Introduction:
MicroStrategy, a business intelligence firm, has been making headlines for its aggressive Bitcoin investment strategy. The company has made it clear that it sees BTC as a legitimate store of value and a hedge against inflation. MicroStrategy has been purchasing BTC since August 2020 and has amassed an impressive amount of the cryptocurrency. As of February 17, 2021, the company’s BTC holdings were worth nearly $5 billion.
MicroStrategy’s Bitcoin Investment:
MicroStrategy’s BTC investment has been incredibly lucrative so far. In the third quarter of 2020, the company purchased 38,250 BTC for $425 million. At the time, BTC was trading at around $11,000. As of February 17, 2021, BTC was trading at over $51,000. MicroStrategy’s BTC holdings are now worth nearly $5 billion, which means that the company’s BTC investment has almost reached the billion-dollar mark.
BTC’s Price Surge:
BTC’s price surge has been the main driver behind MicroStrategy’s impressive gains. BTC’s price has been on an upward trend since the latter half of 2020, and the cryptocurrency has been shattering records left and right. BTC’s market cap recently surpassed $1 trillion, and many analysts believe that the cryptocurrency still has plenty of room to grow.
MicroStrategy’s Future Plans:
MicroStrategy has made it clear that it has no plans to sell its BTC holdings anytime soon. In fact, the company recently raised $900 million through a convertible senior notes offering, and it plans to use the funds to purchase even more BTC. MicroStrategy CEO Michael Saylor has been a vocal advocate for BTC, and he believes that the cryptocurrency has the potential to become the world’s reserve asset.
Conclusion:
MicroStrategy’s Bitcoin investment has been a huge success, and the company has made it clear that it sees BTC as a legitimate store of value. The price of BTC has been on a steady upward trend, and MicroStrategy’s BTC holdings are now worth nearly $5 billion. The company has no plans to sell its BTC anytime soon and plans to purchase even more BTC in the future.
