Michael Saylor has an ambition plan to turn MicroStrategy (NASDAQ:MSTR) into the top Bitcoin (CRYPTO: BTC) bank.
What Happened: Saylor recently called MicroStrategy a “merchant bank.”
Or, “you could call it a Bitcoin finance company,” he told Bernstein analysts, according to The Block.
MicroStrategy recently acquired 7,420 BTC, increasing its holdings to 252,220 BTC (worth $15 billion). This makes the company the largest corporate Bitcoin holder globally.
Saylor, who started MicroStrategy in 1989, sees Bitcoin as a potent hedge against inflation and an exceptional tool for long-term value preservation. He anticipates that Bitcoin’s volatility will draw investors seeking high returns and will become indispensable for institutional and retail portfolios over time.
“If we end up with $20 billion of converts, …
Full story available on Benzinga.com