MicroStrategy Inc. has invested $ 425 million in Bitcoin to date
MicroStrategy, a company listed on Nasdaq, continues to buy Bitcoin and has invested $ 425 million to date.
Company that provides business intelligence (BI), mobile software, and cloud-based services has a clear favorite this year, which is the cryptocurrency Bitcoin. We just recently wrote to you that “MicroStrategy Incorporated bought 21,454 Bitcoins ($ 250 million) as part of New Investment Strategy” and today we have a report on further investments.
MicroStrategy (MSTR) Founder, Michael Saylor, was the first to inform about the next investment and today wrote on twitter:
Prior to the first investment in Bitcoin, the company considered different asset classes, but the characteristics of the cryptocurrency led the company to believe that the investment could provide reasonable hedging against inflation as well as a higher return compared to other assets.
Michael has also stated in a previous investment that Bitcoin is a part of the new capital allocation strategy in order to maximize long-term value for all shareholders.
According to publicly available data, the company had 2,396 employees, total assets of $ 917 million and total equity of $ 509 million in 2019.