Bitcoin

ORDI

Spot

The co-founder of MicroStrategy, <a href="https://twitter.com/saylor/status/1686838228349829121?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1686838228349829121%7Ctwgr%5E345bdff996b4e7ebfc83c15bd18a20e61d032733%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fmicrostrategy-bitcoin-strategy-remain-despite-etf-approval" rel="noopener noreferrer nofollow">Michael Saylor</a>, highlights the firm’s commitment to Bitcoin, comparing it to a “sportscar” in the heat of discussion about spot ETFs. Also, he compared the spot exchange-traded funds (ETFs) with “supertankers.” 
<h2 id="span-style-font-weight-400-microstrategy-s-commitment-to-bitcoin-is-unshaken-span">MicroStrategy’s Commitment to Bitcoin is Unshaken</h2> 
In an interview with Bloomberg on August 2, the co-founder emphasizes MicroStrategy’s unshakable commitment to Bitcoin, despite the likelihood of future regulatory clearance for spot Bitcoin ETFs, providing investors an inviting way to obtain access to the developing cryptocurrency ecosystem. He stated that his company intends to continue adding Bitcoin to its balance sheet, including the possible proceeds of a $750 million share sale. 
<h3 id="span-style-font-weight-400-bitcoin-surged-145-since-first-btc-purchase-span">Bitcoin Surged 145% Since First BTC Purchase</h3> 
He claims that Bitcoin has increased 145% since the company began its purchase plan in August 2020, and that his company uses leveraged investments to create profits that are handed on to shareholders. 
Saylor’s strong statements follow MicroStrategy’s latest declaration that it firmly intends to continue integrating Bitcoin to its balance sheet.&nbsp; 
<h2 id="span-style-font-weight-400-microstrategy-to-sell-stocks-worth-750m-span">MicroStrategy to Sell Stocks Worth $750M&nbsp;</h2> 
During an earnings call on August 1, Saylor emphasized that when spot ETFs become available, MicroStrategy will continue to be “differentiated as a particular Bitcoin operating strategy”&nbsp; 
He states: “We can tap into leverage because we’re an operating company, which an ETF couldn’t do so we view it as being beneficial to the entire ecosystem.” 
He additionally reiterated that the business is interested in selling up to $750 million in class A common stock, as stated in a recent SEC filing, noting that the profits will be used “generally just to acquire Bitcoin.” 
<h3 id="span-style-font-weight-400-owning-152k-btc-span">Owning 152K BTC</h3> 
<a href="https://thecoinrise.com/microstrategy-increase-btc-holding-to-140k-after-q1-purchase/" rel="noopener noreferrer nofollow">MicroStrategy dominates the world of finance</a> with over 470 institutional shareholders and an overall valuation of $5.3 billion, according to <a href="https://fintel.io/so/us/mstr#:~:text=Institutional%20Ownership%20and%20Shareholders,a%20total%20of%207%2C853%2C159%20shares." rel="noopener noreferrer nofollow">Fintel</a>. 
Likewise, Saylor, the executive chairman of MicroStrategy, confirmed that his company owns close to 152,800 BTC, which is worth almost $4 billion. 
Back in May, the billionaire also disclosed that his organization is not only <a href="https://thecoinrise.com/microstrategy-is-looking-into-bitcoin-ordinals-michael-saylor/" rel="noopener noreferrer nofollow">intrigued by Ordinals</a>, as well as by the possibility that the technology that has outraged the Bitcoin community may drive software innovation. Furthermore, on the PBD Podcast, he referred to Ordinals as a “catalyst” for Bitcoin acceptance. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/microstrategy-to-continue-supporting-btc-after-spot-etf-approval/">MicroStrategy to Continue Supporting BTC After Spot ETF Approval</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

MicroStrategy to Continue Supporting BTC After Spot ETF Approval

Table of Contents

TheCoinrise Media

Other articles published on Aug 10, 2023

What is Worldcoin (WLD)? A Beginner’s Guide

NIO Stock Slipped Over 4% Intraday; Might Surge Post Q2 Earnings

Memanfaatkan Utang untuk Kaya Raya Ala Robert Kiyosaki

Binance to List SEI network’s native token

Tether Doing Shady Stuff Again: Bitcoin Holdings Don’t Add up When Analyzing On-Chain Data

Pfizer Stock Price Prediction: Will PFE Change the Game In 2023?

Join our free newsletter for daily crypto updates!