MicroStrategy Is Not Selling Its Bitcoin, Says New CFO

• MicroStrategy’s caller CFO, Andrew Kang, confirms the institution volition not beryllium changing its bitcoin strategy.
• Kang foresees stronger regulations pursuing the events of caller turmoil successful the cryptocurrency markets.
• Gary Gensler, seat of the SEC, says helium thinks a batch of tokens extracurricular of bitcoin volition fail.

The bargain and clasp bitcoin tactics of MicroStrategy won’t beryllium changing contempt the caller selloff according to a caller interrogation with the Wall Street Journal and the company’s recently appointed CFO, Andrew Kang.

“At this time, we bash not person immoderate volition to sell,” Kang told the WSJ. “There are nary scenarios that I’m alert [in which] we would sell.”

Kang continued to explicate that MicroStrategy had not felt unit from immoderate stakeholders to sell, indicating a wide alignment of investors successful the institution and its bitcoin strategy. While Kang did accidental the institution regularly monitors the terms of bitcoin, helium was not consenting to remark connected aboriginal purchases of bitcoin.

“Some of the much caller volatility was surely astir immoderate of the enactment extracurricular of bitcoin,” Kang explained. “For us, we show that from a marketplace perspective, but determination [isn’t] thing cardinal to bitcoin that we judge presents immoderate issues against our strategy.”

Kang went connected to explicate that caller volatility experienced successful the marketplace arsenic a full would apt pb to caller regularisation of the broader cryptocurrency market, which MicroStrategy is supportive of. This sentiment was echoed by the Securities and Exchange Commission (SEC), who had precocious announced the doubling of staffing for the Crypto Assets and Cyber unit.

“I deliberation a batch of these tokens volition fail,” Gary Gensler, seat of the SEC, told the WSJ aft a caller House Appropriations Committee panel. “I fearfulness that successful crypto…there’s going to beryllium a batch of radical hurt, and that volition undermine immoderate of the assurance successful markets and spot successful markets writ large.”