Michael Saylor wants to acquire 'as much bitcoin as we can' with MicroStrategy poised to go on a buying spree
The company has used proceeds from stock and bond sales to buy more bitcoin in the past, and a Tuesdayshows that MicroStrategy could sell $750 million of class A common stock, to be used for either buying more bitcoin or other general corporate purposes.
As of July 31st, the software company held 152,800 bitcoins, worth of about $4.5 billion. That's after Saylor had added to the firm's holdings of the token that month,So far 2023, the world's largest cryptocurrency by market value has rallied 75%. Its impressive performance helped MicroStrategy post itsin two years. MicroStrategy stock, meanwhile, has climbed 189.45% in the same period.
"We don't charge them a fee to manage this bitcoin, we actually aim to write a yield; that's allowed us to actually generate 254% performance in the same time the bitcoin was up 145% [since last August]." market dominance to only grow
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