the entire ecosystem.”
He additionally reiterated that the business is interested in selling up to $750 million in class A common stock, as stated in a recent SEC filing, noting that the profits will be used “generally just to acquire Bitcoin.”
Owning 152K BTC
MicroStrategy dominates the world of finance with over 470 institutional shareholders and an overall valuation of $5.3 billion, according to Fintel.
Likewise, Saylor, the executive chairman of MicroStrategy, confirmed that his company owns close to 152,800 BTC, which is worth almost $4 billion.
Back in May, the billionaire also disclosed that his organization is not only intrigued by Ordinals, as well as by the possibility that the technology that has outraged the Bitcoin community may drive software innovation. Furthermore, on the PBD Podcast, he referred to Ordinals as a “catalyst” for Bitcoin acceptance.
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