MicroStrategy Increases Bitcoin Holdings With $5.3 Million Purchase

2/11/2023

MicroStrategy, a leading business intelligence firm known for its significant investments in Bitcoin, has added 155 bitcoins to its portfolio, valued at $5.3 million. The company's chairman, Michael Saylor, highlighted Bitcoin's recent price surge, reaching yearly highs. Since its initial investment of $250 million in Bitcoin in August 2020, MicroStrategy has consistently added to its holdings, accumulating over 158,400 bitcoins. This move reflects the company's confidence in Bitcoin's long-term value and its commitment to its cryptocurrency treasury strategy.

MicroStrategy's aggressive approach to cryptocurrency investments coincides with key developments in the crypto market, including the upcoming fourth Bitcoin halving and the anticipation of the SEC's decision on the first spot Bitcoin ETF. The company's actions indicate a broader trend of increased institutional involvement in the crypto space and reinforce the notion that digital assets are becoming a significant part of corporate asset management.

Resource: https://coingape.com/microstrategy-boosts-bitcoin-portfolio-with-5-3m-purchase/?utm_source=24hrsupdateall