Business, Technology

September 21, 2020

US consulting firm buys over $400 million of Bitcoin

Source: Flickr (Microstrategy) 

The Gist

Microstrategy purchased over 425 million USD worth of Bitcoin in August and September.

The List

  • Microstrategy initially invested over 250 million USD in Bitcoin in August. 
  • In a recent podcast, CEO Michael Seynor revealed the company had invested an additional 175 million USD and intends to continue. 
  • Seynor, previously of critical of Bitcoin, now believes Bitcoin is "1000x better than gold" as a store of value. 
  • The company has stated that it will be using Bitcoin as its primary reserve asset in lieu of fiat currency (USD). 

Additional information

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