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MicroStrategy’s Saylor Lays Out Ways Firm Could Generate Yield From Its Massive Bitcoin Holdings
The CEO discussed several ways the software company could produce income from the 122,478 bitcoin on its balance sheet.
Updated May 11, 2023, 5:52 p.m. Published Dec 17, 2021, 9:53 p.m.
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MicroStrategy (MSTR) officials outlined some potential ways the company could generate yield from its enormous holdings of bitcoin during a virtual investor day Thursday.
- MicroStrategy, which makes business analytics software but whose market cap largely reflects its bitcoin holdings, owned 122,478 bitcoin as of Dec. 10, according to the company’s presentation. Those bitcoin were purchased since the third quarter of last year for roughly $3.7 billion in total, and are now worth roughly $5.8 billion.
- To generate income from its bitcoin, MicroStrategy could lend some portion of it to a “trustworthy counterparty,” CEO Michael Saylor said.
- The company could also put its bitcoin into some form of partnership with a big tech company or bank. “You could think of that as putting a lien on it,” Saylor explained.
- MicroStrategy might also look to put a mortgage against its bitcoin, generating long-term debt under “favorable circumstances.”
- Finally, MicroStrategy could develop “some kind of interesting application” for its bitcoin, said the CEO.
- Saylor noted in his presentation that no formal steps had been taken on any of these potential initiatives.
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Wall Street giant Apollo deepens crypto push with Morpho token deal
The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.
Що варто знати:
- Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
- The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
- The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
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