Record Devaluation of Over $ 400 Million, MicroStrategy Desperate to Win Bitcoin Again! - Kakiforex.com - Financial Market Media No. 1 in the World Record Devaluation of Over $ 400 Million, MicroStrategy Desperate to Win Bitcoin Again! Record Devaluation of Over $ 400 Million, MicroStrategy Desperate to Win Bitcoin Again!
InstaForex

July 30, 2021

Record Devaluation of Over $ 400 Million, MicroStrategy Desperate to Win Bitcoin Again!

 MicroStrategy did not hesitate to add more Bitcoin (BTC) despite reportedly facing impairment losses of $ 424.8 million in the second quarter (Q2).


In a statement, the firm's CEO Michael Saylor expressed satisfaction with the results of the implementation of the digital asset strategy:


“Our latest capital has recorded an increase and this has allowed us to expand our holdings of digital assets which have now exceeded 105,000 BTC. For the future, we will continue to use additional capital in this strategy. ”


Despite receiving criticism from the media for taking the bold decision to collect more Bitcoin (BTC) when the crypto market failed, Saylor and CFO of MicroStrategy, Phong Li described the move as a wise decision and would reap as much Bitcoin as possible:



“Our macro strategy is to collect Bitcoin. We will help explain Bitcoin to supervisors, the public, and the media. ”


Touching on issues related to the relocation of Chinese miners abroad, Saylor said the situation is actually a good thing for Bitcoin especially since it creates decentralized (decentralized) mining around the world.


"While in the long run, 'Westernization of Bitcoin' is good for Bitcoin, the dollar, and Western technology."


However, Saylor showed no signal to expand crypto options, such as Ethereum (ETH) as another alternative: “I can incorporate Bitcoin into the whole digital economy and make it better. Bitcoin makes things more perfect. ”