MicroStrategy Plans to Raise $42 Billion for Bitcoin
MicroStrategy, a company that specializes in business intelligence services, plans to raise $42 billion over the next three years for its Bitcoin investments. With this plan, MicroStrategy makes its intentions about Bitcoin extremely clear. This future oriented aggressive strategy is in synchrony with Microstrategy’s long-term faith in digital currencies, as well as Bitcoin’s growing acceptance by institutional investors as a stronghold.
Background on MicroStrategy and Bitcoin
Microstrategy and Bitcoin Background Since its entry in the cryptocurrency market in August 2020, microstrategy has strategically positioned itself to be known for Bitcoin investments. Even in an inhospitable environment, the firm has stood by its word and remained bullish on Bitcoin. To value their assets correctly, MicroStrategy has so far bought over 150,000 bitcoins at the price of $29,000 on average. MicroStrategy has emerged to be one of bitcoin’s biggest institutional holders in the world due to the size of its portfolio.