MicroStrategy CFO Phong Le: Not Done Investing In Bitcoin
MicroStrategy CFO Phong Le reassures us that the company is in no way fazed by the recent BTC price dips and the company is resolute in holding and obtaining more Bitcoin.
Now, the CFO has come out to echo what Saylor had said before. MicroStrategy still has no plans of selling its BTC despite all of the profit it has made. It plans to put all of its free cash flow or raise money through other means which are intended to go straight into its bitcoin purchases.
“Our strategy with bitcoin has been to buy and hold,” Le said. “So to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin.”
The company currently holds 124,391 bitcoins as revealed in its end-of-year filings with the SEC. At one point, the returns on investment for its BTC holdings had reached almost 100%. Even with the recent downtrend and bitcoin’s declined value, the company is still almost $1 billion in profit from its investment in the digital asset.