MicroStrategy CEO Michael Saylor described the role of cryptocurrencies in the digital future world and explained the company's business strategy.
Answering the question of why the developer of analytical software for business continues to buy bitcoin, he noted that this has become one of the company's strategies. He called the leading cryptocurrency "digital gold in a large technological network."
“MicroStrategy is the first company to conduct a Dutch auction or buy back shares to buy bitcoin. We were the first to offer convertible debt for the purchase of cryptocurrency. Last week we became the first firm to offer senior secured debt for this purpose,” Saylor said.
According to him, the purchase of bitcoin increased the strength of the MicroStrategy brand "100 times", the previous quarter was the best for the main business over the past decade - software sales grew by 10%.
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Even if the stock of the company came to be perceived as analogous to ETF based on digital gold, Sailor believes that the stock of the company has undeniable advantages. First, Microstrategy can convert cash flow from software sales into cryptocurrency. Secondly, it can attract debt financing.
Regarding Bitcoin maximalism and possible diversification of investments in virtual currencies, Sailor stated: “Bitcoin is the largest and most dominant digital property network. Think of it like giant neighborhoods in cyberspace Manhattan. Then you have digital currency like Tether and stablecoins. They will be like CBDC dollars. You also have digital applications like Ethereum."
He added that "Ethereum wants to dematerialize JP Morgan buildings, banking institutions, and all exchanges."
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"All these things have a place if they are correctly understood," Saylor summed up.