The Interchange: MicroStrategy's first mover advantage into bitcoin as corporate treasury is already demonstrating eye-watering results

Quick Take

  • Recapping MicroStrategy investor day
  • The company is building a team to explore cloud-based blockchain analytics capabilities
  • MicroStrategy corporate bitcoin treasury policy is already exhibiting eye-watering results – if the company were to sell all of its bitcoin today the realized gain would nearly match total company free cash flow over the past 5 years!
I continue to be enamored with everything that is MicroStrategy’s historic “indefinite Bitcoin Treasury Reserve Policy.” A policy that states the company will continue to purchase additional bitcoin (currently have ~38K BTC) as the firm generates cash beyond what is needed to run the business on a day-to-day basis (what they have determined to be […]

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