MicroStrategy Will Not Dump Any Of Its Bitcoin, CFO Reveals

MicroStrategy has become a major player in the crypto world since it started buying Bitcoin. Its holdings have seen it solidify its position as a public company with the largest bitcoin holdings in the world. A notable fact is that the company bought a significant portion of its BTC during the 2021 bull run. So when the price of the digital asset started to fall, there was speculation as to whether MicroStrategy was planning to start dumping BTC.

MicroStrategy will not sell Bitcoin

MicroStrategy recently appointed a new chief financial officer, Andrew Kang, who is so far looking to stick with the company’s strategy. The company has revealed in the past that it will hold its bitcoin for the long term and has no plans to sell. Kang repeated this strategy in a recent interview amid much speculation.

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Kang spoke with The Wall Street Journal He revealed that MicroStrategy remains committed to keeping its Bitcoin. More importantly, the CFO made it clear that the company did not face any kind of pressure from its shareholders to sell any of its bitcoins.

Bitcoin price chart from TradingView.com

BTC starts another recovery trend | Source: BTCUSD on TradingView.com

Even with her BTC investment currently at a loss, she remains steadfast in her determination to hold her bitcoin. This was also echoed by CEO Michael Saylor, who took to Twitter to assure investors that MicroStrategy would not get rid of any of their BTC even through a bear market. Adding that the company continues to stand with Bitcoin.

BTC will be worth millions

CEO Michael Strategy is a Bitcoin fanatic and his personal investment was one of the foundations for persuading the board of directors to invest in BTC. Saylor has always been vocal about the fact that he believes the digital asset will be very valuable in the future, making it more than $1 million.

Saylor revealed in an interview With Yahoo Finance it sees leading digital assets reach $1 million in the future. It has also been dubbed the “currency of the future” with an emphasis on its superiority over other cryptocurrencies in the space.

Related reading | Exchange inflows: Bitcoin and Ethereum rock as the market struggles to recover

As for MicroStrategy, the CEO explained that when it comes to buying BTC, there is no “pricing target.” He believes the company will continue to buy the currency at its local peaks. Interestingly, the CEO also said that he sees Bitcoin’s market cap at $100 trillion one day.

MicroStrategy currently holds 129,218 BTC on its balance sheet. The total entry value of all of its bitcoins is $3.97 billion. While the current value of its holdings is $3.924 billion, which puts the company at a loss of about $46 million.

Featured image from Onewsonline, chart from TradingView.com

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