Michael Saylor Knew MicroStrategy Couldn't Outgrow Likes Of Apple, Microsoft, Google — So He Invested In Bitcoin: 'We Started...Digital Monopoly Of Our Own'
Portfolio Pulse from Mehab Qureshi
MicroStrategy Inc's CEO, Michael Saylor, has shared insights into the company's decision to invest in Bitcoin as a means to drive growth and protect capital. Saylor acknowledged that competing with tech giants like Google, Microsoft, and Apple was not viable for MicroStrategy. The company has acquired 6,067 Bitcoins during the third quarter for an average price of $27,531, bringing its total holdings to 158,400 Bitcoins at an average cost of $29,586 per coin. Saylor also expressed optimism about the future of Bitcoin, mentioning the upcoming halving in 2024 and the potential impact of spot ETFs.
November 07, 2023 | 11:04 am
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POSITIVE IMPACT
Bitcoin's price could be impacted by the upcoming halving in 2024 and the potential impact of spot ETFs. MicroStrategy's significant investment in Bitcoin could also influence the cryptocurrency's price.
Bitcoin's price could be significantly impacted by the upcoming halving in 2024, which will reduce the supply of Bitcoin, and the potential impact of spot ETFs, which could double the demand for Bitcoin. Additionally, MicroStrategy's significant investment in Bitcoin could also influence the cryptocurrency's price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy's decision to invest in Bitcoin as a growth strategy and capital protection measure could potentially impact its stock price. The company's significant Bitcoin holdings could also be affected by the upcoming Bitcoin halving and the potential impact of spot ETFs.
MicroStrategy's decision to invest in Bitcoin as a growth strategy and capital protection measure is a significant move that could potentially impact its stock price. The company's significant Bitcoin holdings mean that any changes in the Bitcoin market, such as the upcoming halving or the potential impact of spot ETFs, could also have a significant impact on the company's assets and, by extension, its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100