Michael Saylor Buy More Bitcoin – We Have Done The Research
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Michael Saylor Buys More Bitcoin Worth $250 Million And His Thoughts on the SEC’s Gary Gensler
In this interview, Michael Saylor revealed why his company, MicroStrategy recently bought more Bitcoin. He also shared his thoughts on the policymakers’ views on Bitcoin. Here is the summary of the content:
Michael Saylor was asked to explain why his company bought more Bitcoin. He had this to say:
“A year ago, we had a $500 million software business and $500 million in cash yield generating zero percent yield. Today, we have a $500 million software business growing 10% a year and a $5 billion Bitcoin business that’s been growing north of 100% a year.”
Saylor added that his strategy was to acquire and hold Bitcoin using equity offerings with convertible debt and debt junk bonds and cash flows where appropriate:
“We saw this as a great opportunity. We sold over the past quarter about $400 million worth of equity.”
Sharing his bullish views on Bitcoin, Saylor said when the price rises by another $10,000 or goes to $100,000 or even a million, his shareholders will keep buying Bitcoin, even when there’s no one buying
Responding to SEC Chair Gary Gensler’s expected crackdown on cryptocurrencies, Saylor insisted that the winner is Bitcoin. He explains:
“The consensus that’s emerging is that Bitcoin is a commodity, and Bitcoin is a property.” And if your use cases are to buy Bitcoin as a long-term store of value, and there’s broad-based consensus and support across Congress, there’s a need for clarity.”
Saylor noted that there’s a consensus that people think the innovation of cryptocurrencies could be beneficial for the next 100 years. They also believe that cryptos are good for the industry and the Western world.
Saylor maintained that the senator in question was explaining that we would all benefit from the clarity, so the SEC would probably agree with them. And there’ll be more clarity about all digital assets.”
According to Saylor, clarity will reduce the volatility in the Bitcoin space and increase public confidence. Moreover, it’ll accelerate institutional adoption, and these are all good for the industry.
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