MicroStrategy, a publicly traded business intelligence company, has made a big bet on Bitcoin.
The company has invested $425 million in the cryptocurrency, buying 21,454 bitcoins. That gives MicroStrategy a total of 38,250 bitcoins, worth about $2.
19 billion at current prices.
The move makes MicroStrategy one of the biggest corporate holders of Bitcoin. The company says it sees Bitcoin as a “long-term strategic investment.”
NOTE: Warning: Investing in Bitcoin or any other cryptocurrency involves a significant level of risk and is not suitable for everyone. Before investing, you should carefully consider your own investment objectives, level of experience, and risk appetite. The price of Bitcoin and other cryptocurrencies can be extremely volatile and unpredictable. You should therefore never invest more than you can afford to lose. Additionally, MicroStrategy does not provide advice regarding the buying or selling of any security or investment product and does not endorse any particular cryptocurrency. It is your responsibility to seek independent financial advice if necessary before making any investment decision.
MicroStrategy’s CEO Michael Saylor is a well-known Bitcoin bull. He has been vocal about his support for the cryptocurrency, and has even urged other companies to buy Bitcoin.
The company’s bet on Bitcoin comes as the cryptocurrency’s price has surged to new highs. Bitcoin hit a record high of $41,940 on January 8, and is up more than 20% since the start of the year.
The price of Bitcoin has been volatile in recent years, but has generally trended upwards. The cryptocurrency is seen by some as a store of value and hedge against inflation, while others view it as a speculative investment.
MicroStrategy’s investment in Bitcoin is a gamble, but one that could pay off if the cryptocurrency continues to rise in value.
10 Related Question Answers Found
As of September 2020, MicroStrategy owned approximately 38,250 bitcoins. In August 2020, the company announced it would be selling $250 million in convertible senior notes due 2025 in order to purchase more bitcoins. At the time, the company stated that it held about 40,824 bitcoins.
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.
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