MicroStrategy: A Bitcoin Development Company
MicroStrategy, the business intelligence software company, has recently declared itself a Bitcoin development company. According to former CEO Michael Saylor, MicroStrategy is dedicated to the continuous growth and development of the Bitcoin network. This commitment is evident through their activities in the financial markets, advocacy, and technology innovation. Saylor emphasized that their goal is to do everything possible to expand the Bitcoin network.
Advantages of Being a Bitcoin Development Company
Saylor believes that MicroStrategy has a unique advantage as an operating entity in its transition to becoming a Bitcoin development company. The firm can venture into businesses beyond the scope of traditional trust companies and even offer services similar to those approved for spot Bitcoin ETFs by the SEC. This new line of business would involve creating applications and software to extract value from the Bitcoin network.
MicroStrategy’s Massive Bitcoin Holdings
Prior to becoming a major Bitcoin holder, MicroStrategy was primarily a software consulting venture for over three decades. In 2020, under Saylor’s leadership, the company shifted its treasury assets from cash to Bitcoin. This move had a significant impact on MicroStrategy’s stock price (MSTR), which has outperformed various assets including Bitcoin itself. Currently, MicroStrategy holds approximately 190,000 bitcoins with a market value of around $9 billion.
Future Plans for MicroStrategy
Despite its substantial Bitcoin holdings, MicroStrategy intends to continue its Bitcoin strategy while also prioritizing the financial well-being of its stakeholders.
By
By
By
By