What’s In Store For MicroStrategy Going Forward? CEO Michael Saylor Reveals
MicroStrategy has been topping its bitcoin holdings in the last year and is now the public company with the largest bitcoin holdings in the world. Presently, the firm holds over 124K BTC on its balance sheet, worth over $5 billion, remaining in profit despite the recent downtrend. However, with such a large holding, one tends to wonder what the company plans to do with the digital asset in the future.Bitcoin Is Unstoppable
MicroStrategy CEO Michael Saylor was on CNBC to talk about the future of the firm which had made a name for itself due to its various bitcoin buys. Saylor who is a big proponent of the digital asset and a BTC maximalist talked about what the firm had planned for the future, as well as what it planned to do with its bitcoin holdings going forward.
Related Reading | Bitcoin Is Massively Overvalued, Billionaire ’Bond King’ Jeff Gundlach
The CEO starts out by explaining that he remains a strong supporter of bitcoin, which he refers to as “compelling and unstoppable.” This has previously been highlighted at various times by Saylor with his public support for the digital asset. At every possible moment, the CEO has said that bitcoin is the answer to major problems like inflation and is the leading digital property.
On the topic of regulation, Saylor explains that he believes that regulation would, in the end, be beneficial for the digital asset. “The regulatory clarity is going to accelerate institutional adoption of bitcoin and you’re going to see large flows of capital enter the asset class as this continues,” the CEO said.BTC trending at $43K | Source: BTCUSD on TradingView.com What MicroStrategy Has Planned For The Future
As for MicroStrategy’s plan for the future, the CEO explained that the company will continue to operate as it always has. The company which sells enterprise software has been very profitable so far. With its bitcoin plan, it has seen an uptick in profitability and its stock is up by a factor of four, according to Saylor.
Related Reading | Why Sovereign Nation States May Begin Acquiring Bitcoin In 2022
“Look, our long term strategy is kind of like Harvard University. We’re running a university but we have an endowment. MicroStrategy is selling enterprise software. We generate $100 million in cash flow a year – in a good year – and we are reinvesting that cash in our endowment. Our endowment is 100% bitcoin.”
Saylor adds that MicroStrategy plans to acquire and hold bitcoin as a balance sheet. As for the operations, the company will continue to sell its enterprise software everywhere in the world.Featured image from CoinDesk, chart from TradingView.com