Major Software Company Buys More Bitcoin: Holds Over 152,000 BTC
MicroStrategy buys more bitcoins, protects itself against dollar value drop, and encourages wider use
MicroStrategy, a big software company, has bought more bitcoins. The company bought 12,333 bitcoins for about $350 million. The company's founder, Michael Saylor, said they bought each bitcoin for an average price of $28,000.
In total, MicroStrategy now owns 152,333 bitcoins. These bitcoins are worth about $4.52 billion. The company bought these bitcoins for an average price of $29,668 each. The value of these bitcoins has increased a little.
MicroStrategy has the most bitcoins of any company. It started buying them in 2020. Saylor said they did this to protect the company from the US dollar losing value.
Saylor believes more investors will start buying bitcoins. He says this could lead to more businesses using bitcoins. This would make bitcoins even more popular. He added that it's important for businesses to have bitcoins.
Saylor stressed that MicroStrategy will continue to focus on its main business: creating enterprise software. He also said the company's money is not in dollars anymore, it's in bitcoins. He thinks bitcoins are the best kind of cash reserve for a company.
