Express

MicroStrategy CEO Thinks Borrowing Money To Buy BTC Is Like Investing In Early Facebook

Mary Liu

Summary: According to CNBC, MicroStrategy CEO Michael Saylor said that borrowing money to buy Bitcoin is like investing in Facebook in the early days.  Saylor explained to CNBC: "If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital network that you thought was going to be the dominant ...

According to CNBC, MicroStrategy CEO Michael Saylor said that borrowing money to buy Bitcoin is like investing in Facebook in the early days. 

Saylor explained to CNBC: "If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital network that you thought was going to be the dominant Amazon or Google or Facebook of money, why wouldn't you? I mean, if I could borrow $1 billion and buy Facebook a decade ago for 1% interest, I think I would've done quite well."

As an enterprise software company, MicroStrategy is known for betting on Bitcoin. Its Q2 financial report shows that although it has accrued $689.6 million in impairment losses since buying BTC, the company still plans to buy more and deploy additional capital into its digital asset strategy.

By Mary Liu

  • Mainnet Web3+AI Party Set to Illuminate New York City on September 20th 4 days ago
  • ARK Invest Acquires Rize ETF, Paving the Way for European Expansion 4 days ago
  • Balancer's Front-End Suffers Attack Resulting in $238,000 Loss 4 days ago
  • 【The Road to Innovation in Cryptocurrency】DAI's stumbling road of exploration 5 days ago
  • Could Crypto ETFs Catalyze the Next Bull Market? 10 days ago
  • You need to login to comment.