The prominent software company for business intelligence, MicroStrategy, states that it will more than likely increase its already impressive $250 million worth of Bitcoin (BTC) investment within the next year.
MicroStrategy spent hundreds of millions of dollars to rack up a total of 21,454 BTCs this last August – transforming most of its current cash reserves into the digital currency. This development has also successfully placed it in the list of most notable BTC investors according to Wall Street.
Doubling down with its commitment to the crypto, the company’s executives filed a brand new treasury reserve procedure to the United States Securities and Exchange Commission (SEC) that states that Bitcoin will now be the principal reserve asset for the company moving forward. According to MicroStrategy, this new policy puts BTC at the same level of importance to short-term investments and cash equivalents.
This seemingly newfound faith towards the leading cryptocurrency is a far cry to the opinion of its CEO, Michael Saylor, back in 2013 – wherein he predicted that Bitcoin is at its end and shall inevitably die. Now, Saylor and his company are all-in with the crypto and have practically announced its plans to further expand its BTC holdings for the foreseeable future.