MicroStrategy CEO Michael Saylor Bullish on Bitcoin Despite Paper Loss

Bitcoin’s largest business investor MicroStrategy has decided to continue investing in “digital asset strategies” despite its losses.

The software developer of the US intelligence business said the current value of its Bitcoin assets was $ 2.051 billion (about Rs. 15,255 crores), which was an increase in the loss of $ 689.60 million (about $ 5,130 million).

However, this is considered to be a paper (only unfinished) loss, which is based entirely on the cryptocurrency price at the end of the second quarter.

Chief executive Michael Saylor, who has often stressed the future of the world’s oldest currency, said he was “pleased with the results” of the digital asset plan.

Saylor said in a statement that the company’s recent funding has allowed it to increase its digital holdings to more than 1.05 lakh Bitcoins.

“Going forward, we aim to continue to invest more in our digital asset plan,” he added.

The company said its subsidiary MacroStr Strategy owns approximately 92,079 Bitcoins.

Emphasizing his position on the future of Bitcoin on Friday, Saylor said his company’s strategy to invest in Bitcoin as long as the future of Big Tech is “digital asset.”

Our long-running #bitcoin strategy, for a long time, was cleverly released. It is just a matter of time before billions of people put their phones into bitcoin and we want to be there first.

The future of high technology digital assets. $ MSTR @MicroStr Strategy https://t.co/THmVLfxNfC

In a previous tweet, he said Bitcoin is the fastest growing and most held financial asset in world history as it is now owned by more than 114 million people.

Bitcoin is now hosted by more than 114 million people, making it the fastest growing financial asset in the world.

Last month, when another billionaire businessman, Elon Musk, mocked Bitcoin maximalists with a lightbulb joke, Saylor responded.

Saylor made the first investment in Bitcoin in August last year by purchasing 21,454 Bitcoins for $ 250 million (approximately 1,860 crores).

In February this year, his company added another $ 19,452 Bitcoins for about $ 1 billion (approximately Rs. 7,440 crores).

As of March 1, MicroStr Strategy’s Bitcoin seizures had reached 90,859 BTC with $ 2.19 billion (approximately Rs. 16,290 crores).

In less than a year, Saylor has turned an obscure intelligence company into a de facto Bitcoin ETF.

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