MicroStrategy has surpassed its bitcoin holdings over the past year and is now the public company with the largest bitcoin holdings in the world. Currently, the company holds over 124,000 BTC on its balance sheet worth over $5 billion and remains in profit despite the recent downtrend. However, with such a large stake, one wonders what the company plans to do with the digital asset going forward.
Bitcoin is unstoppable
Michael Saylor, CEO of MicroStrategy, was there CNBC to talk about the future of the company, which had made a name for itself through its various bitcoin purchases. Saylor, a big proponent of the digital asset and BTC maximalist, spoke about what the company had planned for the future and what it intends to do with its Bitcoin holdings going forward.
Related Reading | Bitcoin is massively overvalued, billionaire “Bond King” Jeff Gundlach
The CEO first states that he remains a strong supporter of Bitcoin, which he describes as “compelling and unstoppable.” This has previously been highlighted by Saylor at various times with his public support for the digital asset. At every possible point in time, the CEO has said that Bitcoin is the answer to major problems like inflation and the leading digital property.
On the subject of regulation, Saylor states that he believes regulation would ultimately be beneficial for the digital asset. “Regulatory clarity will accelerate institutional adoption of bitcoin, and you will see large flows of capital flowing into the asset class if this continues,” the CEO said.
BTC trending at $43K | Source: BTCUSD on TradingView.com
What MicroStrategy has planned for the future
Regarding MicroStrategy’s future plan, the CEO stated that the company will continue as before. The company, which sells enterprise software, has been very profitable so far. With its Bitcoin plan, it has seen a surge in profitability and its shares have risen by a factor of four, according to Saylor.
Related Reading | Why sovereign nation-states could start acquiring bitcoin in 2022
“See, our long-term strategy is similar to Harvard University. We run a university, but we have a foundation. MicroStrategy sells enterprise software. We generate $100 million in cash flow a year — on a good year — and we reinvest that money into our foundation. Our foundation is 100% bitcoin.”
Saylor adds that MicroStrategy plans to acquire and hold Bitcoin as a balance sheet. As for operations, the company will continue to sell its enterprise software anywhere in the world.
Featured image from CoinDesk, chart from TradingView.com