One of the world’s biggest software companies has announced plans to grow its stash of Bitcoin to $42 billion by 2027. During the company’s Oct. 30 earnings call, CEO Phong Le shared this target, which the company is calling the “21/21” plan, a dual approach.
To purchase the Bitcoins, MicroStrategy wants to take out $21 billion of debt and another $21 billion via equity offerings. Such strategy includes an issue of new stock and capital raises to help increase cash flow from company’s software operations as well as its Bitcoin acquisition initiative.
Michael Saylor’s Global Vision
Now, with Bitcoin recently hitting highs of $70,000, MicroStrategy’s holdings, now worth over $18 billion, have helped bolster the company’s balance sheet. This 558 BTC accumulation has seen the positive effect on the stock of the crypto asset, MSTR, whose stock has ballooned as the crypto asset appreciated.
According to founder Michael Saylor, MicroStrategy seeks to globally promote Bitcoin as a treasury reserve asset. Saylor’s idea is to have adoption on a country, city, state, and public and private scale. This line of thinking mirrors Saylor’s long held belief in Bitcoin’s strategic financial worth and he said on that note that “we’re going to promote global adoption of BTC as a treasury reserve asset.”
This also echoes other high profile figures. Adding to Bitcoin’s momentum in becoming a sovereign asset is presidential candidate Donald Trump who has also proposed putting out a national strategic reserve of Bitcoin.
With the swinging market, Bitcoin realized an all time high of $73,000 before a 4 percent correction. Saylor has stayed the course, not fazed by market volatility, as he continues to work towards holding MicroStrategy’s Bitcoin forever and passing it down to future generations.
Michael Saylor leads MicroStrategy’s $42 billion Bitcoin acquisition plan, promoting global Bitcoin adoption as a treasury reserve asset.
