Saylor suggests companies adopt Bitcoin to increase company valuation
The Microstrategy former CEO Michael Saylor explained how he achieved huge success for his company via easy Bitcoin adoption strategy.
Microstrategy is a US-based Nasdaq-listed business intelligence firm that is popular in the Bitcoin market because of the company’s big Bitcoin balance.
On 30 April 2024, Michael Saylor, the former CEO of Microstrategy, informed his followers that his company purchased $7.8 million worth of Bitcoin. With this new purchase, the company added 122 new BTC to the company’s balance sheet.
So at this current date, this company is holding a total of 214,400 BTC.
At this current BTC holding, the company has 74% unrealised profit which is equal to $5.59 billion.
With another tweet, Saylor informed the other companies to see how the stock price of Microstrategy ($MSTR) surged by nearly 1,000% following the adoption of Bitcoin.
Indirectly, Saylor suggested other public companies jump on the Bitcoin bandwagon to gain a significant pump in their corresponding stock prices.
In the past couple of years, Saylor talked about the potential Bitcoin balance use plan several times. He also advocated the use of Bitcoin ordinals (BRC20) protocol to bring unique use cases of the Bitcoin blockchain network but so far no official announcement has come to the public domain regarding the Bitcoin app, tool, etc.
In the past, some people raised future concerns over the bulk Bitcoin buy activities of Microstrategy firm but some Bitcoin advocates supported Microstrategy & said that big BTC buys will end up in a very big buy pressure among the top companies in the future.
Bitcoin price
The current trade price of Bitcoin (BTC) is $60,940 & this trade price is 3.12% down over the last 24 hours.
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