MicroStrategy Goes Big On Bitcoin, Adds 19,452 Bitcoins Worth $1.026 Billion

MicroStrategy, one of the biggest independent business intelligence company has declared its latest feat in crypto asset addition. According to a press release it said it had purchased a  round sum of 19,452 bitcoins which worth about $1.026 billion.

This means each bitcoin worths $52,765 including additional fees and expenses.

Why Did MicroStrategy Invest This Big?

MicroStrategy had an initial 90,531 bitcoins, they were bought for a round up sum of $2.171 billion. It had an average purchase price of about $23,985 per bitcoin, this includes fees and expenses. This was the amount they had as at February 24, 2021.

Michael J. Saylor, the CEO of MicroStrategy while speaking on this said the firm had high hopes in bitcoin’s future. He said they’re putting their attention on the company’s strategies. The strategies are to “grow their enterprise analytics software business and acquiring and holding bitcoin.”

The organization presently holds more than 90,000 bitcoins, reaffirming its conviction that bitcoin can fill in as a reliable reserve of significant worth.

MicroStrategy will keep on pursuing the procuring of bitcoin with huge money. However, the firm may occasionally as subject to economic situations, issue equity securities with the target of utilizing the returns to buy extra bitcoin.

MicroStrategy Future

The firm is an independent publicly-traded firm which aim is to enable intelligence everywhere.

MicroStrategy Incorporated has three functioning, well optimized arms to it. It’s registered trademarks are MicroStrategy, HyperIntelligence, and Intelligence Everywhere. It’s present and future aim is to enable its clients to take proper decisions quickly. 

Phong Le, President & CFO, MicroStrategy Incorporated said;

“MicroStrategy remains dedicated to our enterprise analytics customers and our goal of operating a growing profitable business intelligence company.”

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