MicroStrategy is looking to continue buying and holding bitcoin, as executives said the company’s options to pursue leverage, yield or strategic partnership opportunities using its bitcoin will increase as the asset class continues to mature.
The Virginia-based analytics and business intelligence company is the world’s largest publicly traded corporate owner of bitcoin.
MicroStrategy now holds 125,051 bitcoins, which it has acquired for nearly $3.8 billion — an average price of $30,200. About 110,000 of the company’s bitcoins are not pledged as collateral and could be used to generate yield or to leverage, executives said during the company’s earnings call on Tuesday.
“In a world where, say, Goldman Sachs and Morgan Stanley and Merrill Lynch and Bank of America and CitiGroup and JPMorgan are interested and involved in the space, I think the options that will be available to us will be greater and the counter-party risk that we would have to incur will be less,” said CEO Michael Saylor.