The enterprise software maker, whose corporate strategy includes buying the cryptocurrency, bought the tokens between November 11 and 17
MicroStrategy Inc. bought about 51,780 Bitcoins for about $4.6 billion, making it the largest purchase since it began acquiring the digital cryptocurrency four years ago.
The enterprise software maker, whose corporate strategy includes buying the cryptocurrency, bought the tokens between November 11 and 17, according to a US Securities and Exchange Commission report on Monday. He now holds more than $29 billion in Bitcoin.
MicroStrategy co-founder and president Michael Saylor decided to invest in Bitcoin in 2020 as a hedge against inflation. The company initially used cash to make the purchases and later turned to selling equity and convertible debt to bolster its buying power.
Saylor has expanded on his strategy this year, saying the company aims to raise $42 billion over the next three years.
Source: Skai
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