The largest public analytical company MicroStrategy Incorporated announced the purchase of a total of 21,454 bitcoinsworth $250 million. The company announced this in its press release.
The company said the acquisition of the cryptocurrency is part of a new capital redistribution strategy.
Long term investment
Co-founder and head of MicroStrategy Michael J. Sailor noted that the purchase of so many bitcoins is related to the company's plans "to maximize long-term profitability for shareholders."
“This investment reflects our belief thatBitcoin, as the world's most widely accepted cryptocurrency, is a reliable store of value and an attractive investment asset with longer-term growth potential than holding cash."Sailor added.
Thus, MicroStrategy became the first publicly traded company to invest in Bitcoin (BTC) as a value-saving asset.
Founded in 1989, MicroStrategy is dedicated todevelopment of analytical software for the corporate and mobile sector. In 2019, the number of assets managed by MicroStrategy reached $ 917 million.
Market capitalization of the leading cryptocurrencyhas reached a size comparable to well-known technology corporations. Amid capital inflow activity, Bitcoin's market capitalization has reached levels comparable to such giants as Netflix and AT&T, which occupy leading positions in their industries.
At the time of this writing, the price of BTC / USDT is $ 11,318.
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