THAT'S GOING DO BE A REALLY GOOD
ONE. LET'S CHECK OUT BITCOIN. SURGING HIGHER OVER THE PAST WEEK, UP 20% FOLLOWING A FEW ROUGH MONTHS GUESS WHO CAME ALONG FOR THE RIDE, BUSINESS SOFTWARE FORM MICRO STRATEGY THE STOCK CLOSELY TRACKING BITCOIN PERFORMANCE AS MIC ROW STRATEGY CONTINUES TO ADD CRYPTO TO ITS BALANCE SHEET THE COMPANY FILED TO SELL UP TO $1 BILLION IN STOCK TO POSSIBLY FUND EVEN MORE BITCOIN PURCHASES LET'S BRING IN CEO MICHAEL SAYLOR, THANK YOU SO MUCH FOR JOINING US ON "FAST MONEY. YOU'RE GOING TO HAVE TO EXPLAIN TO US, YOU'RE A BUSINESS SOFTWARE FIRM, WHY DO YOU KEEP BUYING BITCOIN THREE LARGE PURCHASES IN LESS THAN A YEAR. WELL, FIRST, THE WORLD'S WAKING UP TO THE FACT THAT. BITCOIN IS DIGITAL PROPERTY ON
AN OPEN MONETARY NETWORK AND THAT'S PRETTY PROFOUND BECAUSE IT'S GOING TO SPREAD TO BILLIONS OF PEOPLE AROUND THE PLANET. IT'S DIGITAL GOLD ON A BIG TECH NETWORK. WE HAVE TWO STRATEGIES, ONE OF OUR STRATEGIES IS TO ACQUIRE AND HOLD BITCOIN SO MICRO STRATEGIES FIRST COMPANY TO DO A DUTCH AUCTION OR SHARE PERFECT TO BUY BITCOIN WE'RE THE FIRST COMPANY TO DO A CONVERTIBLE DEBT OFFERING TO BUY BITCOIN. WE BECAME THE FIRST TO BECOME THE FIRST SENIOR SECURE DEBT OFFERING TO BUY BITCOIN. AND WE PUT IN PLACE THIS $1 BILLION AT THE MARKET SHELF REGISTRATION SO WE WOULD HAVE A STANDING PROGRAM
TO BE ABLE TO GO BACK TO THE CAPITAL MARKETS. TO ISSUE EQUITY IN THE FUTURE,
SHOULD THE CIRCUMSTANCES PRESENT THEMSELVES, AND WE'D USE THAT EITHER TO BUY BITCOIN OR TO RETIRE DEBT OR GENERAL CORPORATE PURPOSES WE HAVE A STANDARD SHARE REPURCHASE PROGRAM WE CAN BUY OUR OWN SHARES WE HAVE $200 MILLION OR MORE IN THAT PROGRAM AND WE'RE PAIRING THIS PROGRAM WITH THAT SO THAT THE COMPANY HAS ALL ITS OPTIONS OPEN IN THE FUTURE. IT SEEMS YOU'RE VERY INVOLVED IN BITCOIN IS THIS DISTRACTING FROM WHAT MICRO STRATEGY MEAN BUSINESSES,IS THIS WHAT INVESTORS REALLY WANT YOU TO BE DOING. I THINK IT'S ACTUALLY AN IDEAL SITUATION BECAUSE OUR STOCK WAS TRADING $120 A SHARE WITH $6 A SHARE IN CASH, AND OUR INVESTORS TOLD US THE CASH WAS TRASH, IT WAS A LIABILITY ON OUR BALANCE SHEELT AND SHEET AND IF WE HAD GIVEN IT ALL BACK WOULD BE TRADING AT $60 A SHARE. INSTEAD WE ROTATING OUR SHAREHOLDER BASE AND TRANSFORMED OUR SELF INTO A COMPANY THAT'S ABLE TO SELL ENTERPRISE SOFTWARE AND TO ACQUIRE AND HOLD BITCOIN AND WE'VE DONE IT SUCCESSFULLY WITH LEVERAGE.-- THAT HAS INCREASED THE POWER
OF THE BRAND BY A FACTOR OF 100. WE JUST HAD OUR BEST SOFTWARE QUARTER IN HISTORY IN THE LAST TEN YEARS, LAST QUARTER, THE CORE OF THE BUSINESS IS UP 10%, THE BITCOIN BUSINESS IS DRIVING SHAREHOLDER RETURNS, I THINK THE SHAREHOLDERS ARE HAPPY MICHAEL, IT'S KAREN, THANK YOU FOR BEING ON OUR SHOW. LET ME ASK YOU ABOUT WHEN YOU DID THE OFFERING FOR DEBT TO POTENTIALLY BUY BITCOIN, HOW DO YOU THINK ABOUT THAT VERSUSISSUE EQUITY I DON'T KNOW PAYING SIX AND CHANGE PERCENT.
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