Michael Saylor: Bitcoin Demand Outweighs Supply
MicroStrategy founder Michael Saylor revealed that the demand for Bitcoin investment products far exceeds the available supply. In an interview with CNBC, Saylor highlighted the impact of the U.S. Securities and Exchange Commission’s approval of cryptocurrency ETFs, stating that it led to a noticeable increase in quotes. According to Saylor, investors’ high interest in the new product has provided an upward momentum for the first cryptocurrency.
MicroStrategy’s Transformation into a Bitcoin Solutions Company
Saylor also announced that MicroStrategy will undergo a rebranding and transformation into a company focused on developing solutions based on Bitcoin technology. This strategic shift aligns with MicroStrategy’s approach of accumulating digital reserves and supporting the growth of the Bitcoin network. Saylor emphasized that their business model offers more flexibility compared to an investment trust, as they can develop software, generate cash flow, and accumulate Bitcoin reserves simultaneously.
MicroStrategy’s Bitcoin Holdings and Investments
In January 2024, MicroStrategy acquired 850 BTC for $37.2 million, bringing their total Bitcoin holdings to 190,000 BTC valued at $9.5 billion. The company’s latest financial report for Q4 2023 revealed an additional purchase of 31,755 BTC during that period, marking their largest quarterly investment in Bitcoin over the past three years.
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