MicroStrategy aims to become Bitcoin bank, says Saylor
The company holds 252,200 Bitcoin, valued at $15.8 billion, and plans to create capital market instruments centred on Bitcoin.
MicroStrategy is set on transforming itself into a ‘Bitcoin bank,’ with co-founder Michael Saylor projecting a potential trillion-dollar valuation for the company. With a massive Bitcoin holding of 252,200 coins, valued at $15.8 billion, MicroStrategy’s strategy centres around using Bitcoin to create capital market instruments for investors.
Bernstein Research has rated the firm as ‘Outperform’ with a target price of $290, crediting its Bitcoin-focused approach for this optimistic outlook. Saylor likens Bitcoin to a ‘tech monetary network’ and envisions creating various financial products tied to the cryptocurrency, allowing investors to benefit from Bitcoin’s performance.
MicroStrategy’s innovative use of convertible bonds and equity to raise capital at low interest rates has given it a competitive edge in the digital asset space. Saylor remains bullish, predicting that Bitcoin’s price will soar in the future, potentially turning MicroStrategy into a trillion-dollar company.
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