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MicroStrategy Now Owns Half a Billion Worth of Bitcoin
CRYPTONAIRE LYWEEK CRYPTO investment journal
Business intelligence firm MicroStrategy now owns over half a billion dollars worth of Bitcoin, having seen a surge in the price of Bitcoin over the last few months.
After investing a total of $425 million in Bitcoin in August and September, the company’s Bitcoin holdings are now worth $517 million—up 21%.
MicroStrategy’s CEO, Michael Saylor, is incredibly bullish on Bitcoin these days, describing the famed cryptocurrency as “digital gold.”
Saylor’s outlook, however, has not always been so optimistic.
How did MicroStrategy arrive at Bitcoin?
In 2013, Saylor tweeted that Bitcoin’s days were numbered, and that “it seems like just a matter of time before it suffers the same fate as online gambling.”
Fast forward to 2020, and firm’s Bitcoin journey began with a $183 million investment in the cryptocurrency on August 11. Just over one month later, MicroStrategy announced an additional investment of $183 million in Bitcoin, bringing the company’s grand Bitcoin total to 38,250 at an aggregate purchase price of $425 million.
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