In a letter to stockholders on Thursday, MicroStrategy’s CEO, Michael Saylor, reiterated his commitment to maintaining the company’s years-long bitcoin buying spree. The purpose of the paper was to lay the groundwork for the Annual Meeting of Stockholders, which will take place on May 22nd, 2022.
According to the CEO, MicroStrategy, the publicly traded business with the biggest bitcoin holdings, will continue to buy more BTC and expand its software intelligence services to a broader customer base.
Saylor described the company’s bitcoin approach as “complementary to our analytics software and services business,” a strategy that will help the company’s enterprise customer base develop. Aside from bolstering its commercial strategy to pursue the goal of “Intelligence everywhere,” the corporation hailed its parallel strategy to purchase and hold bitcoin as a huge accomplishment.
Since 2011, Saylor’s BTC acquisition strategy has expanded to include the proceeds of debt and equity transactions. Excess cash flow from activities allowed the business intelligence firm to start accumulating bitcoin in August of 2020. Later, the business accelerated its acquisition by using convertible note offers, stock offerings, and crypto-collateralized loans to fund its treasury with more bitcoins.
Saylor further stated that “innovation is in our corporate DNA” at his organisation. According to him, MicroStrategy pioneered data mining tools in the 1980s, was a forerunner in the web revolution in the 1990s, and advocated mobile analytics and cloud-based analytics in the 2000s.
MicroStrategy and its subsidiaries presently have 129,218 bitcoins on their books, with a total purchase cost of $3.97 billion and an average price of $30,700 per coin.
Read more: MicroStrategy acquires an additional 4,167 Bitcoins
