What is it about?
Michael Saylor at MicroStrategy was the first company to embrace Bitcoin as a treasury asset, to hold on the firm's balance sheet. This transformed the relationship of MicroStrategy with its investors. Individuals and fund managers now hold MicroStrategy stock because of its holdings of Bitcoin.
Featured Image
Photo by Kanchanara on Unsplash
Why is it important?
There are implications for corporate finance if companies follow MicroStrategy's lead.
Perspectives
MicroStrategy stock had flatlined for a decade until Michael Saylor decided to buy Bitcoin as a treasury reserve asset. The implications for corporate finance are far-reaching if a "Bitcoin Clientele" effect becomes as prominent as the dividend clientele effect.
Dr Peter J Phillips
University of Southern Queensland
Read the Original
This page is a summary of: Michael Saylor, MicroStrategy, and the Bitcoin Clientele Effect, SSRN Electronic Journal, January 2022, Elsevier,
DOI: 10.2139/ssrn.4270982.
You can read the full text:
Contributors
The following have contributed to this page
