MicroStrategy CEO and Bitcoin Bull Michael Saylor Says Company Could Generate Huge Income From Its Bitcoin Holdings

MicroStrategy CEO Michael Saylor says that the company could produce revenue from its huge Bitcoin holdings.

What Happened: Saylor said the company has close to 122,478 Bitcoins, and it could lend some of it to a counterparty to generate income.

He also said that MicroStrategy could 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 said.

The CEO went a step further, indicating that MicroStrategy could develop “some kind of interesting application” for its bitcoin.

He mentioned that the company may explore options including putting a mortgage against its bitcoin, generating long-term debt under “favorable circumstances.”

Largest Corporate Holder: Last week MicroStrategy declared that it purchased about 1,434 bitcoins between Nov. 29 and Dec. 8 for about $82.4 million in cash at an average price of about $57,477 per Bitcoin, the company said in a regulatory filing.

In September, Microstrategy emerged as the largest corporate holder of Bitcoin and during that time Saylor said, “Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

By Bibhu Pattnaik

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga

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