Michael Saylor wasn’t the only major proponent of bitcoin at MicroStrategy. The company’s new CEO Phong Le backed up saylor's decision to hold BTC on the company's balance sheet.
New MicroStrategy CEO Phong Le backed up Michael Saylor's decision to hold bitcoin on the company's balance sheet.
Speaking Tuesday at a conference sponsored by investment bank Canaccord Genuity, Le said that prior to first purchasing bitcoin in August 2020, MicroStrategy considering purchasing Treasurys, corporate bonds, gold, commodities, real estate and even artwork.Digital assets, however, kept popping into management's conversations, Le said. “We at our core are inventors, we’re innovators,” he said, explaining why bitcoin won out.
Le said the bitcoin strategy has boosted shares and trading volume, and helped MicroStrategy make a transition from solely being a “sleepy software company.” The company now owns about 129,000 bitcoins, or nearly $3 billion worth at the current price of $23,000.at MicroStrategy last week after Saylor stepped down to become executive chairman, with a sole focus on the company's bitcoin strategy.
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