MicroStrategy is a leading business intelligence and software company that analyzes the data of other companies to help them make smart and good decisions for their business.
This company once again took the cryptocurrency market by surprise and added the recent 850 Bitcoin to its portfolio, and the total value of this Bitcoin purchase is $37.2 million. He had also purchased a lot of Bitcoin some time ago.
In fact, by the end of 2023, MicroStrategy has purchased a total of 31,755 bitcoins. And it cost him a whopping $1.25 billion to buy Bitcoin.
MicroStrategy’s money expert Andrew Kang says this is the biggest increase in his Bitcoin reserves in three years. And this company is purchasing Bitcoin every quarter.
MicroStrategy’s journey into Bitcoin buying in the cryptocurrency market started in August 2020 when they first invested $250 million in it, and since then, they have been continuously increasing their Bitcoin collection. Now, he has 190,000 Bitcoins. If we talk about its current prices, it is worth more than $8.2 billion!…
But why is MicroStrategy company so interested in Bitcoin?
So, according to MicroStrategy’s big boss Phong Le, 2023 was a good year for them. They also developed some cool new software called MicroStrategy AI, which helps businesses use artificial intelligence to make better decisions. And he has also made a lot of money partly by investing in Bitcoin.
MicroStrategy is still engaged in its Bitcoin purchases. As we approach the fourth Bitcoin halving, they are still buying Bitcoin. MicroStrategy believes in the future of Bitcoin and is investing big money on it.
So what all this means is that MicroStrategy believes that Bitcoin is a good investment, with great potential for its value to increase in the future. And that’s why they have invested a lot of money in it.
They are not alone either. A lot of other companies are also starting to see the value in Bitcoin, and who knows? Maybe one day, we’ll all use it to buy and sell things.
Note – In this article we talked about “MicroStrategy’s Big Buy: 850 Bitcoins! Bitcoin Ready to Explode in 2024?” but! No one knows when the cryptocurrency market will go up and when it will go down. The information is for your attention only. Therefore, do your research before investing anywhere, we do not advise you to invest anywhere.
Hi there! I’m Simon Brown, a passionate writer delving into the exciting realm of cryptocurrency. From dissecting crypto news to making bold predictions, I cover it all. Join me on this thrilling journey through blockchain, NFTs, and beyond!