MicroStrategy Increases Bitcoin Holdings in Preparation for Inclusion in Nasdaq 100
MicroStrategy Inc., a software company that has pivoted to become a major player in the world of Bitcoin investments, recently purchased an additional $1.5 billion worth of the cryptocurrency. This move further solidifies the company’s position as one of the biggest institutional holders of Bitcoin.
MicroStrategy’s CEO, Michael Saylor, has been vocal about his belief in the long-term potential of Bitcoin as a store of value. The company first began investing in Bitcoin in August 2020, and since then, it has made multiple purchases of the cryptocurrency.
With this latest purchase, MicroStrategy now holds a total of approximately 105,085 Bitcoins, acquired at an average price of around $26,080 per coin. This investment has proven to be incredibly profitable for the company, as the price of Bitcoin has surged since they first started buying in.
Saylor has stated that he sees Bitcoin as a hedge against inflation and a way to protect the company’s treasury assets. By diversifying into Bitcoin, MicroStrategy has positioned itself to potentially benefit from the continued growth and adoption of the cryptocurrency.
This significant investment in Bitcoin by MicroStrategy underscores the growing trend of institutional adoption of cryptocurrencies. It will be interesting to see how other companies follow suit and incorporate digital assets into their investment strategies in the coming months and years.
