MicroStrategy CEO Michael Saylor says he'll consider stock or debt financing in order to buy more bitcoin
MicroStrategyCEO said the company is considering issuing more debt to buy bitcoin.
- "It makes sense to buy as much of that asset class as we can," the CEO said.
- In total, MicroStrategy has amassed 90,531 bitcoins as of February 24 since it began purchases of the digital asset in August.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell
"We've been pretty clear that we'll consider equity and debt financings," Saylor said, speaking as part of a panel for the Bloomberg Crypto Summit Thursday. "It makes sense to buy as much of that asset class as we can," he said.
The software technology company was the first corporation to directly purchase bitcoin, driven by Saylor's view of the digital asset as a hedge against a potential devaluation of the US dollar.
Saylor on February 24 announced on Twitter that his company purchased an additional 19,452 bitcoins for an estimated $1.026 billion in cash at an average price of $52,765 per bitcoin.
MicroStrategy owns 90,531 bitcoins as of February 24, investing at roughly $2.2 billion in total since it started purchasing the digital asset in August. Thus far, the company has issued two rounds of convertible bonds to purchase more of the coins.
Saylor also pointed to the
"If you want to preserve shareholder value, you have to hold scarce assets," he said. "Bitcoin is the most liquid, scarce, uncorrelated asset you can buy."
- An American tourist in Seoul said he sprayed graffiti in 155 places to raise awareness about teeth grinding
- X could lose $75 million in ad revenue after a litany of controversies from Elon Musk, including his endorsement of antisemitic comments, report says
- The S&P 500 will trade near its all-time high before a recession drags it down again in a topsy-turvy 2024, Société Générale says
- 10 Best honeymoon places near Delhi
- Samsung launches new smartphone with 50 MP camera in India
- Unveiling the sweet side of corn: 7 mouthwatering recipes
- Delhi's top must-do winter activities this season
- Tata Technologies IPO allotment – How to check allotment, GMP, listing date and more