MicroStrategy aims to become the first “Bitcoin Bank” in the world.
The post MicroStrategy aims to become the first “Bitcoin Bank” in the world. appeared on BitcoinEthereumNews.com.
MicroStrategy, one of the most innovative technology companies in the world, has recently announced its ambition to become a “Bitcoin Bank“. This ambitious plan was revealed after the company purchased the cryptocurrency at a price above 100,000 dollars for the first time in its history. In the meantime, BTC reaches a new all-time high overnight above 106,500 dollars. Let’s see all the details below. MicroStrategy revolutionizes the crypto world: it wants to become the first “Bitcoin Bank” in the world MicroStrategy began purchasing Bitcoin in September 2020, when the price of the cryptocurrency was still relatively low. Since then, the company has continued to increase its reserves of Bitcoin, using both debt and equity to maximize its returns. Now MicroStrategy raises the bar and aims to create a solid financial institution for the crypto market. In a recent interview, the CEO of the business intelligence company revealed his plan, which is to become the first “Bitcoin Bank” in the world. This means that the company intends to create financial instruments based on Bitcoin, such as convertible bonds, common shares, and debt instruments. Saylor explained that MicroStrategy plans to invest the funds raised at interest rates higher than traditional ones, with an estimated average annual return of 29%. With its Bitcoin reserves and its aggressive purchasing strategy, the company is well positioned to achieve the set goal. Currently, MicroStrategy boasts a stash of 423,650 BTC, purchased at an average cost price of 60,389 dollars, making it the largest holder of Bitcoin among publicly traded companies in the world. Given the price action of the cryptocurrency, the investment is now in profit by 73.75% for a PNL of 18.86 billion dollars. The news of MicroStrategy’s plan to become a Bitcoin Bank comes after Saylor suggested a new purchase of the crypto above…
Filed under: News - @ December 16, 2024 1:24 pm