October 20, 2020

Analytical giant invested $ 250 million in bitcoin

Analytical giant invested $ 250 million in bitcoin

The largest public analytical company MicroStrategy Incorporated announced the purchase of 21,454 bitcoins in total worth $ 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 used cryptocurrency, is a reliable store of value and an attractive investment asset with longer-term growth potential than keeping 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 a leading cryptocurrencyhas reached a size comparable to well-known tech corporations. Amid strong capital inflows, bitcoin's market capitalization has reached levels comparable to giants such as Netflix and AT&T, which are leading in their respective industries.

At the time of this writing, the price of BTC / USDT is $ 11,318.

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Analytical giant invested $ 250 million in bitcoin

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