Microstrategy CEO Michael Saylor on Dec. 5 tweeted that the company had invested another $50 million in bitcoin, bringing its total BTC holdings to. $784 million.
- Saylor said that Microstrategy had purchased another 2,574 BTC worth $50 million, bringing its total holdings to 40,824 BTC
- In an earnings call held in Oct. 2020, Microstrategy President Phong Le also hinted that the company would be investing more, noting that the company’s profile had been raised as a result of its entry into the market
- Microstrategy's decision to invest in bitcoin is a result of concerns surrounding the dollar and inflation, and other companies have followed suit for the same reason
- Saylor was once a critic of bitcoin; however, like many others, he has changed his view on the asset in 2020, also holding $240 million in bitcoin in his personal portfolio
- Microstrategy initially invested $250 million in Jul. 2020, and has made a considerable profit from the recent rally