MicroStrategy Will Not Dump Any Of Its Bitcoin, CFO Reveals
May 20 2022 - 7:00PM
NEWSBTC
MicroStrategy has become a major player in the crypto realm since
it began purchasing Bitcoin. Its holdings have seen it solidify its
place as the public company with the largest bitcoin holdings in
the world. A notable fact is that the company had bought a good
chunk of its BTC during the bull rallies of 2021. So as the price
of the digital asset has begun to decline, there have been
speculations regarding whether MicroStrategy plans to begin dumping
its BTC. MicroStrategy Will Not Sell BTC MicroStrategy recently
appointed a new Chief Financial Officer, Andrew Kang, who so far
looks to be committed to the company’s strategy. The firm has
revealed in the past that it would hold its BTC for the long term
and had no plans to sell. Kang has reiterated this strategy in a
recent interview amid many speculations. Related Reading
| More Stress For El Salvador As Bitcoin Dips To $29,000 Kang
spoke with The Wall Street Journal where he revealed that
MicroStrategy was still committed to holding its bitcoin. More
importantly, the CFO explained that the company has not been facing
any kind of pressure from its shareholders to actually sell off any
of its BTC. BTC starts another recovery trend | Source: BTCUSD on
TradingView.com Even with its BTC investment currently in the loss,
it remains steadfast in its resolve to hold its Bitcoin. This has
also been echoed by CEO Michael Saylor who took to Twitter to
assure investors that MicroStrategy will not dump any of its BTC
even through the bear market. Adding that the firm continues to
stand with bitcoin. BTC Will Be Worth Millions CEO Michael Strategy
is a bitcoin maximalist whose personal investment had been one of
the basis for convincing the board to invest in BTC. Saylor has
always been vocal about the fact that he believes the digital asset
will be worth a lot of money in the future, putting it at over a
million dollars. Saylor revealed in an interview with Yahoo Finance
that he sees the pioneer digital asset touching as high as $1
million in the future. He also called it the “currency of the
future” while emphasizing its superiority over other
cryptocurrencies in the space. Related Reading | Exchange
Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover As
for MicroStrategy, the CEO explained that when it comes to buying
BTC, there is no “pricing goal”. He believes that the company will
continue to buy the coin at its local peaks. Interestingly, the CEO
has also said that he sees the market cap of bitcoin reaching as
high as $100 trillion one day. MicroStrategy currently holds
129,218 BTC on its balance sheet. The total entry value for all of
its bitcoin is $3.97 billion. While the current value of its
holdings is $3.924 billion, putting the company at about $46
million in the loss. Featured image from Onewsonline, chart from
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