MicroStrategy aims to become a “Bitcoin Bank,” Saylor says
Michael Saylor clarified MicroStrategy’s vision with its Bitcoin adoption plan and confirmed the company aims to become a Bitcoin Bank.
In a latest interview with analysts at research and brokerage firm Bernstein, the founder and former CEO of MicroStrategy, Michael Saylor, said that MicroStrategy’s main vision is to become a leading Bitcoin bank.
Saylor explained that the ultimate goal is for the company to become a leading Bitcoin finance firm, potentially reaching $100-$150 billion in Bitcoin through various financial instruments like debt and stock.
He suggested that by trading at a premium, the company could grow to be worth $300-$400 billion. As Bitcoin’s value increases to millions per coin, Saylor envisions building a trillion-dollar company by continually acquiring more Bitcoin and expanding into various financial markets.
Furthermore, he added that the Nasdaq-listed Bitcoin bull firm aims to create Bitcoin capital market instruments covering stocks, convertible stocks, fixed income, and preferred stocks, providing powerful tools for inflation hedging and long-term value storage.
MicroStrategy, Bitcoin, & Profit
Under the leadership of Michael Saylor, MicroStrategy has been actively acquiring Bitcoin since 2020 and currently holds 252,220 Bitcoins, valued at $15 billion at the current trade price. Currently, the company has an unrealized profit of $5.1 billion.
In 2022, Saylor stepped down from the company’s CEO position and decided to contribute his full time to the company’s Bitcoin-related projects.
In the past, Saylor shared ideas of using the company’s Bitcoin balance for other ventures or starting new Bitcoin-related services, but no further developments have been made public regarding these ideas.
Bitcoin price action
The current trade price of Bitcoin (BTC) is $62,000, which is 2% higher over the last 24 hours.
Amid U.S. presidential election-related news, the majority of investors are expecting a significant pump in the trade price of Bitcoin.
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