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Cryptoactives serve various purposes, ETH will revolutionize the market – said Michael Saylor, CEO of MicroStrategy –

Different crypto-assets serve different purposes, and Bitcoin (BTC) is not the only crypto-asset that may have a bright future – argues Michael Saylor, CEO of MicroStrategy software developer.

Cryptoactives serve different purposes

– There is room for all these things, but properly understood. You’ll want to build your buildings on a solid granite base, so Bitcoin has to last forever – it’s high integrity, very durable. Ethereum, in turn, is trying to dematerialize stock exchanges and the financial establishment Saylor said on CNBC. – I think once the market starts to understand these things, there is room for everyone [aktywa] – added.

Saylor’s latest words are falling right now, as his company continues to invest in BTC, recently unveiling plans to sell MicroStrategy’s $ 1 billion stock and use some of the proceeds to buy more Bitcoin.

– We also have the option of obtaining debt financing. We are able to borrow a billion dollars at zero interest and buy Bitcoins Saylor said.

Indeed, last year the company acquired “free” $ 1 billion, while in June another $ 500 million, selling debt securities with an annual interest rate of 6.125%.

As reported, the company views Bitcoin “As a long-term resource“And “Did not plan to engage in regular Bitcoin trading and did not hedge or otherwise enter into derivative contracts with respect to our bitcoin holdings.”

We will continue to monitor market conditions to determine whether to carry out debt or equity financing to purchase additional Bitcoins

– the company in prospectus filed with the US Securities and Exchange Commission.

As of June 4, 2021, the company owned approximately 92,079 BTC, which was acquired for $ 2.251 billion and at an average purchase price of approximately $ 24,450 for Bitcoin. Now this portfolio is worth over $ 3.67 billion.

Cash is rubbish

When asked about the shareholder approach to the company’s Bitcoin-oriented strategy, Saylor said MicroStrategy investors “They told us that cash is rubbish, it is a liability on our balance sheet”, which pushed the company to “Transform into a company that is able to sell enterprise software and acquire and hold Bitcoins.”

– We did it successfully using the leverage Saylor said. – This increased the brand’s strength by a factor of 100. We just had our best quarter ever – added. As he explained, “Corporate business grew by 10%. The BTC business generates returns for shareholders ”.

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