The question concerning MicroStrategy’s possible extension this time comes in the light of Max Keiser, who seems to believe that the company has a lot of Bitcoins. Given that MicroStrategy is a BTC bimser, it does seem plausible that they would reach those figures or possibly exceed them. Michael Saylor has had a track record of making forward-thinking strategic investments.
Was That the Plan All Along? Every forecast of BTC to reach around that price threshold seems to be logical but does Saylor have this in his mind? As BTC is seen as numerous things: a currency, a commodity and even a store of value in the ever inflating dollar, one can see that Bitcoin would naturally earn its followers, giants like turnover who believe it would rise.
In the past, Michael Saylor has always adhered generating income with regard to Bitcoin Investment Trust. In favor, it seems Trump’s vision seem to be rather appealing to that end. There seems to be healthy balance between the current mood and the long term BTC vision: there is no other currency it seems that to adopt other than the queen of crypto – bitcoin.
“According to me they shouldn’t be taxing crypto. #Bitcoin is used in the same way that money is used. If you want to buy a cup of coffee with it, why should you be compelled to pay capital gains tax? Honestly speaking I was with a friend asking him that and he said ‘it really shouldn’t be taxed’ – I’ve got no objections here.” – @realDonaldTrump
— Michael Saylor⚡️ (@saylor) October 30, 2024
In addition, Crypto exchange Kraken stated their opinion as well, saying that allowing Bitcoin purchases without capital gain taxes “would be a big plus for Bitcoin adoption.” Indeed, many supporters of holding Bitcoin, argue that tax exemptions would make it much easier to use Bitcoin as a means of payment, possibly increasing the spread of using it and making it profitable for business owners to accept it.
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Further, Hours prior to Saylor’s post, MicroStrategy Updated its accounts stating that it is “The First Bitcoin Treasury Company”. Being the biggest corporate Bitcoin owner, Microstrategy heavily endorsed the assimilation of BTC into its treasury management strategy accumulating over 150,000 BTC. Since 2020 Saylor has remained a staunch supporter of bitcoin, emphasizing it as an effective inflation hedge and superior measure of value compared to traditional assets.
Scheduled Earnings of the Company
Interestingly, today, 30th October 2024, MicroStrategy will announce its financial results for the third quarter of 2024 after U.S markets close. The firm is set to conduct a live video conference at 5:00 p.m. ET regarding its financial performance.
This announcement has only heightened and fueled the hopes of the Bitcoin faithful upon the possibility that Saylor might issue some information regarding the possibility of a stock offering or a new purchase for Bitcoins.
There have also been talks about a plan of $25 billion MicroStrategy share distribution, as it has not been confirmed by Saylor. Still, the earnings call will accompany a lot of monitoring in relation to any comments that could indicate plans for future transactions regarding Bitcoins.
That $25 billion stock offering would support MicroStrategy’s business model of using its balance sheet to expand its Bitcoin holdings. Although the speculative nature of Keiser’s claim means no formal actions have been taken in this regard.
