MicroStrategy and Michael Saylor are all in

Tech company MicroStrategy and CEO Michael Saylor are all in . Last year, MicroStrategy started the trend among companies to put bitcoin on their balance sheets and Michael Saylor has since emerged as a bitcoin evangelist who may have won over Elon Musk. MicroStrategy recently organized a conference for corporate investors and in the meantime bought more and more bitcoin. MicroStrategy now owns more than 90,000 BTC, worth approximately $4.5 billion.

MicroStrategy was the first major company to put bitcoin on its balance sheet last year. The software company then invested $250 million in 21,454 BTC. The move was remarkable at the time, because MicroStrategy is not a bitcoin company, but a publicly traded company that offers enterprise analytics software.

MicroStrategy made the news with it and turned out to be the first sheep over the dam. After MicroStrategy set the tone, payment provider Square also invested $50 million in bitcoin and life insurer MassMutual $100 million.

Michael Saylor, the CEO of MicroStrategy, also likely played a role in carmaker Tesla’s recent decision to invest in bitcoin. Saylor had contact with Elon Musk via Twitter in December, after which they presumably continued to speak in less public circumstances. About a month later, it turned out that Tesla had since purchased $1.5 billion worth of bitcoin.

90,859 BTC

MicroStrategy, meanwhile, was buying more and more bitcoin. The first investment of $250 million in August was followed by a second investment of $175 million in September. In his personal capacity, Saylor also bought some $175 million worth of bitcoin.

However, that turned out to be just the beginning. MicroStrategy announced in December that it would issue low-interest convertible bonds worth $400 million to buy even more bitcoin with the money raised. It eventually proved so popular that it made $650 million. A second round recently followed, once again surpassing the target of raising $600 million. MicroStrategy eventually raised $1 billion at 0% interest and bought Bitcoin again.

MicroStrategy now owns 90,859 BTC, for which it invested a total of $2.2 billion. The market value is currently worth about $4.5 billion. MicroStrategy speaks of adoption and says it has no plans to sell.

?«£The company remains focused on our two business strategies of both continuing to grow our business analytics software business and acquiring and holding bitcoin. The company now owns more than 90,000 bitcoins, highlighting our belief that bitcoin, as the cryptocurrency that sees the most adoption globally can serve as a reliable store of value. We will continue our strategy of buying bitcoins with excess cash and from time to time, depending on market conditions, we may issue debt securities or raise funds with the aim of use the proceeds to buy more bitcoins.” – Michael Saylor, CEO of MicroStrategy, press release

MicroStrategy pretty much went all in with it ; it invested almost everything in bitcoin and then borrowed heavily to buy even more. That is very risky, because if the price falls instead of rising, MicroStrategy can get into a serious squeeze. It seems that MicroStrategy’s fate is completely tied to that of Bitcoin.

Bitcoin for Business

Michael Saylor is doing everything he can to make it a success. He regularly talks about Bitcoin and MicroStrategy’s investments in the media, where he stands out for his persuasiveness and determination. He knows how to put it into words very strongly and that, in combination with his considerable investments, makes an impression.

Above: Michael Saylor explained his motivation at the conference

At a recent conference for businesses, MicroStrategy explained how and why businesses can invest in bitcoin. In doing so, Saylor explained MicroStrategy’s motivation and provided information on how companies can follow suit. Bitcoin is Saylor’s best anti-inflation tool, which he says is on the way and could reach 15% to 20%.

The conference turned out to be a great success. It was expected that 1400 companies would participate, but in the end more than 8000 participants from almost 7000 companies turned up. The entire conference can be viewed on the MicroStrategy website. In addition, the Saylor Academy website offers a comprehensive and free course on Bitcoin.

It remains to be seen how big the impact will be, but one thing is certain: Michael Saylor knows how to stoke the fire. If only because he gives the impression that if others don’t get along, he will buy all the bitcoins himself. Many a company and CEO will probably be scratching their heads by now and wondering: should we also have some bitcoin?

Read the press release about MicroStrategy’s latest $1 billion purchase of bitcoin here. The complete ‘Bitcoin for Corporations’ conference can be viewed on the MicroStrategy website and you will find an extensive free course on the Saylor Academy website.

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