Is Michael Saylor’s aspect of the story the truth of the state of affairs? Or is he on a injury management tour? The ex-MicroStrategy CEO spent the entire day as a visitor in what looks like each US monetary present in existence, letting everybody know that this complete factor was his concept. Saylor picked his successor for the CEO seat and declared himself Executive Chairman, to deal with the corporate’s bitcoin technique. As it normally occurs, mainstream media framed it otherwise.
Since bitcoin’s worth remains to be down as compared with the highs of yesteryear, mainstream media doesn’t miss a possibility to dunk on the asset class. This time was no exception, since MicroStrategy common bitcoin buy stands at round $30K, and bitcoin’s present worth is round $24K, most mainstream sources reported that the corporate had by some means misplaced $1B and prompt that may be the explanation behind Saylor’s outing.
Even Bitcoinist joined in on the party. Besides the bitcoin aspect of issues, we stated:
“According to a Bloomberg article citing knowledge from monetary analytics agency S3 Partners, a file 51 % of the corporate’s excellent shares are being bought brief at a notional worth of $1.35 billion.
The analytics firm stated that the all-time excessive of 4.73 million shares shorted elevated by 1.2 million shares within the final 30 days alone.”
On the opposite, for the reason that Saylor information hit the Internet, MSTR shares are up by round $40. And that’s not even the juicy a part of MicroStrategy’s bitcoin story.
MSTR worth chart on NASDAQ | Source: TradingView.com
Michael Saylor’s Television Tour
The ex-CEO began the day tweeting, “In my next job, I intend to focus more on Bitcoin.” A humorous one-liner that comprises a lot fact. But the day and Saylor’s tour was simply getting began. His first cease was on CNBC’s Squawk on The Street, and on the tweet selling his efficiency Saylor wrote, “Since adopting a Bitcoin Strategy, $MSTR has outperformed every asset class & big tech stock. With my ascension to Executive Chairman, the promotion of Phong Le to CEO & arrival of CFO Andrew Kang, our team is stronger than ever & we are full speed ahead.”
Since adopting a #Bitcoin Strategy, $MSTR has outperformed each asset class & massive tech inventory. With my ascension to Executive Chairman, the promotion of Phong Le to CEO & arrival of CFO Andrew Kang, our group is stronger than ever & we’re full pace forward.pic.twitter.com/HSBjEgpizc
— Michael Saylor⚡️ (@saylor) August 3, 2022
According to Saylor, the MSTR inventory is up “123% through August 1st,” outperforming bitcoin itself, which is 94% up in the identical time interval. Not solely that, however it additionally outperformed the S&P 500 and Nasdaq, that are solely barely up; and gold, silver, and bonds, that are down. Besides that, it dubled Google’s progress and outperformed Apple in the identical interval. And Amazon, Meta, and Netflix are down.
MicroStrategy is a hybrid firm, Saylor continues. Their enterprise intelligence and enterprise software program companies have steady income and good money circulation. Bitcoin is simply their treasury reserve asset, and contemplating the inflation charges on virtually each nation on Earth, it’s an exceptional one. According to Saylor, the asset is liable for getting the corporate by way of this “difficult financial period” through which “most currencies are crashing and most assets are struggling.”
About The Supposed Loses
Obviously, all the TV hosts Saylor visited requested him concerning the $1B that MicroStrategy supposedly misplaced. MicroStrategy has not bought one BTC to date, how can that be certified as a loss? According to the CEO, it was only a “non-GAAP impairment charge for the quarter” and all the stockholders knew it was coming. In the Bloomberg interview, Saylor described it as “a non-cash indefinite intangible loss.”
Michael Saylor on Bloomberg:#bitcoinpic.twitter.com/SZJXa2X4j8
— Neil Jacobs (@NeilJacobs) August 3, 2022
According to Investopedia, “a non-cash charge is a write-down or accounting expense that does not involve a cash payment. They can represent meaningful changes to a company’s financial standing, weighing on earnings without affecting short-term capital in any way.” And these “reduce earnings but not cash flows.”
In any case, Saylor stated “volatility is vitality” and MicroStrategy embraces the volatility.
Saylor On The Company’s Bitcoin Strategy
The title recognition that bitcoin delivered to MicroStrategy can’t be purchased. They “can’t really ignore us,” Saylor stated. Bitcoin has been a “benefit on marketing and sales” and a “net positive” for the corporate. In truth, he qualifies it as “a screaming homerun for the shareholders.”
Finally, the host asks him what everybody was pondering. Does he stepping down as CEO imply that MicroStrategy may be promoting a few of their BTC? Saylor’s reply, “Our officers and our directors are unanimously committed to the bitcoin strategy.”
Other TV Appearances
By our depend, Saylor was a visitor on three mayor TV exhibits right this moment alone. In all of them, he advised the same story. However, he dropped new nuggets of knowledge right here and there. Sharing the video of his FOX go to, Saylor wrote, “Today Charles Payne and I shared a laugh as we discussed the benefits of a Bitcoin Strategy, the outperformance of $MSTR vs other stocks & asset classes, and my decision to take on the Executive Chairman role at MicroStrategy.”
Today @cvpayne and I shared amusing as we mentioned the advantages of a #Bitcoin Strategy, the outperformance of $MSTR vs different shares & asset lessons, and my determination to tackle the Executive Chairman function at @MicroStrategy. pic.twitter.com/OsxyWhBtPF
— Michael Saylor⚡️ (@saylor) August 3, 2022
The new info is that MicroStrategy adopted bitcoin solely 2 years in the past. At the time, the corporate was valued at $666 million. Since then, they’ve “added 5 billion to that number.” That implies that it has grown 730% in 24 months. Remember, that is the worth of the corporate as an entire. The 123% progress we quoted earlier than refers back to the MSTR inventory.
Since @MicroStrategy adopted a #Bitcoin Strategy, its enterprise worth is up +730% (+$5 billion) and $MSTR is up +123%. Performance of BTC is +94%, S&P 500 +23%, Nasdaq +13%, Gold -13%, Bonds -14%, Silver -29%. GOOG +54%, AAPL +43%, MSFT +34%, AMZN -14%, META -39%, NFLX -53%. pic.twitter.com/BWHPhbOg0d
— Michael Saylor⚡️ (@saylor) August 3, 2022
In the Bloomberg interview, they requested Saylor about Tesla selling 75% of their bitcoin. He answered it was a tragic day for Tesla, however instantly took it again and stated it’s not his place to touch upon different folks’s enterprise. However, Saylor stated, “acquiring and holding high-quality property forever is a good investment strategy. And bitcoin, in my opinion, is the highest-quality property in the world.”
Featured Image: The ex-CEO, screenshot from this video | Charts by TradingView
