Michael Saylor Clarified MicroStrategy's Vision With Its Bitcoin Adoption Plan and Confirmed the Company Aims to Become a Bitcoin Bank
- Barbara StreisandOriginal
- 2024-10-12 04:32:10518browse
In a latest interview with analysts at research and brokerage firm Bernstein, the founder and former CEO of MicroStrategy, Michael Saylor, said that
Billionaire entrepreneur Michael Saylor has unveiled MicroStrategy’s grand vision in a recent interview with analysts from Bernstein. According to Saylor, the company's ultimate goal is to become a leading Bitcoin bank.
The former MicroStrategy CEO explained that the company aims to house $100-$150 billion in Bitcoin through various financial instruments like debt and stock, ultimately aiming to become a leading Bitcoin finance firm.
Due to trading at a premium, the company could reach a valuation of $300-$400 billion. As Bitcoin's value continues to rise, reaching millions per coin, Saylor envisions building a trillion-dollar company by expanding into various financial markets and acquiring more Bitcoin.
Furthermore, the Nasdaq-listed Bitcoin bull firm is aiming to create Bitcoin capital market instruments covering stocks, fixed income, convertible stocks, and preferred stocks to serve as powerful tools for long-term value storage and inflation hedging.
MicroStrategy, Bitcoin, & Profit
Since 2020, MicroStrategy, under the leadership of Michael Saylor, has been actively acquiring Bitcoin and currently holds 252,220 Bitcoins, valued at $15 billion at the current trade price. To date, the company has an unrealized profit of $5.1 billion from its Bitcoin holdings.
In 2022, Saylor stepped down from his role as the company's CEO, dedicating his full time to the company's Bitcoin-related projects.
Previously, Saylor mentioned plans to utilize the company's Bitcoin balance for other ventures or launch new Bitcoin-related services, but no further developments on these ideas have been made public.
Bitcoin price action
The current trade price of Bitcoin (BTC) is $62,000, up 2% in the past 24 hours.
With the U.S. presidential election news in the spotlight, the majority of investors are expecting a significant pump in the trade price of Bitcoin.
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