MicroStrategy co-founder Michael Saylor announced in an interview with CNBC that the company will transform into a Bitcoin-focused development firm and emphasized the positive impact of Bitcoin ETFs on the market. He pointed out that the demand for Bitcoin spot ETFs exceeds the miner supply by ten times.
MicroStrategy, which holds the most Bitcoin among listed companies, discussed the positive impact of Bitcoin ETF launches on Bitcoin prices and revealed the company’s rebranding plan during an interview with CNBC. This plan will redefine MicroStrategy’s business focus and transform it into a company specializing in Bitcoin development. Saylor stated:
Saylor emphasized that this move aligns with the company’s development direction and highlighted the success brought by the Bitcoin-centric strategy, as well as MicroStrategy’s position as the largest publicly traded Bitcoin investor worldwide. He pointed out that MicroStrategy’s operational model is more diversified than traditional investment trusts, allowing the company to engage in software development, generate cash flow, leverage capital markets, accumulate Bitcoin for shareholders, and contribute to the development of the Bitcoin network.
Preview: Demand for Bitcoin ETFs is ten times the supply
When discussing Bitcoin ETFs, Saylor stated that the demand for Bitcoin ETFs has been suppressed for a decade until the recent launch of Bitcoin spot ETFs, allowing mainstream investors to finally access BTC, and this demand has started to be substantially met. He believes that it is this accessibility that has led to a significant influx of funds into ETFs. He stated:
Lookonchain statistics show that US Bitcoin ETFs increased their holdings by 10,926 BTC yesterday (13th), marking the fifth consecutive day of capital inflow. In addition to GBTC, 8 other ETFs increased their holdings by 12,073 BTC ($590 million), while GBTC only decreased by 1,147 BTC ($56 million), with the scale of capital outflow decreasing continuously since January 22nd.
Furthermore, Saylor emphasized the attractiveness of Bitcoin, pointing out its lack of correlation with traditional risk assets and its independence from any specific country, company, economic cycle, or external factors such as weather and geopolitical events.
MicroStrategy has increased its cryptocurrency holdings this year, reaching 190,000 BTC. Since the fourth quarter of last year, the company has purchased a total of 31,755 BTC, marking the largest quarterly increase in the past three years and the 13th consecutive quarter of increase.
With Bitcoin surpassing $49,000, the company’s Bitcoin investment currently has an unrealized profit of $3.493 billion. The total cost of the Bitcoin holdings is $5.93 billion, with an average purchase price of $31,224 per BTC.
Source:
bitcointreasuries
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