Author: Mustafa Mulla Aug 3, 2023 10:31
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Michael Saylor, MicroStrategy’s co-founder, has stated that his firm will continue to accumulate Bitcoin regardless of the approval of exchange-traded funds (ETFs). Saylor believes that MicroStrategy’s Bitcoin operating strategy sets it apart from spot ETFs. The company has more than 470 institutional shareholders and intends to sell up to $750 million in class A common stock, with the primary use of the proceeds being to acquire more Bitcoin. The firm’s existing holdings of 152,800 BTC are expected to increase in the coming quarters. Analysts have raised the chances of spot Bitcoin ETF approval in the US to 65%.
Source: https://coinpedia.org/crypto-live-news/microstrategy-co-founder-stays-bullish-on-bitcoin-strategy/