MicroStrategy Will Not Dump Any Of Its Bitcoin, CFO Reveals

May 21, 2022

MicroStrategy's CFO confirms that the company will not sell any of its Bitcoin.

MicroStrategy Will Not Dump Any Of Its Bitcoin

Since it started obtaining Bitcoin, MicroStrategy has emerged as an outstanding participant withinside the cryptocurrency market. Its property has solidified its role as a public organization with the world’s biggest bitcoin holdings. A noteworthy issue is that the organization bought a considerable part of its BTC for the duration of the 2021 bull run.

The question of whether MicroStrategy wants to start dumping its BTC has arisen as the rate of virtual foreign money has begun to plummet. MicroStrategy’s new Chief Financial Officer, Andrew Kang, appears to be devoted to the company’s goals thus far. The company has already declared that it expects to keep its BTC for a long time and has no plans to promote it.

Kang reaffirmed this plan in a recent interview amid widespread speculation. Kang indicated to The Wall Street Journal that MicroStrategy was still committed to keeping its bitcoin. More crucially, the CFO stated that the business has not been under any pressure from its shareholders to sell any of its BTC. Even though its BTC investment is presently in the red, it remains strong in its determination to keep its Bitcoin. This was repeated by CEO Michael Saylor, who turned to Twitter to reassure investors that MicroStrategy will not sell any of its BTC even if the market falls. Furthermore, the company remains committed to bitcoin. CEO Michael Strategy is a bitcoin maximalist, and his personal investment was one of the factors that persuaded the board to invest in BTC. Saylor has long been public about his belief that the digital asset would be worth a lot of money in the future, estimating it to be worth more than a million dollars. MicroStrategy’s balance sheet now shows 129,218 BTC. The entry price for all of its bitcoin is $3.97 billion. While the current value of its holdings is $3.924 billion, the corporation is losing around $46 million.

Read more: MicroStrategy may examine prospective yield generation opportunities on 95,643 BTC holdings

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