2021-1-29 17:17 |
Tens of thousands of Bitcoin (BTC) are not enough for MicroStrategy, looking for “various approaches” to add more Bitcoin as a Treasury reserve asset. Speaking in a virtual conference on the company’s quarterly filings, MicroStrategy CEO Michael Saylor said the company would stockpile its Bitcoin stash using its excess cash as “part of their corporate strategy.”
“We will explore various approaches to acquire additional bitcoin as part of our overall corporate strategy,” Saylor said.
The publicly-traded company has already purchased over 70,000 BTC as a reserve asset in its treasury – currently worth over $2.3 billion. Recently, Michael revealed the company added $10 million worth of BTC at an average price of $31,000, further bolstering their BTC bet.
MicroStrategy’s Bitcoin strategy has molded the company into a “thought leader in the space,” creating great interest in the company. Morgan Stanley added its stake to 10.9% following the recent growth in the business intelligence firm’s stock price. Notwithstanding, Michael Saylor will be teaching an online course this February, ‘Bitcoin For Corporations’, to explain to firms how to add the asset to their Treasuries as well.
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