If you never heard of MicroStrategy, is a company that provides business intelligence (BI), mobile software, and cloud-based services, currently valued at over $1.2 billion. They previously announced that
...we will seek to invest up to another $250 million over the next 12 months in one or more alternative investments or assets which may include stocks, bonds, commodities such as gold, digital assets such as Bitcoin, or other asset types.
More details in my previous article here on Publish0x.
Anyway, they just announced they had purchased 21,454 Bitcoins to hedge against COVID related inflation.
This is quite a big deal because MicroStrategy has been around for more than 30 years and they are in the business of analysing data to make informed business decisions, so they wouldn't make such grand statements/business decisions just on a whim. Also, other companies usually follow them and copy their decisions.
“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “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. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”
The whole story at Business Wire
Not sure how are you feeling about the coming bull run but I can already hear the bulls roaring. HODL my crypto friends, this ride will be awesome!
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