- MicroStrategy bought 3,000 Bitcoins, increasing its total holdings to 193,000 BTC.
- Michael Saylor viewed Bitcoin as a superior investment compared to traditional stocks.
In a recent strategic move, Michael Saylor’s MicroStrategy has significantly increased its investment in Bitcoin [BTC], purchasing an additional 3,000 BTC for approximately $155.4 million.
This latest acquisition boosted MicroStrategy’s total Bitcoin holdings to an impressive 193,000 BTC, valued at around $10.28 billion at press time.
Saylor prefers BTC over the stock market
This bold investment strategy by MicroStrategy is not just a testament to the firm’s bullish outlook on Bitcoin, but also reflects a broader acceptance of cryptocurrencies as viable investment assets.
In a recent interview, Saylor talked about his diminishing optimism when it comes to the “magnificent seven” stocks. He mentioned,
“Most of these companies (the magnificent seven) don’t have property, so they’re valued on cash flows. That means, as a store value in this decade, that’s increasingly risky.”
Saylor viewed the lack of cash flows in Bitcoin as a feature rather than a drawback.
He argued that this characteristic exempted Bitcoin from needing to meet any cash flow expectations, setting it apart from traditional investment assets.
An inch closer to 1% BTC accumulation
The aftermath of this purchase was positively reflected in MicroStrategy’s stock prices, which saw an impressive surge of 12%, indicating strong market approval of the company’s investment direction.
This uptick in stock value underscored the potential synergistic effect between corporate cryptocurrency investments and shareholder value.
As MicroStrategy’s Bitcoin holdings grow, the company is i
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Author: Prakriti Chanda
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