MicroStrategy Inc. executive chair and co-founder Michael Saylor says the company will remain an attractive option to investors seeking exposure to Bitcoin even if the US approves exchange-traded funds that hold the largest cryptocurrency.
“The ETFs are unlevered and they charge a fee,” Saylor said during an interview with Bloomberg TV on Tuesday. “We provide you leverage, but we don’t charge a fee. We offer a high-performance vehicle for people that are Bitcoin long investors.” The Tysons Corner, Virginia-based enterprise software firm has made buying Bitcoin part of a dual corporate strategy, making it the largest publicly traded company to hold the digital-asset on its balance sheet. MicroStrategy held about $6.5 billion of Bitcoin as of Nov. 30.
Analysts anticipate the US Securities and Exchange Commission will authorise Bitcoin spot ETFs by the middle of January. “We can take advantage of intelligent leverage,” Saylor said. “We can borrow money at zero percent interest for many many years, and we did that with the convert, and we can use that to buy Bitcoin.” MicroStrategy’s shares have surged over 300% this year, outperforming Bitcoin as it rallied about 150% during this same period.