- Michael Saylor guaranteed that even if exchange-traded funds (ETFs) for spot-traded funds are approved in the future, the company will continue to focus on Bitcoin and remain an attractive option for investors.
- Saylor confirmed MicroStrategy’s commitment to Bitcoin, stating that the company will still be a different option for investors who want exposure to the cryptocurrency.
- MicroStrategy’s Bitcoin strategy has impressed the financial and technology communities, witnessing a remarkable 145% increase in Bitcoin’s value since the company initiated its buying approach in August 2020.
MicroStrategy continues to declare its commitment to Bitcoin and guarantees that it will acquire more BTC following the announcement of its second-quarter earnings report.
MicroStrategy Insists on Continuing Its Bitcoin Strategy
MicroStrategy’s founder, Michael Saylor, guaranteed that even if exchange-traded funds (ETFs) for spot-traded funds are approved in the future, the company will continue to focus on Bitcoin and remain an attractive option for investors.
In an interview on August 2nd, Michael Saylor confirmed MicroStrategy’s commitment to Bitcoin, stating that the company will still be a different option for investors who want exposure to the cryptocurrency. Even if spot Bitcoin ETFs are approved in the future, Saylor is confident that MicroStrategy’s offering will still stand out.
Michael Saylor stated the following in his statement:
“We will continue to buy Bitcoin as much as we can.”
Saylor’s statement came after confirming that the company aims to add more Bitcoin to its balance sheet, including potential revenues from the planned $750 million share sale.
In an earnings call on August 1st, Saylor made similar comments, emphasizing that MicroStrategy’s business strategy for Bitcoin will remain unique, even with the arrival of spot Bitcoin ETFs.
MicroStrategy’s Bold Bitcoin Strategy: Saylor’s Perspective on Spot ETFs and Bitcoin
MicroStrategy’s bold Bitcoin strategy has impressed the financial and technology communities, witnessing a remarkable 145% increase in Bitcoin’s value since the company initiated its buying approach in August 2020.
In a recent interview, Michael Saylor highlighted the unique advantage of MicroStrategy as a business that allows it to explore opportunities that traditional ETFs cannot access. Saylor metaphorically referred to MicroStrategy as a “sports car” in the cryptocurrency market and described spot ETFs as “supertankers.” He also mentioned that spot ETFs could be attractive for large hedge funds and significant government investments.
MicroStrategy, with over 470 institutional shareholders and a market value of $5.3 billion, holds a strong position. Despite analysts raising their chances of spot Bitcoin ETF approval in the US to 65%, Saylor aims to accumulate more Bitcoin in the coming quarters without losing hope.
Additionally, MicroStrategy plans to sell up to $750 million worth of Class A common stock, which will be used to purchase a significant amount of Bitcoin, as stated in a recent SEC filing.
