Recently, Michael J. Saylor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), talked about Bitcoin in the “Letter to Shareholders” section of his firm’s 2021 Annual Report.
MicroStrategy’s 2021 Annual Report was released on April 14. In the “Letter to Shareholders section”, said that their “parallel strategy to acquire and hold bitcoin has been a tremendous success.”
Track live crypto price of 10000+ coins!
And this is what he had to say about his company’s Bitcoin strategy:
“The novel treasury strategy we initiated in 2020 was just the start. Adopting bitcoin as our primary treasury reserve asset set us apart from conventional competitors and elevated our brand. MicroStrategy joined a select group of high-profile, publicly-traded early adopters, including Tesla and Block.
“As of April 14, 2022, MicroStrategy remains the largest publicly-traded corporate holder of bitcoin. MicroStrategy, together with its subsidiaries, holds 129,218 bitcoins acquired at an aggregate purchase price of $3.97 billion and an average purchase price per bitcoin of approximately $30,700.
“In 2021, we furthered our strategy of acquiring bitcoin using the proceeds of debt and equity transactions, as well as through excess cash flow from operations. We believe that our bitcoin strategy is complementary to our analytics software and services business, as it enhances brand awareness and provides opportunities to grow our enterprise customer base.
“Furthermore, the bitcoin strategy is an extension of our corporate lineage as an innovator and early adopter of revolutionary technologies. We helped pioneer data mining software in the 1980s. We were early to the web in the 1990s. In the 2000s, we were the first to espouse mobile analytics, as well as cloud-based analytics. As evidenced in our company history and successful track record, innovation is in our corporate DNA.
“In the coming year, we will continue to focus on key priorities to empower customers with cloud-based analytics and embedded analytics, and increase awareness of our bitcoin strategy.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: