What’s In Store For MicroStrategy Going Forward? CEO Michael Saylor Reveals

MicroStrategy has been topping its bitcoin holdings in the last year and is now the public company with the largest bitcoin holdings in the world. Presently, the firm holds over 124K BTC on its balance sheet, worth over $5 billion, remaining in profit despite the recent downtrend. However, with such a large holding, one tends to wonder what the company plans to do with the digital asset in the future.

Bitcoin Is Unstoppable

MicroStrategy CEO Michael Saylor was on CNBC to talk about the future of the firm which had made a name for itself due to its various bitcoin buys. Saylor who is a big proponent of the digital asset and a BTC maximalist talked about what the firm had planned for the future, as well as what it planned to do with its bitcoin holdings going forward.

Related Reading | Bitcoin Is Massively Overvalued, Billionaire ’Bond King’ Jeff Gundlach

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The CEO starts out by explaining that he remains a strong supporter of bitcoin, which he refers to as “compelling and unstoppable.” This has previously been highlighted at various times by Saylor with his public support for the digital asset. At every possible moment, the CEO has said that bitcoin is the answer to major problems like inflation and is the leading digital property.

On the topic of regulation, Saylor explains that he believes that regulation would, in the end, be beneficial for the digital asset. “The regulatory clarity is going to accelerate institutional adoption of bitcoin and you’re going to see large flows of capital enter the asset class as this continues,” the CEO said.

Bitcoin price chart from TradingView.com

Get 110 USDT Futures Bonus for FREE!
BTC trending at $43K | Source: BTCUSD on TradingView.com

What MicroStrategy Has Planned For The Future

As for MicroStrategy’s plan for the future, the CEO explained that the company will continue to operate as it always has. The company which sells enterprise software has been very profitable so far. With its bitcoin plan, it has seen an uptick in profitability and its stock is up by a factor of four, according to Saylor.

Related Reading | Why Sovereign Nation States May Begin Acquiring Bitcoin In 2022

“Look, our long term strategy is kind of like Harvard University. We’re running a university but we have an endowment. MicroStrategy is selling enterprise software. We generate $100 million in cash flow a year – in a good year – and we are reinvesting that cash in our endowment. Our endowment is 100% bitcoin.”

Saylor adds that MicroStrategy plans to acquire and hold bitcoin as a balance sheet. As for the operations, the company will continue to sell its enterprise software everywhere in the world.

Featured image from CoinDesk, chart from TradingView.com


Tagged : / / / / / / /

Bitcoin Is Massively Overvalued, Billionaire ’Bond King’ Jeff Gundlach

Billionaire Jeff Gundlach has shared his thoughts around bitcoin, saying that the digital asset is massively overvalued. Gundlach who is also known as the ‘Bond King’ is the founder of the investment firm, DoubleLine Capital.

Bitcoin which has suffered numerous dips that have caused it to lose over 30% of its all-time high value continues to struggle, but even at these low prices, the billionaire does not believe that the cryptocurrency is actually worth its current value.

Related Reading | ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Is A Spectator’s Market

Gundlach appeared on Yahoo! Finance to talk about a number of issues surrounding the financial markets. The billionaire is infamous among bond investors but talked about why bitcoin remains too high to purchase. For Gundlach, buying bitcoin now is a bad business move. This is because people are getting out as the price is falling and would cause the digital asset to become even more volatile.

However, the billionaire did not warn against purchasing the asset at all. In fact, Gundlach gives a price range at which he thinks that buying bitcoin would be a great move. He explained that investors should purchase the digital asset when it loses another $15,000 from its current value, putting the sweet spot for purchase at $25,000.

“Bitcoin is for speculators at the present moment. I would advise against buying it. It will be volatile as people get out. Maybe you should buy it at $25,000.”

Gundlach, who has always been a big proponent of bonds, continued to push for it. He explains that bitcoin is for momentum investors, which he likened to FAANG stocks, and for him who is an anti-momentum investor, bonds are the perfect fit, saying, “Bonds fit my culture of cowardice.”

Get 110 USDT Futures Bonus for FREE!

“If you’re a momentum investor, it’s like playing roulette with a strategy that works as long as the wheel doesn’t come up on the zero or double zero. You’re making money, making money, and then eventually you get a double zero and you’re busted. Momentum investors tend to go out in a blaze of glory.”

Bitcoin price chart from TradingView.com

BTC trading at $43,750 | Source: BTCUSD on TradingView.com

NFTs Are Junky Stuff

Bitcoin was not the only crypto asset that Gundlach touched on in his interview. The billionaire also focused NFTs, a fast-growing space that has gone from obscurity to one of the biggest markets in the crypto space in a matter of a year.

He explained that the growth of NFTs was too fast and like bitcoin, was an investment for “investors on large doses of steroids.”

Related Reading | Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation

Gundlach further said that for him, when it comes to buying things like art, he would only buy quality. Comparing it to real estate, he states that “You should really buy the highest quality, as these assets can appreciate very steadily.”

As the financial markets await a decision from the Fed, the billionaire also warned that the Fed could send the economy into recession if it tightened its monetary policy.

Featured image from Bitcoin News, chart from TradingView.com


Tagged : / / / / / /

By The Numbers: Here’s How Much Bitcoin Michael Saylor Holds

Michael Saylor is one of the most vocal supporters of bitcoin and is CEO of MicroStrategy, the company with the largest bitcoin holdings in the world. The CEO has always been a big proponent of the digital asset, taking both a personal and professional stake in the asset.

