Michael Saylor claims that MicroStartegy is the sportscar in the industry, while spot ETF will "be the supertanker."
MicroStrategy, under the guidance of its co-founder Michael Saylor, has reiterated its commitment to Bitcoin (BTC), asserting that the firm's Bitcoin-related investment strategy will remain appealing to investors.
The assurance comes amid discussions regarding the potential approval of spot Bitcoin exchange-traded funds (ETFs).
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MicroStrategy has been a trailblazer in corporate Bitcoin investment, with a growth of 145% since initiating its Bitcoin purchasing strategy in August 2020.
Michael Saylor has confirmed the company's intention to continue investing in Bitcoin. According to Saylor, the firm will use the proceeds from a potential $750 million share sale to buy more Bitcoin. The company’s unique approach to leveraging investments to generate yields for shareholders has distinguished it from other investment avenues.
Saylor's confidence in his firm's appeal extends to a future where spot Bitcoin ETFs might be approved. During the company's earnings call, Saylor stated:
We are a unique instrument, we are the sportscar whereas the spot ETF is going to be the supertanker. Spot ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.
The metaphor of a sportscar versus a supertanker illustrates MicroStrategy's view of itself as a graceful and targeted investment vehicle compared to the broader appeal of an ETF. Saylor acknowledges that spot Bitcoin ETFs could bring large hedge funds and sovereign entities into the Bitcoin space, injecting billions of dollars. Yet, he believes that MicroStrategy offers something that ETFs cannot.
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.
MicroStrategy's status in the market is also significant, boasting over 470 institutional shareholders and a market capitalization of $5.3 billion. During the earnings call, MicroStrategy revealed that it now has around $4.4 billion worth of Bitcoin.
Michael Saylor's remarks articulate MicroStrategy's continued dedication to Bitcoin, painting a picture of a firm that is unbothered by potential shifts in the market landscape. With clear intentions to continue adding to its Bitcoin holdings, which currently stand at 152,800 BTC, MicroStrategy remains steadfast in its strategic course.
Saylor's confidence that MicroStrategy's approach will continue to entice investors even with the launch of spot Bitcoin ETFs underscores the company's confidence in its unique position within the evolving cryptocurrency space.
