MicroStrategy, which last month announced that it would invest $250 million of its reserves in bitcoin, couldBuildinvestments in cryptocurrency.
On September 11, a meeting of the Board of Directors of MicroStrategy was held, following which new policies for managing the company's reserves were presented today:
“In accordance with the new policies, reserveassets will include (1) the traditional currency, its equivalents and short-term investments in which the company's surplus working capital will be allocated; (2) bitcoin at the disposal of the company will act as a primary reserve asset on an ongoing basis depending on market conditions and the expected needs of the business for cash assets, including future potential share repurchase activities, - the document says.
As a consequence of the new policies, the company's Bitcoin reserves could be expanded beyond the $ 250 million investment it announced on August 11, 2020. ”
Earlier, MicroStrategy officials said they are looking at Bitcoin (BTC) and other alternative investments as a way to curb inflation.
</p>“It makes sense to move our reserve assets into investments that cannot be depreciated due to inflation or will be less likely to be affected by this process”, - they reported.
“Investing in bitcoin reflects our belief inthat bitcoin, being the most widely used cryptocurrency in the world, is a reliable store of value and an attractive investment asset with a higher potential for long-term growth than when storing traditional currency "- said Michael Saylor, CEO of MicroStrategy.
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