Saylor had revealed in 2020 that he holds over 17,000 BTC. At this time, bitcoin was still trading below $30,000 and Saylor had said that he got all of his holdings for an average of $9,882. Bitcoin has since grown over 100% since the CEO made his big reveal, pushing the value of Saylor’s holdings to almost $1 billion.

Related Reading | December Turns Red For Bitcoin As Market-Wide Sell-Offs Continue

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

How Much Is Saylor’s BTC Worth?

Michael Saylor told The Information that he does not believe that anyone should sell any of their bitcoin and that he has actually never sold any of his bitcoin. In his 2020 reveal, he said that he held a total of $17,732 BTC, all of which he had purchased before his company MicroStrategy, had purchased its first bitcoin. At an average trading price of $13,900, Saylor’s holdings were worth a little over $246 million.

“Some have asked how much #BTC I own. I personally #hodl 17,732 BTC which I bought at $9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.”

Bitcoin is now trading significantly higher than it was when Saylor had made his big reveal, growing as high as $69k at his peak. Presently, the price of BTC is revolving around $48,000. At this present value, the CEO’s bitcoin holdings are now worth over $850 million.

Bitcoin price chart from TradingView.com

Get 110 USDT Futures Bonus for FREE!
BTC begins recovery trend | Source: BTCUSD on TradingView.com

He intends to continue holding these coins as he believes that bitcoin is headed for $6 million apiece. This means that the CEO still expects the cryptocurrency to grow another 12,000% from its current value.

How Much Bitcoin Does MicroStrategy Own?

MicroStrategy boasts the largest bitcoin holdings of any public company. The company had begun accumulating bitcoin in 2019 and has since garnered 122,478 as of its last purchase, bringing the total value of its holdings to over $6.1 billion. All of its BTC were purchased at an average price of $29,861, putting the company firmly in profit at the current value of the asset.

Related Reading | Crypto Research Analyst Puts Ethereum At $9,000 In Six Months

However, its CEO had begun purchasing bitcoin before the company. Saylor revealed that he had all of his BTC before MicroStrategy had bought its first bitcoin, adding that his personal holdings were shown to convince the company to begin investing in the digital asset.

The company, like its CEO, has no plans to sell is BTC. Instead, it has begun looking towards new ways to generate yield from the investment, which Saylor revealed at an investor day presentation held last week.

Featured image from Business Insider, chart from TradingView.com


Tagged : / / / / / /

Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why He’s ‘Very Bullish’

Billionaire Orlando Bravo recently revealed his stance on crypto. Talking to CNBC, Bravo revealed that he indeed held bitcoin and held a very bullish stance on the future of the digital asset. The billionaire appear at the Delivering Alpha conference where he openly expressed his love for crypto. Bravo highlight some of the best features of cryptocurrencies, exclaiming, “How could you not love crypto?”

Bitcoin Is Here To Stay

Although already quite valuable, the billionaire sees more growth in the future of the currency. Institutional investors are yet to completely dive into the space and Bravo explained that with more institutional adoption will come a surge in the value of the digital asset.

Related Reading | JPMorgan CEO Doesn’t Care If Bitcoin Grows 10X In Five Years

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Being able to completely operate outside the purview of the government has been one of the major drivers of bitcoin growth. It has provided investors the opportunity to invest with amounts that would otherwise have seen them locked out of traditional investment avenues. Providing a major pull for younger investors who would rather take control of their financial investments.

Besides being personally owning bitcoin, Bravo’s equity firm Thoma Bravo is also invested in the crypto space. Thoma Bravo participated in a recent funding round carried out by the fast-growing crypto exchange FTX Trading. This puts the billionaire in a position where he is both personally and professionally invested in crypto. But it doesn’t end there. The fund manager also sees great potential in blockchain technology and said it “sometimes provides better use cases than data-based software.”

Bitcoin price chart from TradingView.com

Bitcoin price chart from TradingView.com

Get 110 USDT Futures Bonus for FREE!
BTC price trading in the mid-$43K | Source: BTCUSD on TradingView.com

Why Bravo Is Bullish

Bravo’s bullish stance on crypto mainly boils down to one thing; adoption. It is estimated that less than 10% of the world’s population knows about bitcoin. With bitcoin’s growth being likened to that of the internet, there is going to be a major explosion in adoption in the next five years. The billionaire pointed that the digital asset will only continue to grow as more people adopt it.

“For me, it’s pretty simple. More people are going to use it in the future than today, and it’s going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I’m very bullish.”

Related Reading | Verifone Brings Bitcoin Payments To Thousands Of Merchants Across The U.S.

When asked if he thought crypto was here to stay, Bravo had enthusiastically replied, “absolutely.” He explained that inflation and transaction fee rates will drive people to bitcoin.

The billionaire declined to comment on future price predictions for the asset saying, “I’m not going to give you a number because looking at the fundamental value here is very difficult.” But added that bitcoin’s finite supply coupled with its use cases and growing adoption will be positive for the value of the digital asset going forward.

Featured image from The Guardian, chart from TradinginView.com


Tagged : / / / / / / / /
Bitcoin (BTC) $ 43,934.77 0.82%
Ethereum (ETH) $ 2,355.51 0.68%
Litecoin (LTC) $ 77.68 1.20%
Bitcoin Cash (BCH) $ 254.20 1.11%