MicroStrategy CEO Michael Saylor says that the company could produce revenue from its huge Bitcoin holdings.
What Happened: Saylor said the company has close to 122,478 Bitcoins, and it could lend some of it to a counterparty to generate income.
He also said that MicroStrategy could put its Bitcoin into some form of partnership with a big tech company or bank. “You could think of that as putting a lien on it,” Saylor said.
CEO went a step further, indicating that MicroStrategy could develop “some kind of interesting application” for its bitcoin.
He mentioned that the company may explore options including putting a mortgage against its bitcoin, generating long-term debt under “favorable circumstances.”
Largest Corporate Holder: Last week MicroStrategy declared that it purchased about 1,434 bitcoins between Nov. 29 and Dec. 8 for about $82.4 million in cash at an average price of about $57,477 per Bitcoin, the company said in a regulatory filing.
In September, Microstrategy emerged as the largest corporate holder of Bitcoin and during that time Saylor said, “Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
By Bibhu Pattnaik
© 2021 Pezou. Pezou does not provide investment advice. All rights reserved.
Pezou : MicroStrategy CEO and Bitcoin Bull Michael Saylor Says Company Could Generate Huge Income From Its Bitcoin Holdings