MicroStrategy wants to buy more bitcoins

Yesterday MicroStrategy released its financial results for the second quarter of 2021.

Shortly before the unveiling conference, CEO Michael Saylor said the company intends to add even more bitcoins to its corporate balance sheet, despite already owning around 105,000. 

He said: 

“We continue to be pleased with the results of the implementation of our digital assets strategy. Our latest capital increase allowed us to expand our digital holdings, which now exceed 105,000 bitcoins. We intend to continue investing additional capital in our digital asset strategy in the future ”.

During the live video call with the investors, some mainstream journalists took a bit of targeting the company precisely because of its choice to invest so much in BTC, especially in light of the drop in the price in May and June, but Saylor and the CFO Phong Li reacted by stating that this is precisely the company’s macro strategy, that is to acquire and hold BTC, then helping the community to explain the correct functioning of Bitcoin to regulators, the public and the media themselves. 

Saylor also stated that he considered it wise to buy in this moment of accumulation, so much so that he was “satisfied” with the investment. 

On the other hand, up to now MicroStrategy in total has invested about 2 billion dollars to buy bitcoin, while the current value of all the BTCs in its possession exceeds 4 billion, or with a doubling of the investment in about a year. 

In fact, the CEO of the company believes that buying and holding bitcoin over the long term is a less risky investment strategy than many others, also because Bitcoin would be the most “held” financial asset in the history of the world. 

According to Saylor, China’s exit from this market is also to be considered a positive event for Bitcoin, since in this way mining is more decentralized. 

He has declared: 

“In the long run, the westernization of Bitcoin is good for Bitcoin, the US dollar and Western technology.”

It must be remembered that MicroStrategy’s first purchases of BTC were made last year, around this time (August), when the price of bitcoin was below $ 12,000. Since it is currently hovering around $ 40,000, it’s really hard to criticize Saylor and Phong Li’s choices for now.

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