Ever since it started buying bitcoin, MicroStrategy has become a major player in the crypto sector. Its holdings have seen it consolidate its place as a public company with the largest bitcoin holdings in the world. One notable fact is that the company bought a fair share of its BTC during the bull rallies of 2021. Hence, as the price of the digital asset begins to decline, there has been speculation as to whether Microstrategy is planning to start dumping its BTC.
MicroStrategy will not sell BTC
MicroStrategy recently appointed a new Chief Financial Officer, Andrew Kang, who appears committed to the company’s strategy so far. The firm has disclosed in the past that it will long-hold its BTC and had no plans to sell. Amidst many speculations, Kang has reiterated this strategy in a recent interview.
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Kang spoke with The Wall Street Journal, where he revealed that Microstrategy is still committed to keeping its bitcoin. More importantly, the CFO explained that the company is not facing any pressure from its shareholders to actually sell any of its BTC.
BTC starts another recovery trend | Source: BTCUSD on TradingView.com
Even with the loss of its BTC investment currently, it remains steadfast in its resolve to keep its bitcoin. This is also echoed by CEO Michael Saylor, who took to Twitter to reassure investors that Microstrategy will not dump any of its BTC even through a bear market. Having said that the firm stands with bitcoin.
BTC will be worth millions
CEO Michael Strate is a bitcoin maximalist whose personal investment was a basis for persuading the board to invest in BTC. Sailor has always been vocal about the fact that he believes digital assets will be worth a lot of money in the future, putting it at well over a million dollars.
In an interview with Yahoo Finance, Sailor revealed that he sees the leading digital asset touching $1 million in the future. He also called it the “currency of the future”, emphasizing its superiority over other cryptocurrencies in the space.
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As for MicroStrategy, the CEO explained that there is no “pricing target” when it comes to buying BTC. He believes the company will continue to buy the coin at its local peak. Interestingly, the CEO has also stated that he thinks the market cap of bitcoin will reach $100 trillion in a single day.
MicroStrategy currently has 129,218 BTC on its balance sheet. The total entry value of all its bitcoins is $3.97 billion. While the current value of its holdings is $3.924 billion, causing the company to lose about $46 million.
Featured image from Onewsonline, chart from TradingView.com
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