In a letter to Microstrategy stockholders, bitcoin bull Michael Saylor stated his desire to continue the bitcoin strategy.
In a letter to MicroStrategy stockholders on Thursday, CEO Micheal Saylor reiterated the company’s commitment to maintaining its years-long bitcoin buying binge. The purpose of the paper was to lay the groundwork for the Annual Meeting of Stockholders, which is slated for May 22nd, 2022.
The CEO also stated that MicroStrategy, the publicly traded business with the biggest bitcoin holdings, would continue to buy more BTC and offer its software intelligence services to a broader customer base.
Saylor has increased his bet on Bitcoin.
Saylor described the company’s bitcoin strategy as “complementary to our analytics software and services business,” implying that it will help the company’s enterprise customer base grow. In addition to bolstering its commercial strategy to achieve the goal of Intelligence Everywhere, the corporation saw its parallel strategy to acquire and hold bitcoin as a huge accomplishment.
Since 2011, Saylor’s BTC acquisition strategy has expanded to include the proceeds of debt and equity transactions. Through extra cash flow from activities, the business intelligence firm began accumulating bitcoin in August of 2020.
Later, the corporation accelerated its accumulation by using convertible note offers, stock offerings, and crypto-collateralized loans to buy more bitcoins for its treasury.
Saylor further stated that “innovation is in our corporate DNA” at his organization. He emphasized that MicroStrategy pioneered data mining tools in the 1980s, was a pioneer in the web revolution in the 1990s, and advocated for mobile analytics and cloud-based analytics in the 2000s.
MicroStrategy’s balance sheet shows 129,218 BTC.
MicroStrategy and its subsidiaries presently have 129,218 bitcoins on their balance sheet, with a total purchase cost of $3.97 billion, or $30,700 per coin.
Last Thursday, during a panel discussion with Ark Invest’s CEO Cathie Wood at the Miami 2022 Bitcoin conference, Saylor stated that he was “more positive than ever on Bitcoin” and agreed with Wood’s prediction that BTC might reach $1 million per coin by 2030.