MicroStrategy’s Saylor: ’60 Public Companies Can Issue Equity to Buy Bitcoin’

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As a seasoned researcher with years of experience observing the dynamic world of finance and technology, I find myself intrigued by the ongoing narrative surrounding corporate Bitcoin adoption. Michael Saylor’s list of potential companies to buy Bitcoin is certainly thought-provoking. Yet, as a keen observer, I can’t help but notice the stark contrast between MicroStrategy’s aggressive Bitcoin strategy and the relative hesitance of other corporations to follow suit.

More recently, MicroStrategy’s co-founder, Michael Saylor, emphasized a list of 60 publicly traded firms that have the potential to acquire Bitcoin by issuing new shares.

Clearly, the Virginia-based company leads as the top corporate owner of Bitcoins, holding approximately 389,000 coins in its possession.

In the Bitcoin mining industry, Marathon Digital ranks second, holding approximately 34,794 coins, while Galaxy Digital follows closely behind in third place with around 15,449 coins.

Despite selling off a large part of its investments, electric vehicle company Tesla remains among the top 10, holding onto its sixth place ranking.

2024 saw MicroStrategy rise to prominence as one of the most successful stories, thanks to significant profits. However, this company has lately drawn increased attention because of its unorthodox debt-to-Bitcoin approach, causing some skeptics to sound warnings about its long-term viability.

The adoption of Bitcoin by corporations remains largely in its initial stages, as only a small number of businesses have embraced it, even though MicroStrategy has seen significant success with this approach.

Some experts argue that because the company is so powerful in this market, purchasing Bitcoin could appear less enticing to potential new investors.

It appears that many businesses deeply involved in cryptocurrency have yet to fully embrace it. To illustrate, out of the 12 publicly listed Bitcoin mining companies, none of them currently hold any Bitcoin on their books.

“No demand”

Peter Schiff, a well-known financial analyst, criticized Saylor by suggesting that his advocacy for public companies to invest in Bitcoin stems from a lack of interest in Bitcoin among the broader public.

He stated that the rationale behind suggesting public companies purchase Bitcoin is because there’s limited interest in Bitcoin among the masses. As a result, these companies are essentially acting as market supporters, helping to maintain Bitcoin’s value, which might otherwise be insignificant, by buying it.

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2024-12-01 16:39