NEWS ZAP
Michael Saylor: Bitcoin is “A Trillion-Dollar Opportunity” for Tech Giants
MicroStrategy CEO Michael Saylor said during the firm’s July 29 earnings call that his company will continue to buy and hold bitcoin, a digital property that he noted is “the most compelling technical opportunity of the decade.”
The Virginia-based software company has come to be known as one of the strongest advocates for bitcoin, due in part by how much of the asset it owns.
MicroStrategy bought 13,759 bitcoins during the second quarter for an average price of $38,467, President and CFO Phong Le, reported. The company ended the quarter with 105,085 total bitcoins held at an average price of $26,080.
“There will never be more than 21 million bitcoin, and we feel like there’s a land grab right now to acquire as much as you can,” Saylor said.
