On March 12, Michael Saylor, CEO of MicroStrategy, announced that the company had collected an additional 362 bitcoin, worth $ 15 million, adding to its massive treasury of BTC. At this point, Saylor and MicroStrategy have shown the market that they believe the dollar price relative to bitcoin is irrelevant – they will collect bitcoin at any price.
The strategy behind this feverish buildup is actually quite simple. Saylor has articulated that he believes the best way forward for the company is to do nothing but focus on its strengths: selling business intelligence software, taking the profits, and storing value … just not in dollars.
In an interview late last year, CNBC host Melissa Lee Saylor posed the question, “Are you a software company or a bitcoin hedge fund?” Saylor responded decisively.
“We do have a software company that generates money, but if we just swipe the money in fiat currency and let it go down 15 percent per year, we would lose as much on the balance sheet as we have off the income statement. generated, that didn’t make sense, ”he replied.[Bitcoin] It seems it is emerging as the primary treasury reserve for those looking for a way to avoid the big monetary inflation. “
Despite owning more than 90,000 BTC, MicroStrategy continues to buy clips from $ 10 million to $ 15 million dollars. Since the beginning of this month alone, the company announced purchases of 328 BTC for $ 15 million on March 1, 205 BTC for $ 10 million on March 5 and, most recently, 362 BTC for $ 15 million on March 12.
When one of the world’s largest publicly known bitcoin holders continues to accumulate as much of the world’s only absolutely scarce monetary assets as possible, it begs the question: