- Microstrategy CEO expresses commitment to amass substantial quantity of Bitcoin.
- Microstrategy’s investment strategy results in impressive performance increase of 254%.
- Microstrategy unveils Q2 report with significant surge in net income.
During a recent interview with Bloomberg, Michael Saylor, the esteemed CEO of Microstrategy, expressed his unwavering commitment to amassing a substantial quantity of Bitcoin on behalf of their esteemed shareholders. Saylor emphasized the company’s relentless pursuit of innovative strategies, ensuring every endeavor undertaken is creative. He further affirmed their resolute determination to procure as much Bitcoin as feasibly possible, always mindful of prevailing market conditions and consistently striving to execute these acquisitions to maximize value for their esteemed shareholders.
When questioned about the recently released earnings report, Saylor emphasized that their main objective with the proceeds was to acquire Bitcoin. He highlighted the remarkable growth of Bitcoin, which has surged by 145% since August 2020, marking the beginning of their strategic approach three years ago. Furthermore, he explained that their investment strategy involved leveraging Bitcoin, which, combined with providing shareholders with a yield, resulted in an impressive performance increase of 254%.
The CEO further emphasized that, despite regulatory approval for the first US exchange-traded fund to possess the cryptocurrency directly, investors would still view his company as a representative of Bitcoin. Additionally, Saylor highlighted that a spot ETF would greatly benefit Bitcoin-associated enterprises, as it would attract substantial investments from prominent hedge funds, amounting to billions of dollars.
Yesterday, Microstrategy, a prominent player in the crypto industry, unveiled its Q2 report. The report reveals a net income of $22.2 million for the second quarter, showcasing a significant surge compared to the previous year’s loss.
During the initial quarter of this year, Microstrategy successfully procured 12,800 Bitcoins, amounting to a substantial $361.4 million. Subsequently, in the second quarter, the company further bolstered its Bitcoin holdings by acquiring 12,333 coins. In the report, Andrew Kang, the Chief Financial Officer of Microstrategy, highlighted the company’s adeptness in raising capital through their at-the-market equity program. The funds were then strategically utilized to augment their Bitcoin reserves, fortifying their balance sheet.
