Logll Tech News โ MicroStrategy, a pioneering company in the realm of Bitcoin investments, is leaving no stone unturned in its pursuit of accumulating the flagship cryptocurrency.
- The co-founder, Michael Saylor, remains optimistic about their approach, even in the face of potential exchange-traded fund (ETF) approvals. In this article, we delve into Saylor’s views on MicroStrategy’s unique operating strategy and its impact on the broader crypto landscape. ๐
Consider a #Bitcoin Strategy. pic.twitter.com/MJcGxiVHop
— Michael Saylorโก๏ธ (@saylor) August 2, 2023
MicroStrategy’s Bitcoin Journey and Ambitions ๐
Since August 2020, MicroStrategy has been steadily purchasing Bitcoin, and the results have been astonishing. Bitcoin’s value has surged by an impressive 145%, validating the company’s approach to leverage investments to generate attractive yields for its shareholders. Saylor emphasized that their position as an operating company allowed them to tap into leverage, a privilege an ETF would not enjoy. He further stated, “We view it as being beneficial to the entire ecosystem.” ๐
ETF Approval: No Threat to MicroStrategy โ
While there is speculation about the possible approval of spot Bitcoin ETFs, Michael Saylor exudes confidence in MicroStrategy’s value proposition. In a recent interview with Bloomberg, Saylor highlighted that even if spot Bitcoin ETFs gain regulatory approval, MicroStrategy will continue to offer something distinct and valuable to investors. He reiterated his stance during the Aug. 1 earnings call, where he expressed the company’s uniqueness as a “particular Bitcoin operating strategy.” ๐ช
๐ฅ Join the Biggest Cryptocurrency Exchange Tournament for Your Shot at 8,000,000 USDT in Prizes!
MicroStrategy vs. Spot ETFs ๐๐ข
Saylor drew an interesting analogy, comparing MicroStrategy to a nimble sports car, while the spot Bitcoin ETF would be akin to a massive supertanker. While the latter may attract large hedge funds and sovereign wealth funds with significant capital, MicroStrategy’s approach caters to a different set of investors.
๐ You might also like: Coinbase Announces Plans to Integrate Bitcoin Lightning Network for Global Crypto Payments
He stated, “Spot ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class,” underscoring the importance of diversity in investment options in the crypto market. ๐
Ambitious Plans and Market Confidence ๐๐ผ
MicroStrategy boasts more than 471 institutional shareholders, as reported by Fintel, and enjoys a substantial market capitalization of $5.3 billion. As the company aims to accumulate as much Bitcoin as possible, analysts have raised the probability of spot Bitcoin ETF approval in the United States to 65%, a testament to the growing confidence in the cryptocurrency market. ๐
The top 11 shareholders of MicroStrategy are:
- Michael Saylor (14.0%)
- Capital Research and Management Company (12.0%)
- The Vanguard Group, Inc. (6.8%)
- Susquehanna International Group, Llp (5.3%)
- Citadel Advisors Llc (4.9%)
- AGTHX – GROWTH FUND OF AMERICA Class A (4.8%)
- Fmr Llc (4.7%)
- BlackRock Inc. (4.6%)
- IMC-Chicago, LLC (4.4%)
- ANCFX – AMERICAN FUNDS FUNDAMENTAL INVESTORS Class A (4.3%)
- IMC-Chicago, LLC (4.2%)
Source: htts://fintel.io/so/us/mstrp
$750 Million Share Sale for Bitcoin Accumulation ๐ฐ๐
To fuel its Bitcoin accumulation, MicroStrategy has announced a planned $750 million share sale. This move aligns with the company’s mission to bolster its existing holdings of 152,800 BTC, further solidifying its position as a leading player in the Bitcoin space.
Saylor confirmed, “The primary use of proceeds generally is just to acquire Bitcoin,” reaffirming the company’s unwavering commitment to expanding its Bitcoin balance sheet. ๐๐ฐ
๐ You might also like: Mina Protocol Review
If you are able, we kindly ask for your support of Logll Tech News today. We appreciate it.
Sergio Richi
Editor, Logll Tech News
Join Our Newsletter
FAQs: Addressing the Key Questions ๐โโ๏ธ๐โโ๏ธ
MicroStrategy’s Bitcoin strategy sets it apart from traditional ETFs. The company’s operating status enables it to leverage investments, generating superior yields for its shareholders, a privilege that ETFs cannot enjoy.
Since embarking on its Bitcoin journey in August 2020, MicroStrategy has witnessed an impressive 145% surge in the value of its Bitcoin holdings, validating its investment approach.
Despite potential ETF approvals, MicroStrategy remains confident in its value proposition, emphasizing that the company will continue offering something distinct as a “particular Bitcoin operating strategy.”
As reported by Fintel, MicroStrategy boasts more than 470 institutional shareholders, solidifying its position as a trusted choice for institutional investors.
The $750 million share sale reflects MicroStrategy’s commitment to accumulating more Bitcoin, strengthening its foothold in the cryptocurrency market.
Saylor aptly compared MicroStrategy to a sports car, highlighting its agility and uniqueness in contrast to the spot Bitcoin ETF, symbolizing a massive supertanker.
Analysts have raised the probability of spot Bitcoin ETF approval to 65%, indicating growing confidence in the cryptocurrency market.