MicroStrategy Looking at Ways to Earn From Its .8B BTC Holdings
Business intelligence firm MicroStrategy is exploring ways to earn yield from its large Bitcoin (BTC) holdings.
The firm that is officially holding 122,478 Bitcoin after its latest purchase of 1,434 BTC last week, might be lending some of its holdings to a “trustworthy counterparty”, Chief Executive Officer and strong Bitcoin believer Michael Saylor said.
Speaking during a virtual investor day on Thursday, Saylor explained that he is currently looking into several options to make an ‘extra buck’ on its Bitcoin with no formal steps having been taken yet.
In addition to lending out BTC, MicroStrategy could be putting a mortgage against Bitcoin, thereby using “favorable circumstances” to generate long-term debt.
Saylor did also not rule out some way of partnering with a bank or big tech company. “You could think of that as putting a lien on it,” he said.
Lastly, the software company could also develop “some kind of interesting application” for its holdings, the presentation revealed.
MicroStrategy’s Bitcoin that it has accumulated in the past year is now valued at around $5.8 billion, good for over 50% gains on its $3.7 billion investment.
At the time of writing Bitcoin is moving hands at $46,429 according to CoinMarketCap.
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Source: igaming
