Bit News Live

MicroStrategy Board makes Bitcoin its primary reserve currency, may increase its holdings beyond $250M

MicroStrategy’s board of directors elected to .

In the press release that accompanied the company’s original acquisition of Bitcoin, its CEO Michael J. Saylor was quoted saying:

“This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

The move has already caused a slew of copycats — smaller companies of every shape making similar announcements. It should be noted that MicroStrategy sold a domain to Block.One in 2019 for $30 million; perhaps, this gave the company’s leadership an appreciation of the value of cryptocurrency. Some of the world’s biggest institutional investors have a stake in the company. This may demonstrate how much more acceptable Bitcoin has become on Wall Street in the past few years.

Since making its original Bitcoin acquisition a month ago, MicroStrategy has outperformed the Nasdaq composite index.


Live Price

powered by Coinlib

Crypto Converter

powered by Coinlib

Your Header Sidebar area is currently empty. Hurry up and add some widgets.

%d bloggers like this: