MicroStrategy, a publicly traded business intelligence company, has announced it now holds more than $1 billion worth of bitcoin.
This is a major move for the company and one that signals its belief in the long-term potential of the cryptocurrency.
MicroStrategy first revealed its interest in bitcoin in August 2020 when it purchased 21,454 bitcoins for $250 million. At the time, it said it viewed bitcoin as “a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
Since then, the price of bitcoin has soared and MicroStrategy has continued to buy more. It has now accumulated a total of 70,784 bitcoins, worth over $1 billion at current prices.
NOTE: WARNING: Investing in Bitcoin can be highly risky. Before investing any money in Bitcoin, you should always do your own research and consider the risks associated with investing. Be aware that MicroStrategy has not disclosed how much Bitcoin it owns, so there is no way to accurately assess how much of a risk investing in the company entails. Cryptocurrency investments are also subject to market risk and price volatility, so you should be prepared to potentially lose your entire investment.
This makes MicroStrategy one of the largest corporate holders of bitcoin. Other companies that have invested significant sums into the cryptocurrency include Square, which has invested $50 million, and Tesla, which has invested $1.
5 billion.
MicroStrategy’s CEO Michael Saylor has been a big proponent of bitcoin, regularly tweeting about its potential and urging other companies to follow suit.
The company’s embrace of bitcoin is part of a wider trend among corporations. More and more companies are starting to view bitcoin as a viable investment option, driven by the growing belief that it will become increasingly mainstream in the years ahead.
It remains to be seen how MicroStrategy’s bet on bitcoin will pay off in the long run. But for now, it appears to be a bold and ambitious move that could pay off handsomely if bitcoin continues to rise in value.
7 Related Question Answers Found
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
The total number of Bitcoin nodes around the globe is constantly growing and as of July 2019, there were over 10,000 reachable nodes according to Bitnodes.io. Nodes are required to keep the Bitcoin network secure as well as decentralized. In order for a node to be considered active, it must have the most up-to-date copy of the blockchain and relay information about new blocks and transactions to other nodes.
A bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
In Bitcoin, a transaction is a record of value that is transferred from one person or entity to another. Transactions are made using bitcoins, which are created as a reward for solving math problems. Bitcoin transactions are public and can be seen by anyone on the network.
When it comes to Bitcoin, there is no such thing as too much information. Whether you are a newbie just getting started in the world of cryptocurrency or a seasoned pro, there is always something new to learn about Bitcoin. So, how many blocks is a Bitcoin?
As of September 2019, the average person owns 0.0006 Bitcoin. This number was calculated by taking the total number of Bitcoin in circulation and dividing it by the total number of people in the world. The total number of Bitcoin in circulation is 18,527,100 and the total number of people in the world is 7,486,384,600.
