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MicroStrategy May Get Creative to Make Future Bitcoin Buys: CEO

The business intelligence company already has 70,784 bitcoins.

By Danny Nelson, Zack Voell
Updated Sep 14, 2021, 11:02 a.m. Published Jan 28, 2021, 9:31 p.m.
MicroStrategy CEO Michael Saylor
MicroStrategy CEO Michael Saylor

MicroStrategy (MSTR) CEO Michael Saylor pledged to keep pouring the business intelligence company's excess cash into bitcoin Thursday, telling investors his team will also "explore various approaches" for additional buys.

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"Going forward, we continue to plan to hold our bitcoin and invest additional excess cash flows in bitcoin. Additionally, we will explore various approaches to acquire additional bitcoin as part of our overall corporate strategy," Saylor said in the company's quarterly filing.

The company is currently sitting on a trove of 70,784 bitcoins. While most of that was purchased with excess cash, Saylor raised $650 million late last year in a debt offering to buy yet more bitcoin.

On the company's earnings call, Saylor added that shareholders can expect the software company to purchase more bitcoin, noting they will "continue to actively manage" their balance sheet. Holding bitcoin as a primary reserve asset and seeking to acquire more bitcoin are part of the corporate strategy, Saylor said.

Read more: MicroStrategy Splurges Another $650M on Latest Bitcoin Investment

“Regarding our bitcoin strategy, our pioneering decision to make bitcoin our primary treasury reserve asset has made MicroStrategy a thought leader in the cryptocurrency market and generated great interest in MicroStrategy as a corporation," Saylor said.

MicroStrategy will "do our best" to capitalize on the opportunity Saylor sees to become a leader in the cryptocurrency space, per his comments on the earnings call, saying he "feels good" about the "synergy" between his company's software product strategy and bitcoin strategy.

CFO Phong Le also said that, in addition to continuing to develop their software products, buying bitcoin is an "important part" of "enhancing" investor returns.

Saylor is "not overly concerned" with bitcoin's near- or mid-term volatility, and said he intends to "progressively acquire more bitcoin" at prices that "probably keep going up."

MicroStrategyMichael Saylor
Danny Nelson

Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

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Danny Nelson
Zack Voell

Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.

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