Bitcoin, CEO of MicroStrategy, a business intelligence company traded on Nasdaq, has announced that they will allocate $ 250 million to gold and other alternative assets.
MicroStrategy, the business intelligence company listed on Nasdaq, has reported that it will invest $ 250 million in Bitcoin, gold and other alternative assets over the next 12 months as a hedge against the US Dollar.
The dollar is no longer secure!
According to CoinDesk, CEO Michael Saylor, who made a statement during the conference where the quarterly results were announced recently, said that the weakening dollar is no longer a reasonable place to hold MicroStrategy’s large cash reserves. The company’s cash reserves are stated to be 500 million dollars.
Saylor said that the specter of near-zero interest rates, infinite helicopter money, and impending inflation is slowly destroying the dollar. “It is no longer prudent to keep holding large amounts of dollars.” said.
The CEO stated that Bitcoin, gold and silver are gaining strength, and the supply of Bitcoin, which is limited to 21 million, makes the crypto money attractive as a means of protection against inflation.
They sold a domain name to EOS’s company for $ 30 million
Meanwhile, Saylor sold his company’s domain name, Voice.com, to EOS’s developer company Block.one in July 2019 for $ 30 million. The CEO said that the Bitcoin enlightenment came after this sale.
MicroStrategy is a company with an annual revenue of approximately $ 500 million and 2,400 employees, according to 2019 data.