Michael Saylor's Strategy Boosts Bitcoin Holdings with $4.2B Plan
Michael Saylor, chairman of MicroStrategy, defends the firm's substantial Bitcoin holdings, which control about 3% of the total supply, and potentially up to 7%, asserting it is not excessive and comparing it to BlackRock's holdings. The company reported its first profitable quarter with a $10 billion net income in Q2 and a $13.2 billion gain from BTC holdings year-to-date. MicroStrategy funds its Bitcoin acquisitions through stock issuance and debt, and plans to use yield-bearing preferred stocks to raise capital for further Bitcoin purchases, viewing its stock as undervalued and a way to generate Bitcoin-denominated returns.
