MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin.
(Check original announcement: Twitter)
MicroStrategy: A Pioneer in Corporate Bitcoin Investment
MicroStrategy, under the leadership of its CEO Michael Saylor, has been a pioneer among publicly traded companies in investing heavily in Bitcoin. This strategy has positioned the company as one of the largest corporate holders of Bitcoin in the world. The firm, initially known for its business analytics, mobile software, and cloud-based services, has shifted a significant part of its focus to cryptocurrency investment, particularly Bitcoin.
The Strategy Behind the Investment
MicroStrategy's approach to Bitcoin is unique. The company views Bitcoin as a dependable store of value and an investment asset with more long-term appreciation potential than holding cash. In a volatile economic environment, MicroStrategy considers Bitcoin as a hedge against inflation and a means to diversify its portfolio.