On March 12, MicroStrategy CEO Michael Saylor announced that the company had amassed an additional 362 bitcoins valued at $ 15 million, adding to its huge BTC treasury. At this point, Saylor and MicroStrategy have shown the market that they believe the dollar price is irrelevant relative to Bitcoin – they will accumulate Bitcoin at all costs.
The strategy behind this feverish accumulation is really quite simple. Saylor has articulated that he believes the best path for the company to do nothing but focus on its strengths: sell business intelligence software, take profits, and store value … just not in dollars.
In an interview late last year, CNBC presenter Melissa Lee Saylor asked, “Are you a software company or a Bitcoin hedge fund?” Saylor reacted decisively.
“We have a software company that generates cash, but if we just converted the cash to fiat currency and devalued it at 15 percent a year, we’d lose as much on the balance sheet as we generate on the income statement didn’t make sense, ”he replied. “[Bitcoin] It looks like it will turn out to be the primary reserve asset for people looking for a way to avoid big money inflation. “
Despite owning over 90,000 BTC, MicroStrategy continues to purchase clips valued at $ 10 million to $ 15 million. Since the beginning of this month alone, the company announced the purchase of 328 BTC for $ 15 million on March 1st, 205 BTC for $ 10 million on March 5th, and most recently 362 BTC for $ 15 million on March 12th.
If one of the world’s largest publicly known Bitcoin holders continues to accumulate as much as possible of the world’s only absolutely scarce monetary value, the question arises:
What are you doing to stack more sats?