U.Today – Over the past two days, the cryptocurrency market has recovered from the previous volatility and has risen by more than 3% to $57,000. Amid this surge, MicroStrategy President and Co-Founder Michael Saylor has sent out an epic commentary on Bitcoin.
Bitcoin as a corporate solution
It is worth noting that Saylor’s comments are a response to a post by Lyn Alden, founder of Lyn Alden Investment Strategy. Alden’s post highlighted her recently published article titled “A Fresh Look at Corporate Treasury Strategy.”
The article discusses the logic behind corporate Bitcoin acquisitions and the reasons why some firms have historically tended to undercapitalize. In the article, Alden also discussed the dominance of the Bitcoin network, liquidity, and institutional interest.
Commenting on Alden’s article, Saylor stated: “Bitcoin will fix your company’s balance sheet.” Saylor’s statement sparked debate in the online community, with many agreeing with what he said. “The best collateral layer you can hope for. It will transform treasury management,” says user X @McDonaghMatthew.
Meanwhile, Saylor’s comment comes just days after a recent Bitcoin purchase by MicroStrategy. MicroStrategy reportedly remains the largest corporate Bitcoin holder with 226,500 BTC valued at roughly $12.9 billion at the current market price. Renowned Bitcoin mining firm Marathon Digital (NASDAQ:) comes in a distant second with $1.29 billion worth of Bitcoin.
In a previous report, Saylor claims that Bitcoin helps his company outperform its competitors. To back up his claim, Saylor published a diagram illustrating Bitcoin’s advantages over other assets. The diagram also highlighted MicroStrategy’s performance over other leading global tech companies such as Microsoft (NASDAQ:) and Amazon (NASDAQ:).
Bitcoin price approaches $57,000
Bitcoin has quickly regained its footing in the $57,000 price range after experiencing short-term market volatility. At press time, BTC is trading at $57,142, representing a 4% increase over the past day. However, trading volume decreased by 37% to $41 billion.
This article was originally published on U.Today
