MicroStrategy chief says Bitcoin purchase policy has been highly successful

An innovative strategy for buying and holding Bitcoin will provide MicroStrategy, a software provider, with a “bright future” for the coming years. This was stated by CEO Michael Saylor in a letter to shareholders accompanying the annual report.

“In 2020 we took bold steps to protect the company, our people and preserve shareholder value in the face of the COVID-19 pandemic. […] We adopted Bitcoin as the primary treasury reserve asset,” he recalled.

In 2021 MicroStrategy expanded its bitcoin purchase program. The company began acquiring the asset using equity, debt financing and a portion of profits, said Saylor.

“As of April 14, 2022, MicroStrategy remains the largest holder of Bitcoin among public companies. MicroStrategy, together with its subsidiaries, owns 129,218 BTC, acquired for $3.97 billion at an average price of about $30,700,” the head of the firm said.

According to him, the cryptocurrency strategy has not only increased its value but also raised its profile, helping to attract customers.

“We continue to innovate and deliver superior technologies. We intend to capitalise on several market trends in the analytics industry that we believe will deliver exceptional value for our customers. The Bitcoin-buying-and-holding strategy continues to lift our brand and accelerate our mission,” emphasised Saylor.

Earlier in 2022, the head of the company affirmed commitment to the cryptocurrency purchasing strategy, despite a market correction. Later this stance was supported by the company’s CFO, Fong Le.

In April, Saylor, in a letter to the U.S. Securities and Exchange Commission, described this policy as ‘extremely successful’.