Hot Development: MicroStrategy bought Bitcoin worth $1 billion!

MicroStrategy has purchased an additional 19,452 bitcoins, according to a press release on Feb. 24. Company CEO Michael Saylor says Bitcoin remains its corporate strategy:

“The Company is focused on both of our corporate strategies for growing our enterprise analytics software business and for adopting and sustaining Bitcoin.”

MicroStrategy is expected to continue with its Bitcoin strategy.

“The company currently holds more than 90,000 bitcoins. It reinforces our belief that Bitcoin, the world’s most widely used cryptocurrency, can serve as a solid store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and, depending on market conditions, may from time to time sell convertible bonds as part of fundraising processes to use the proceeds to purchase additional bitcoin.”

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