Microstrategy, the world leader in analytics and mobility software, has now acquired a cryptocurrency asset by taking advantage of BTCs staging a 10% fall-off, making it worth approximately $4.5billion. According to the filing made by Security and Exchange Commission SEC, the firm added 328 more bitcoins over the weekend at an average price of $45,710. This is the fourth time the firm is making an investment in Bitcoin. In less than a year, the software firm has turned itself into a de-facto Bitcoin ETF.
In the latest, Microstrategy has purchased 328 Bitcoins, investing the worth of $15 million, past weekend. This is not the first time, MicroStrategy is investing this much into the crypto-space. CEO Michael Saylor’s business firm has bought 19,452 BTC, turning it into the single largest Bitcoin investment ever performed by a publicly-traded company.
The largest buy is second only to Tesla’s $1.5 billion investment. MicroStrategy is already and most likely to remain the non-crypto firm with the biggest crypto bags. The total stake of MicroStrategy in Bitcoin is now $4.5billion owning 90,859 BTC overall at the average price of $24,063.
It is not the first time the firm is making such investments. The firm has started making investments in BTC a year back. Here is the timeline of investment made by MicroStrategy from the time they started.
“Bitcoin is going to flip gold,” said Michael Saylor adding that it will “subsume the entire gold market cap. Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”