Microstrategy Takes a Plunge in Bitcoin Investing 10M USD


With the sudden rise of Bitcoin in the past year, everyone seems to be interested in this domain. Thus we have seen auto giants like Tesla and other groups come forward to take a plunge in digital currency which later seemed to have procured huge bitcoin for obvious reasons. Now, we see more and more groups getting attracted towards it. The recent one is the business intelligence company called Microstrategy. It has remained a publicly listed company, which seemed to have come up with this announcement about their recent purchase of bitcoin in the digital currency world. As per reports, the company was quick to procure 229 bitcoins, thus adding up good digital assets in their company account when it comes to cryptocurrency; it was the company CEO called Micheal S who came up with a tweet announcing the same. 

In his tweet over the Microblogging site, he said he has come up with an investment of 10M USD, and it has given him the chance of 92.079 of bitcoins at the moment, which is huge. If you look at the tweet from the company CEO, it came short and sweet wherein he simply indicated saying that his company has procured bitcoins worth 10 M USD, and it can be now reflected in their balance sheet. The company has been active on Nasdaq, and now it is the first time when they have taken a plunge in digital currency once again and this time big. It was on Tuesday when the company CEO was seen sharing this news on the microblogging site, which is the usual place to announce his company’s move in the recent past. Besides this statement, we have seen sharing about forming 8-K filling that seemed to have registered within the United States-based security agencies and the ones dealing with the exchange money. You can also take the reference from the Bitcoin Union to clarify your doubt as per your requirements.

While talking about the same, he said the company has now come up with an additional amount of Bitcoin that has come up with a huge cost of 10 M USD, and they have procured the same at the average cost of around 43.66 per Bitcoin. The company further declared that they have a total asset of 92.07 B of the bitcoin that has come to them at an average cost of 24.4 per bitcoin. In this way, if you look at the higher current cost of Bitcoin, the company seems to be a winner if they think of a sale of the same at this moment as well; they end up earning huge with it. The company CEO came up with an investment saying that they have procured around 15 M USD that has come at a huge cost of BTC this May. With the cost going up at around 10M USD for Bitcoin, the company CEO seems to be a happy man. 

One can feel the excitement in his tweet about the bitcoin investment and the total number of bitcoin with them. Looking at the company’s share at Nasdaq and another place, MS has been experiencing a loss in their market share as it has gone down by 60 per cent since the last two months before. We have also seen the company accumulating loads of BTC that are seen starting up to add the digital currency when it comes to adding up the assets to their balance sheet last year in the month of August. That very month, the company executive was seen saying that bitcoin would act as a superior entity when compared to the fiat currencies, and it will be stored with a higher value for a longer run. 

Since then, the company CEO has been a fan of Bitcoin, and they were quick to invest, getting a good number of BTC in the earlier times. Ever since we have seen the company coming up with a buying spree, the CEO has gone up on the higher position as far as supporting Bitcoin and digital currencies in general. The company, which seems to have been listing high at the Nasdaq liest has come up with some good days ahead, and they have come up with a drop as well in their shares in the recent time, but investing in bitcoin at the same time has helped them save from the loss. 

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