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MicroStrategy’s Chief Financial Officer (CFO) Phong Le said the business analytics software company, which currently holds more than 100,000 Bitcoin, is ready to buy more of the flagship crypto asset.
During a second quarter earnings call, Le said MicroStrategy may buy more Bitcoin when financial conditions allow.
“Going forward, you should expect us to buy additional Bitcoin when our cash, cash equivalents, and short-term investments exceed current working capital requirements.”
MicroStrategy’s CFO also said that when market conditions allow, the tech company may also raise funds to buy more Bitcoin.
“And we may from time to time, subject to market conditions, issue debt or equity securities and capital raising transactions for the purpose of using the proceeds to purchase Bitcoin.”
Michael Saylor, CEO of the company, adds that MicroStrategy is currently following two business approaches.
“With the exception of a few people in the legal and financial fields, the entire company is focused on enterprise business intelligence. This is our micro-strategy …
And our macro strategy is to acquire and hold Bitcoin.
Our plan in this regard, of course, is to continue to acquire Bitcoin, to continue to hold Bitcoin. It’s a very simple strategy.
MicroStrategy currently owns 105,085 Bitcoin, 10% of which was purchased by the software company in the second quarter, according to Saylor.
“Throughout the neighborhood [Q2 of 2021], we were able to acquire more than 13,005 Bitcoin. We acquired 13,759 Bitcoin at [a] slightly higher average price: $ 38,467. We are very comfortable with this acquisition. I was very happy to see us making such good progress and ending the quarter with 105,085 Bitcoin. At this point, we have now invested $ 2.74 trillion in Bitcoin. “
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
Featured Image: Shutterstock / Tithi Luadthong
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