Leggi questo articolo in Italiano
Bitcoin: ATH continued. For Saylor BTC is worth as much as NY real estate
By Davide Grammatica
Michael Saylor will continue to “buy the highs” of Bitcoin (at his ATH above $107k), for a strategy that traces his approach to the “Manhattan real estate market”
MicroStrategy and the continued rally on BTC
During the past few weeks, with Bitcoin rising even above the $100k fundamental level after absorbing some strong corrections, many have been asking questions about MicroStrategy’s “aggressive” strategy with respect to the asset.
In the past day alone, the company bought new 15,350 BTC, coming in to manage about $46 billion in the first cryptocurrency (439,000 BTC). Many have wondered what Michael Saylor’s plan is, and how far he intends to go, and the company’s founder answered for himself during an interview.
“Every time the value of Manhattan real estate goes up, more debt is issued to develop new real estate,” Saylor told CNBC. “That’s why buildings are so high in New York City: it’s been going on for 350 years, and I would call it an economy.”
Any day is good for bitcoin
What MicroStrategy does, then, would mirror this approach, with maximizing returns to shareholders through financing (72.4 percent return on Bitcoin investments for 2024) allowing it to expand its Bitcoin reserves. These, in turn, as they appreciate, create new value for shareholders.
A strategy that is not without risk, given the company’s limited cash reserves, but is seen as “the only way” by Saylor, for whom every day is “a good day to buy Bitcoin”.
After the latest round of buying, MicroStrategy’s shares jumped 5 percent, and the recent listing on the Nasdaq 100 opens up exciting new scenarios.
