MicroStrategy's investment in bitcoin has reached a significant milestone, with the company's holdings now valued at over $10 billion as BTC rises above $52,000. This achievement underscores MicroStrategy's steadfast commitment to bitcoin as a long-term store of value and a hedge against inflation.
JUST IN: MicroStrategy's #Bitcoin holdings are now worth over $10 BILLION ???? pic.twitter.com/JhbGYtAmAI
— Bitcoin Magazine (@BitcoinMagazine) February 15, 2024
Since its initial foray into Bitcoin in August 2020, MicroStrategy has consistently increased its holdings, viewing bitcoin as a key component of its treasury strategy. The company's executive chairman, Michael Saylor, has been a very big vocal advocate for Bitcoin, citing its potential to preserve purchasing power over time.
The company's continued accumulation of Bitcoin highlights its confidence in Bitcoin's ability to deliver superior returns compared to traditional investment assets. Last week, the business intelligence company considered itself "the world's first #Bitcoin development company."
NEW: MicroStrategy now considers itself "the world's first #Bitcoin development company" ???? pic.twitter.com/frEC4q9zHy
— Bitcoin Magazine (@BitcoinMagazine) February 7, 2024
As Bitcoin continues to gain mainstream acceptance and recognition as a legitimate asset class, MicroStrategy's sizable investment positions the company as a prominent player in the industry. With Bitcoin's price coming close to previous all-time highs of $69,000, MicroStrategy's decision to allocate a significant portion of its treasury reserves to BTC has paid off handsomely.
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