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MicroStrategy’s Saylor Defends Buying Bitcoin, Topping $92,000
In a recent move, Michael Saylor, the CEO of MicroStrategy, has continued to defend his company’s decision to invest in Bitcoin. This comes as the cryptocurrency has hit new highs, with its price reaching an intraday low of $92,441 earlier today.
Despite criticism from naysayers such as Peter Schiff, who suggests that Saylor is running out of firepower to keep propping up Bitcoin, the CEO remains unwavering in his stance. In fact, MicroStrategy is set to hold a shareholder vote to increase the number of authorized Class A shares to 10.33 billion, further solidifying its commitment to the digital asset.
Saylor’s defense of his company’s actions is unlikely to be swayed by criticism from individuals like Schiff, who has been vocal in his disdain for Bitcoin. The CEO has consistently emphasized the long-term potential of the cryptocurrency and the value it holds as a store of wealth and an inflation hedge.
As for MicroStrategy’s recent purchase, some analysts have raised concerns about its size relative to the company’s previous buys. However, Saylor remains committed to the strategy of investing in Bitcoin, which he believes will ultimately generate significant returns.
In related news, MicroStrategy is set to hold a shareholder vote on increasing the number of authorized Class A shares to 10.33 billion. This move would give the company more flexibility and potentially allow it to continue its aggressive buying strategy.
It remains to be seen how this development will impact the broader crypto market.
Source: u.today
