Cryptocurrency

Bitcoin Just Got USD 250m Endorsement From Major US Company

Bitcoin Just Got USD 250m Endorsement From Major US Company 101

US-based major business intelligence company MicroStrategy said it has purchased BTC 21,454 at an aggregate price of USD 250m, inclusive of fees and expenses.

“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” Michael J. Saylor, CEO of MicroStrategy, was quoted as saying in the announcement.

According to him, this investment reflects their belief that BTC is a "dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash."



At pixel time (14:31 UTC), BTC trades at USD 11,602 and is down by 3% in a day, trimming its weekly gains to 4%. The price is also up by 25% in a month and 2% in a year.
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