MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC

CEO Michael Saylor stated the company did not intend to slow the rate of its Bitcoin acquisitions later buying an additional $1 billion worth of BTC.
Business intelligence company MicroStrategy raised its Bitcoin (BTC) holdings by 27% on Feb. 24, after purchasing an additional 19,452 coins, carrying its total BTC haul to 90,531 Bitcoin.Announced to the corporation’s website on Wednesday, the coins have been allegedly purchased for roughly $52,765 percent, equating to an outlay of just over $1 billion. MicroStrategy Incorporated CEO Michael Saylor stated the company’s focus was now two-fold: grow its analytics software business, and purchase more Bitcoin.¬† Saylor stated,”The Company remains focused on both corporate plans of developing our business analytics software company and obtaining and holding bitcoin. “During the six months since MicroStrategy announced its initial $250 million investment in Bitcoin, the company has gone on to invest in excess of $4 billion over the electronic asset. Saylor stated there was no plan to quit buying BTC any time soon. “The firm now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, since the planet’s most widely-adopted cryptocurrency, can serve as a trusted store of value. We’ll continue to pursue our strategy of getting bitcoin with excess money and we may from time to time, subject to market conditions, issue equity or debt securities in capital raising transactions with the aim of working with the profits to buy additional bitcoin. “The value of MicroStrategy’s purchase exceeded the amounts previously floated by the company, which announced it would increase $900 million to purchase more Bitcoin on Feb. 17. Phong Le, president and chief financial officer at MicroStrategy, said the Bitcoin purchases will help enhance awareness of its brand as a software business, while also acting as a indication of faith in the Bitcoin network. “We believe our bitcoin approach, such as our bitcoin holdings and relevant actions in support of the bitcoin community, is crucial to our software firm, by improving awareness of our clients and providing chances to secure new clients,” he said.

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