Rocket ICO Giving you a better way to make your decisions and enjoy the process of ICO backing

  • Lydian ICO
  • Markets
Latest News
  • Terra to fork and remove UST, Do Kwon says in new rescue plan   |   17 May 2022

  • Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash   |   16 May 2022

  • Binance CEO says he’s ready to support Terra (LUNA) rebuild   |   16 May 2022

  • Sam Bankman-Fried: UST crash was ‘predictable’   |   15 May 2022

  • Dogecoin drops 15% after Anon Whales shift 250 million DOGE   |   15 May 2022

  • Terra blockchain is back online after an official halt   |   14 May 2022

 
Home» Markets»MicroStrategy will buy more Bitcoin, CFO says

MicroStrategy will buy more Bitcoin, CFO says

rocketman 25 Jan 2022 Markets Comments Off on MicroStrategy will buy more Bitcoin, CFO says 70 Views

  • MicroStrategy CEO Michael Saylor noted the same thing in an earlier interview.

  • The company’s shares have plunged alongside the rout in crypto and stocks, currently trading -35% year-to-date.  

MicroStrategy will buy more Bitcoin and does not plan to sell any from its current haul, according to the US-based software intelligence company’s Chief Financial Officer.

This is the company’s plan for investing in cryptocurrency, and will continue to be the case despite the current market outlook, Phong Le toldWall Street Journal

Bitcoin prices reached highs above $69,000 in November, but they plummeted to $33,000 Monday.

Although the digital asset’s flagship has recovered 8% to $36,750 on the day, sell-off pressure continues even though the US Federal Reserve is looking to raise interest rates and increase geopolitical tensions between Russia/Ukraine.

Investors continue to feel negative about these factors, which is likely to have a cascade effect in the crypto markets.

Despite the bearish outlook for the broader crypto market, MicroStrategy isn’t swaying from its strategy, the CFO added.

“To the extent we have excess cash flows or we find other ways to raise money, we continue to put it into Bitcoin,” Le told the WSJ.

MicroStrategy owns close to 125,000. These bitcoins were bought at an average cost of $30.159.

In addition to increasing its BTC haul the company also plans to invest in the Bitcoin-backed bond marketplace. Le indicated that Le believes that the public-traded company will enter the market in 2023. This would depend on the market’s liquidity.

The diversification is part of the firm’s constant hunt for other investment opportunities that would contribute to the shareholder gains in Bitcoin.

Le’s comments come days after MicroStrategy CEO Michael Saylor said in an interview that the company wasn’t prepared to sell any of its Bitcoin. They also come after the company’s stock fell sharply on Monday.

The decline had pushed the stock’s overall losses since Friday to 30%, aligning it with the bloodbath witnessed in crypto and tech stocks. The stock’s shares are down by 35% over the past year, with similar prospects for other crypto-centric companies.

The recent declines came as it was revealed that the US Securities and Exchange Commission (SEC) had rejected MicroStrategy’s non-GAAP accounting measures. This relates to the company’s decision to adjust for BTC impairment losses, which they said would clearly reflect on the software firm’s finances.

After the SEC’s disapproval, the firm noted it would make necessary revisions in future earnings reports, which should probably reflect in its Q4 earnings results on 1 February.

Bitcoin buy CFO MicroStrategy 2022-01-25
Tags Bitcoin buy CFO MicroStrategy
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : rocketman
Previous Article :

CNBC’s Jim Cramer says BTC sell-off may be about to end

Next Article :

Here is why Cosmos (ATOM) Price is rallying

Related Articles

Terra to fork and remove UST, Do Kwon says in new rescue plan

Terra to fork and remove UST, Do Kwon says in new rescue plan

rocketman 17 May 2022
Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

rocketman 16 May 2022
Binance CEO says he’s ready to support Terra (LUNA) rebuild

Binance CEO says he’s ready to support Terra (LUNA) rebuild

rocketman 16 May 2022

ABOUT ME

lourari bra

lourari bra

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus pulvinar eros id diam gravida, id pharetra ligula cursus. Sed dapibus lectus augue, non volutpat lorem porttitor vel.

Popular Posts

Terra to fork and remove UST, Do Kwon says in new rescue plan
Markets

Terra to fork and remove UST, Do Kwon says in new rescue plan

rocketman 17 May 2022
Bitcoin Profit Review 2021: Is It a Scam Or Legit?
Reviews

Bitcoin Profit Review 2021: Is It a Scam Or Legit?

rocketman 22 Jul 2021
Yuan Pay Group review 2021 – Is it a Scam or Legit?
Reviews

Yuan Pay Group review 2021 – Is it a Scam or Legit?

rocketman 26 Jul 2021
Immediate Bitcoin Review: Does it work?
Reviews

Immediate Bitcoin Review: Does it work?

rocketman 27 Jul 2021
Bitcoin Era Review: Is this a scam?
Reviews

Bitcoin Era Review: Is this a scam?

rocketman 27 Jul 2021

Advertisement

Recent Posts

  • Terra to fork and remove UST, Do Kwon says in new rescue plan

    Terra to fork and remove UST, Do Kwon says in new rescue plan

    rocketman 17 May 2022
  • Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

    Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

    rocketman 16 May 2022
  • Binance CEO says he’s ready to support Terra (LUNA) rebuild

    Binance CEO says he’s ready to support Terra (LUNA) rebuild

    rocketman 16 May 2022
  • Sam Bankman-Fried: UST crash was ‘predictable’

    Sam Bankman-Fried: UST crash was ‘predictable’

    rocketman 15 May 2022
  • Dogecoin drops 15% after Anon Whales shift 250 million DOGE

    Dogecoin drops 15% after Anon Whales shift 250 million DOGE

    rocketman 15 May 2022

htmagazine
About HTmagazine was created in 2015 , and covers the intersection of Technology, Lifestyle, Business, Entertainment, and Culture.

Follow us

Newslater

Those an equal point no years do. Depend warmth fat but her but played. Shy and subjects wondered

Random Posts

Terra to fork and remove UST, Do Kwon says in new rescue plan

Terra to fork and remove UST, Do Kwon says in new rescue plan

Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

Luna Foundation Guard confirms it sold 80,081 bitcoins to try prevent the UST crash

Binance CEO says he’s ready to support Terra (LUNA) rebuild

Binance CEO says he’s ready to support Terra (LUNA) rebuild

Sam Bankman-Fried: UST crash was ‘predictable’

Sam Bankman-Fried: UST crash was ‘predictable’

Dogecoin drops 15% after Anon Whales shift 250 million DOGE

Dogecoin drops 15% after Anon Whales shift 250 million DOGE

Tags

Bitcoin BTC buy CEO crypto cryptos gained heres market places price stocks today token top
© Copyright 2021, All Rights Reserved