MicroStrategy has no Intentions of Slowing Down in Purchasing Bitcoin (BTC)
In the mid of the year 2020, MicroStrategy started appearing in the cryptocurrency headlines. The reason why it started making such appearances was the company’s interest in investing in cryptocurrencies.
The CEO of MicroStrategy, Michael J. Saylor was one of the institutional personalities who always opposed the idea of cryptocurrencies. As per him, he believed that for investing in an asset, it needs to have a physical existence, which cryptocurrencies did not have.
For him, cryptocurrencies were nothing more than risk, and Bitcoin (BTC) was on top of that list. However, towards the end of 2019, Michael J. Saylor started growing lenient towards the cryptocurrency industry.
Saylor reportedly started talking positively about the nature of Bitcoin (BTC) and how it could prove to be the future of advanced financing. Today, thousands of mainstream institutions are seen investing in Bitcoin (BTC) and other cryptocurrencies.
The institutional interest in Bitcoin (BTC) increased from mid-October when PayPal announced the adoption of Bitcoin (BTC) on its platform. However, MicroStrategy was also making investments in Bitcoin (BTC).
The first investment MicroStrategy had made was back in August followed by another in September of 2020. By the end of the third quarter of 2020, MicroStrategy had acquired $434 million worth of Bitcoin (BTC).
Surprisingly, the $434 million was not the only or the largest investment made by MicroStrategy. By the end of 2020, MicroStrategy had invested a total of $1.125 billion in Bitcoin (BTC), amassing a huge number of Bitcoin (BTC).
Even in the year 2021, MicroStrategy has continued purchasing Bitcoin (BTC). The business intelligence giant does not appear to be affected or impacted by the bearish run of the overall or Bitcoin market at all. The firm is constantly making investments in Bitcoin (BTC) and is always seen buying the dip.
Due to MicroStrategy’s non-stop Bitcoin (BTC) purchases, many have started asking the company if it has set a target. Different analysts and reporting firms want to know exactly how many Bitcoins (BTC) MicroStrategy is aiming to accumulate.
However, the business intelligence has recently revealed that it has no intentions of stopping and it does not even have a target set for Bitcoin (BTC). The firm has no cap or limit over the Bitcoin (BTC) they are aiming to purchase.
The firm again made it to the headlines when it announced that it was planning to sell $1 billion worth of its shares. The firm revealed that the proceeds from the sales would go towards acquiring even more Bitcoin (BTC).
MicroStrategy has revealed that they may go ahead and sell more shares in the future that would be worth an average of $1 billion.