Michael Saylor Knew MicroStrategy Couldn't Outgrow Likes Of Apple, Microsoft, Google So He Invested In Bitcoin: : 'We Started.. Digital Monopoly Of Our Own'

Grand News Network | November 7, 2023

MicroStrategy Inc (NASDAQ:MSTR) CEO Michael Saylor shared insights into the company’s decision to invest in Bitcoin (CRYPTO: BTC) as a means to drive growth and protect capital. 

What Happened: Saylor in an interview with Fox Business on Monday acknowledged that as a mid-sized software company, it was apparent that competing with tech giants like Google, Microsoft, and Apple was not a viable option for MicroStrategy.

“What we did in August of 2020 was recognize that there’s no way we’re going to outgrow Google and Microsoft and Apple computers as a mid-sized software company… So we started looking to do an acquisition of a high growth, digital monopoly of our own. And we realized that Bitcoin is like a high tech dominant digital network growing at 40 or 50% a year. And so we bought it, it’s kept growing 40 or 50% a year. And now we’re using our balance sheet to grow the company as well as our P&L," said Saylor.

Full story available on Benzinga.com

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