Sign Up on MEXC
Bitcoin has shown an exemplary resurgence recording 70% gains since the beginning of 2023 and moving to $35,000. MicroStrategy, the world’s largest corporate holder of Bitcoin, has started minting big profits on its Bitcoin holdings, which stands at an average price of under $30,000.
Michael Saylor Shares His Bitcoin Playbook
During his recent interview with Fox Business, Saylor said that in order to compete with the magnificent seven companies should ditch the conventional corporate playbook, and adopt the Bitcoin playbook to preserve their capital.
The Magnificent Seven companies are responsible for the majority of the S&P 500’s impressive nearly 13% year-to-date increase.
These prominent companies comprise Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Nvidia (NVDA), Meta Platforms (META), and Tesla (TSLA). Of these, only Tesla holds Bitcoins on its balance sheet. Also, as per the recent quarterly filings, the company continues to hold its Bitcoins with no change.
Amid the Bitcoin price rally in 2023, the MicroStrategy stock (MSTR) has also delivered a staggering 213% year to date, beating all the magnificent seven companies. In fact, MSTR has given 3-4 times the returns that all these seven companies have given.
Saylor said that most companies have been facing the heat of inflation, high-interest rates, and technology-driven deflation. Thus, he adds that by adopting a Bitcoin strategy similar to MicroStrategy, companies would be able to reward shareholders in a better way.
I discuss how companies can escape the destructive cycle of the conventional corporate finance playbook, preserve their capital, keep up with the Magnificent Seven, and create shareholder value using a #Bitcoin Strategy similar to $MSTR, with @cvpayne. pic.twitter.com/apXEYbD46O
— Michael Saylor⚡️ (@saylor) November 6, 2023
Michael Saylor explained that Bitcoin presents a groundbreaking approach for companies to safeguard their capital and enhance shareholder value. This involves utilizing their balance sheets to incorporate Bitcoin (BTC), offering a way out from the costly cycle of acquisitions, stock buybacks, dividends, and debt.
MicroStrategy Adds More BTC To Its Kitty
It’s been three years now since MicroStrategy started purchasing Bitcoins and adding them to its balance sheet. Last week, the company announced its most recent purchase of 155 BTCs worth $5.3 million.
Regarding BTC’s dominance, Michael Saylor emphasized the extraordinary performance of Bitcoin by highlighting the cumulative returns it has generated. Saylor recently shared an asset class total returns chart that revealed BTC’s incredible 1,120,785% return from 2011 to 2023. This translates to an annualized return of 147.5%, a truly remarkable figure.
- South Korea Ends 2018 Ban on VC Investments in Crypto Firms
- Wall Street’s CPI Forecast: Expert Examines if Bitcoin Price Can Sustain Triangle Breakout?
- Avalanche Seeks $1B to Launch Treasury-Focused AVAX Firms in U.S.
- Dogecoin Leads Crypto Market Rally, Expert Sees $0.50 Target on DOGE ETF Launch
- Ethereum News: Latest On-chain Activity Hints Massive ETH Purchase by Bitmine (BMNR) and SharpLink (SBET)
- AVAX Price Eyes $55 as Avalanche $1B Treasury Boost Gains Momentum
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
