MicroStrategy, the company with the largest holdings of Bitcoin among public companies, announced in an interview with CNBC that it will transform into a Bitcoin-focused company. The company’s co-founder, Michael Saylor, emphasized the positive impact of Bitcoin ETFs on the market and revealed the company’s plan for rebranding. This plan will redefine MicroStrategy’s business focus, making it a company dedicated to Bitcoin development. Saylor stated:
This move aligns with the company’s development direction and highlights the success brought by the Bitcoin-centric strategy, as well as MicroStrategy’s position as the largest publicly traded Bitcoin investor in the world. He pointed out that MicroStrategy’s operating model is more diversified than traditional investment trusts, allowing the company to engage in software development, generate cash flow, utilize capital markets, accumulate Bitcoin for shareholders, and contribute to the development of the Bitcoin network.
Saylor also highlighted the demand for Bitcoin ETFs, stating that the demand for these ETFs has been suppressed for a decade until the recent launch of Bitcoin spot ETFs, which allowed mainstream investors to access BTC. He believes that it is this accessibility that has led to a significant influx of funds into ETFs. He stated:
According to statistics from Lookonchain, US Bitcoin ETFs added 10,926 BTC on the 13th, marking the fifth consecutive day of inflows. Apart from GBTC, the other eight ETFs added 12,073 BTC ($590 million), while GBTC only decreased by 1,147 BTC ($56 million), showing a slowdown in outflows since January 22nd.
Furthermore, Saylor emphasized the attractiveness of Bitcoin, pointing out its lack of correlation with traditional risk assets and its immunity to external factors such as specific countries, companies, economic cycles, weather, and geopolitical events.
MicroStrategy has increased its cryptocurrency holdings this year, reaching 190,000 BTC. Since the fourth quarter of last year, the company has purchased a total of 31,755 BTC, marking its largest quarterly increase in three years and the 13th consecutive quarter of accumulation.
With Bitcoin surpassing $49,000, the company’s Bitcoin investment currently has an unrealized profit of $3.493 billion. The total cost of the Bitcoin holdings is $5.93 billion, with an average price per BTC of $31,224.
Source:
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