MicroStrategy considers bitcoin investment a responsibility of IT companies
26.05.2021 | auglovoi
Phong Le urges technology companies around the world to transfer some of their reserves and free liquidity into bitcoins. He believes that IT industry representatives, more than anyone else, should support the cryptocurrency industry, thus fulfilling their duty to the society, which entrusts them with the role of a leader in the sphere of innovation. In addition, technology companies, having the first cryptocurrency on their balance sheet, will be able to increase shareholder value in the market.
First of all, according to Le, those who provide services in the market of cryptocurrencies and blockchain technology should transfer their reserves or part of them into digital gold. In this way, they can increase trust in their business.
Microstrategy itself has been steadily purchasing bitcoins for nearly a year, investing all of its available funds into digital gold, as well as borrowing capital. If you compare the company’s shareholder value on Nasdaq and the value of the first cryptocurrency coins, at present about 74% of MicroStrategy’s capitalization is in bitcoins, and at the peak of the value of cryptocurrencies on online exchanges, this figure reached up to 82%.