Strategy's Michael Saylor hints at resuming Bitcoin buying spree
As the world of cryptocurrency continues to evolve and gain mainstream acceptance, one company is making bold moves to secure its position in the market. MicroStrategy, a business intelligence firm, has been making headlines with its aggressive approach to investing in Bitcoin. In fact, the company has recently announced its plans to purchase even more BTC as part of its 21/21 strategy.
This strategy, which was first introduced in December 2020, involves purchasing a total of 21,454 BTC over the course of 21 years. This ambitious plan was initially met with skepticism, but MicroStrategy has proven its commitment by consistently adding to its Bitcoin holdings. In fact, the company has already acquired over 90,000 BTC, making it one of the largest institutional holders of the cryptocurrency.
MicroStrategy’s latest move to purchase more BTC comes on the heels of its successful $2 billion convertible note offering. This offering, which was completed in February 2021, was oversubscribed and allowed the company to raise funds to purchase even more Bitcoin. This decision has been met with praise from the cryptocurrency community, with many seeing it as a strong vote of confidence in the future of Bitcoin.
But why is MicroStrategy so bullish on Bitcoin? According to the company’s CEO, Michael Saylor, Bitcoin is the best store of value and the most liquid asset in the world. He believes that it has the potential to outperform traditional assets like gold and stocks, making it a smart investment for the company’s long-term strategy.
MicroStrategy’s bold moves in the world of cryptocurrency have not only solidified its position as a major player in the market, but also sparked a conversation about the role of Bitcoin in the future of finance. With more and more companies and institutions showing interest in Bitcoin, it’s clear that the cryptocurrency is here to stay and will continue to shape the financial landscape in the years to come.
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