{"id":15417,"date":"2021-07-29T22:08:41","date_gmt":"2021-07-29T22:08:41","guid":{"rendered":"http:\/\/ci02895e23b00025a3"},"modified":"2021-07-29T22:08:41","modified_gmt":"2021-07-29T22:08:41","slug":"microstrategy-q2-earnings-call-michael-saylor-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/microstrategy-q2-earnings-call-michael-saylor-bitcoin","title":{"rendered":"MicroStrategy Pledges to Add More Bitcoin to Corporate Balance Sheet"},"content":{"rendered":"
<\/div>

Publicly traded business intelligence firm MicroStrategy is pledging to add more Bitcoin to a corporate balance sheet that already includes 105,000 BTC worth roughly $4 billion. <\/p>\n

In a statement issued before the conference, MicroStrategy CEO Michael Saylor noted: \u201cWe continue to be pleased by the results of the implementation of our digital asset strategy. Our latest capital raise allowed us to expand our digital holdings, which now exceed 105,000 bitcoins. Going forward, we intend to continue to deploy additional capital into our digital asset strategy.\u201d<\/p>\n

Speaking during a live video call<\/a> with investors Thursday, CEO Michael Saylor and CFO Phong Li struck a defiant tone at a time when the mainstream press has taken aim at the firm for its focus on accumulating Bitcoin amid its recent market downturn. <\/p>\n

However, Saylor appeared unassuaged by criticism, stating: \u201cOur macro strategy is to acquire and to hold Bitcoin. We\u2019ll help explain Bitcoin to the regulators, to the public and to the media.\u201d<\/p>\n

\u201cWe think acquiring Bitcoin at this time is going to be a wise move. We feel like there is a land grab right now to acquire as much as we can,\u201d he said. <\/p>\n

Elsewhere, Saylor said he was \u201cpleased\u201d with the investment (to date the firm has invested over $2 billion in Bitcoin), while describing an improving economic environment for Bitcoin despite negative news catalysts that have seemingly deterred retail investors of late.<\/p>\n

\u201cThe China exodus was a really good thing for Bitcoin. The result was a decentralization of mining throughout the world,\u201d Saylor said. \u201cLong term, the Westernization of Bitcoin is good for Bitcoin, the U.S. dollar and Western technology.\u201d<\/p>\n

Still, in the question-and-answer portion of the event, Saylor faced no shortage of questions, including whether the company would consider investing in other \u201ccrypto assets” including Ethereum.<\/p>\n

Saylor replied, \u201cOur strategy is to focus on Bitcoin. I can plug Bitcoin into the entire digital economy and it makes everything better. Bitcoin fixes everything.\u201d<\/p>\n

\u201cThe least risky, most diversified investment strategy is to simply hold Bitcoin.\u201d<\/p>\n

<\/figure>\n

For his part, Phong Li backed Saylor\u2019s statements arguing the investment has \u201cgenerated substantial value for shareholders\u201d and noting that the company is still in the early stages of deploying its Bitcoin strategy.<\/p>\n

\u201cBitcoin is the most widely held financial asset in the history of the world, growing at the fastest rate,\u201d Saylor said. <\/p>\n

“If you roll back the clock twelve months it\u2019s hard to find any publicly traded companies with Bitcoin on the balance sheet. Now you\u2019ve got over a dozen companies with billions of dollars in Bitcoin on the balance sheets.\u201d<\/p>\n

On the future of MicroStrategy, Saylor stated, \u201cGoing forward you can expect we will purchase additional bitcoin.”<\/p>\n","protected":false},"excerpt":{"rendered":"

CEO Michael Saylor struck a defiant tone during a Q2 investor call, pledging to add more Bitcoin to its balance sheet while continuing to advocate for the cryptocurrency.<\/p>\n","protected":false},"author":2936,"featured_media":15419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-15417","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"author_data":{"id":2936,"name":"Alex Mcshane","nicename":"bitcoin-journalist-alex-mcshane","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/3dd6bbed938cbadeed734dfff7b3964c2a43e2784e2d9ead80b8d5476f8209f1?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/memed-io-output-1.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2936"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=15417"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/15419"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=15417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=15417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=15417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}