The head of MicroStrategy called the successful policy of buying bitcoinTia Price
An innovative strategy for buying and holding bitcoin will provide software provider MicroStrategy with a “bright future” for the coming years. Michael Saylor, CEO of the company, stated this in letter shareholders accompanying the annual report.
“In 2020, we took bold steps to protect the company, our people, and preserve shareholder value in the face of the COVID-19 pandemic. […] We accepted bitcoin as the main treasury reserve asset,” he recalled.
In 2021, MicroStrategy expanded its program to buy the first cryptocurrency. The company started acquiring an asset with share capital, debt financing and a portion of the profits, Sailor noted.
“As of April 14, 2022, MicroStrategy remains the largest holder of bitcoin among public companies. MicroStrategy, together with affiliates, owns 129,218 BTC, purchased for $3.97 billion at an average price of about $30,700,” the head of the firm said.
According to him, the company’s cryptocurrency strategy not only increased its value, but also led to greater recognition, helping to attract customers.
“We continue to innovate and provide superior technology. We intend to capitalize on several market trends in the analytics industry that we believe will deliver exceptional value to our clients. The strategy of buying and holding bitcoin continues to elevate our brand and accelerate our mission,” said Saylor.
Recall that in early 2022, the head of the company confirmed commitment to continue buying cryptocurrenciesdespite the market correction. Later this position supported by the financial director of the company Phong Le.
In April, Saylor, in a letter to the U.S. Securities and Exchange Commission, referred to this policy as MicroStrategy “extremely successful”.