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The Chief Financial Officer of MicroStrategy, Phong Le, divulged that his company will continue investing in BTC irrespective of the recent drop in the asset’s USD value.
In a recent interview, the CFO of the firm asserted that the company will keep increasing its Bitcoin holdings this year and that notion is not related to the crypto asset’s short-term price fluctuations.
He said,
“Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows, or we find other ways to raise money, we continue to put It into bitcoin.”
Moreover, MicroStrategy has plans to buy BTC-backed bonds if the market becomes more liquid. Le anticipates this to occur this year or next year.
When Saylor was questioned whether he is perturbed that such a noteworthy amount of the firm’s portfolio is allocated in BTC, he answered:
“It actually gives me great comfort. I don’t really think we could do anything better to position our company in an inflationary environment than to convert our balance sheet to bitcoin because we basically built a balance sheet on a non-sovereign store of value that’s not a currency derivative.”
Presently, a single MSTR share trades at around three hundred and seventy dollars, thirty two percent less than the USD value at the starting of this year.
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