MicroStrategy weighs entry into the crypto-lending market

MicroStrategy chief Michael Saylor, in a discussion with investors, said the company would consider further earning opportunities from Bitcoin assets. This is reported by Bloomberg.

“Either take out a long-term loan on favourable terms secured by Bitcoin, or extend a Bitcoin loan to a trusted counterparty. That could be a sound source of income,” he said.

According to Saylor, MicroStrategy has not yet made a final decision on the matter. He named banks and large technology companies as potential borrowers.

Saylor also questioned the market’s readiness to issue Bitcoin-backed bonds, but allowed for such a possibility in the future. He said the firm would continue to issue equity and debt securities.

On December 9, MicroStrategy additionally acquired 1,434 BTC for about $82.4 million.

As of writing, the company owns 122,477 BTC, having spent about $3.66 billion. The value of MicroStrategy’s reserves in digital currency is about $5.75 billion.

Earlier, Saylor described Bitcoin as a “global reserve asset” and allowed that the firm will store the cryptocurrency “forever”.

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