Phong Le, the new CEO of Microstrategy, stated that the company has examined all other options in detail before taking the Bitcoin (BTC) step. “We considered buying real estate, gold, Treasury bonds and even artwork before buying bitcoin,” Phong Le said.
Phong Le, the new CEO of MicroStrategy, who announced that he would keep Bitcoin on the company's balance sheet in August 2020, surprising the whole world, and has been regularly buying Bitcoin for 2 years, backed this policy of Michael Saylor and said that they made the right decision.
"We chose Bitcoin because we are innovative"
Speaking at a conference he attended yesterday, the new CEO stated that they are investigating the acquisition of many assets, including artwork, before August 2020:
"We discussed and examined the purchase of many assets, from gold to bonds, from real estate to commodities and even works of art. At some point, digital assets began to enter our conversations. This is normal. After all, we are people who produce, invent and innovate."
Stating that in September 2020, investors who are not interested in the company's Bitcoin strategy, they gave the right to exit the shares with a 15% premium, Le said, “In this sense, it was a sale far below what we expected. While we were expecting sales of 250 million dollars, only 60 million were obtained," he said.
Le also said that Bitcoin strategies have increased company shares and trading volume and helped MicroStrategy stop being a "sleepy software company."
As it will be remembered, Michael Saylor stated that he left the CEO of the company last week and that MicroStrategy would focus more comfortably on Bitcoin policy.
Although the cryptocurrency market has been stagnant in recent days and prices haven't changed much, Bitcoin (BTC) has seen the day with a drop. Cryptocurrency market cap has dropped 3.74% in the last 24 hours.