According to BlockBeats, on October 11, MicroStrategy founder Michael Saylor said in a recent interview with analysts from research and brokerage firm Bernstein that the company’s ultimate goal is to become a leading Bitcoin bank.
MicroStrategy has been actively acquiring Bitcoin since 2020, using debt and equity to maximize returns and outperform many traditional investments. The company announced its latest purchase of 7,420 Bitcoins last month, bringing its holdings to 252,220 Bitcoins, currently worth just over $15 billion, at a total cost of approximately $9.9 billion and with $4 billion in debt. This is equivalent to 1.2% of the total supply of 21 million Bitcoins, making MicroStrategy the world's largest corporate Bitcoin holder.
Michael Saylor's theory is that Bitcoin is the best performing asset of the 21st century. He sees it as a revolutionary digital capital that provides a powerful hedge against inflation and a superior tool for long-term value storage. Saylor believes that Bitcoin's volatility attracts investors seeking high returns and that it will become a necessity in institutional and retail portfolios over time.
Gautam Chhugani, head of digital assets at Bernstein, told clients in a note Friday that Saylor sees MicroStrategy’s core business as creating capital markets instruments around Bitcoin, including equities, convertible bonds, fixed income and preferred stocks.
Saylor said: "It's the most valuable asset in the world. The ultimate goal is to be the leading Bitcoin bank, or merchant bank, or you can call it a Bitcoin financial company. If we end up with $20 billion in convertible bonds, $20 billion in preferred stock, $10 billion in debt and $50 billion in some kind of debt instruments and structured instruments, we will have $100 billion to $150 billion in Bitcoin." (The Block)
