MicroStrategy Pledges to Add More Bitcoin to Corporate Balance Sheet
CEO Michael Saylor struck a defiant tone during a Q2 investor call, pledging to add more Bitcoin to its balance sheet while continuing to advocate for the cryptocurrency.Publicly traded business intelligence firm MicroStrategy is pledging to add more Bitcoin to a corporate balance sheet that already includes 105,000 BTC worth roughly $4 billion. In a statement issued before the conference, MicroStrategy CEO Michael Saylor noted: “We continue to be pleased by the results of the implementation of our digital asset strategy. Our latest capital raise allowed us to expand our digital holdings,....
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MicroStrategy has been bullish from the start evidenced by its bitcoin purchases. The firm owns over 110 bitcoins and has deepened its crypto bet at various times during the past year. The tech firm has continuously raised money at various points to purchase more BTC to add to its balance sheet and there is no sign of stopping anytime soon according to CEO Michael Saylor. Saylor has, numerous times, reiterated the company’s bullish stance on BTC. The CEO himself is a bitcoin maximalist with a personal and corporate stake in the digital asset. The company has so far raised almost $400....
MicroStrategy’s approach has got the Association of Corporate Treasurers and IKEA thinking.
Having over 90,000 BTC on the balance sheet could see a company’s stock blacklisted by banks that remain crypto detractors. MicroStrategy’s continuous Bitcoin acquisition has drawn the ire of investment banking giant HSBC. Despite being one of the largest business intelligence firms in the world, HSBC has stated that MicroStrategy is now a “virtual currency product,” a designation akin to the pseudo-Bitcoin exchange-traded fund status attached to the company on account of its sizable Bitcoin (BTC) balance sheet.Since August 2020, MicroStrategy has embarked on a Bitcoin acquisition spree....
On Tuesday, the publicly-listed business intelligence company, Microstrategy, announced the purchase of 229 bitcoins adding to the firm’s current stash of crypto. The company’s CEO Michael Saylor told his Twitter followers that Microstrategy now holds 92,079 bitcoins. Microstrategy Stocks Up on More Bitcoin, Buys $10 Million Worth to the Balance Sheet Microstrategy (Nasdaq: MSTR) has stepped in and bought the dip once again. On Tuesday morning (ET), the firm’s chief executive officer Michael Saylor shared the announcement on Twitter as he usually does. Alongside the....
Digital assets or the widely known as Bitcoin has gained immense popularity, a lot of companies have started to incorporate cryptocurrencies into their ecosystem. After MicroStrategy, Octagon Networks reportedly converted their whole balance sheet to Bitcoin. Octagon Networks is a cybersecurity company which operates out of Addis Ababa and San Francisco. The company mentioned that […]