Explaining that they bought $ 250 million of Bitcoin against inflation in the first half of August, MicroStrategy announced that it wants to increase its digital asset investments.
Commercial information gathering company MicroStrategy, which announced its “Bitcoin investment against inflation” plan at the end of July, announced that it has purchased approximately 21,500 Bitcoins. CEO Michael J. Saylor stated that Bitcoin is an independent store of value, and with this investment, the billion-dollar company MicroStrategy became the first company to invest in Bitcoin in corporate terms. After these developments, another Bitcoin move came from the company.
Bitcoin Has Been Designated as the Main Asset for the Company’s Treasury Reserve
MicroStrategy decided to designate Bitcoin as its primary reserve asset at its board meeting held on September 11. The company gave a statement yesterday to the US Securities and Exchange Commission (SEC), signaling that it may buy more Bitcoin in the near future. While the statement did not necessarily point to a Bitcoin investment, it was interpreted as an indication that the company has not lost faith in Bitcoin despite the decline.
Many Institutions Turn to Bitcoin After MicroStrategy
The US-based MicroStrategy, one of the companies listed on the NASDAQ-100, trusts Bitcoin against inflation and has taken action and invested a sum that can be considered as high as 250 million to mobilize other companies. Following MicroStrategy, Canadian-based software company Snappa announced that 40% of the company’s cash reserves were reserved for BTC investment.
According to experts, more companies that want to escape both inflation and the depreciation of the dollar may prefer Bitcoin in the coming days and the transition of the institutional investor to the cryptocurrency world may accelerate.