Since it purchased Bitcoin, MicroStrategy is a prominent player in crypto. The company’s large bitcoin holdings has helped to cement its status as the biggest public Bitcoin holdings worldwide. It is notable that it had purchased a large amount of bitcoin during the bull rally of 2021. As the digital asset’s price has fallen, speculations have swirled about whether MicroStrategy will begin to dump its BTC.
MicroStrategy won’t sell BTC
MicroStrategy recently appointed a new Chief Financial Officer, Andrew Kang, who so far looks to be committed to the company’s strategy. In past interviews, Kang stated that the company would keep its BTC indefinitely and not plan to sell it. Kang reiterated the strategy during a recent interview. This was amid speculations.
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Kang shared his thoughts with The Wall Street Journal, where he said that MicroStrategy remains committed to its holdings of bitcoin. The CFO stated that MicroStrategy has never been under any pressure to give up any BTC.
Source: BTCUSD on TradingView.com| Source: BTCUSD on TradingView.com
Although its BTC investment is currently at loss, the company remains determined in its determination to retain its Bitcoin. MicroStrategy’s CEO Michael Saylor has also echoed this sentiment, posting to Twitter to assure that investors that MicroStrategy won’t dump its BTC despite the bear market. The company also said that they stand by bitcoin.
BTC will be worth millions
Michael Strategy, the CEO, is a Bitcoin maximalist. He was able to convince the board that BTC had been approved by his personal investments. Saylor is a vocal advocate of the idea that digital assets will become a significant asset in the near future. His estimate puts it at more than one million dollars.
In an interview with Yahoo Finance, Saylor stated that the digital asset he created is expected to reach $1 million. He also called it the “currency of the future” while emphasizing its superiority over other cryptocurrencies in the space.
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As for MicroStrategy, the CEO explained that when it comes to buying BTC, there is no “pricing goal”. According to him, the company will keep buying the cryptocurrency at local peak prices. The CEO also stated that the company sees bitcoin’s market capitalization reaching $100 trillion in the next day.
MicroStrategy currently has 129 218 BTC balance. MicroStrategy’s total bitcoin entry value is $3.97 trillion. Its holdings currently have a value of $3.924 Billion, which puts the company in a loss of approximately $46 M.
Featured image by Onewsonline. Chart via TradingView.com
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