Bitcoin-accumulating software company MicroStrategy will continue investing in the cryptocurrency despite the recent slide in the asset’s value, the company’s chief financial officer said.
The business intelligence company’s strategy is to “buy and hold,” Phong Le said, according to a report in the Wall Street Journal on Tuesday.CEO Michael Saylor has made bitcoin acquisition a key goal for the company. As of the end of 2021, MicroStrategy held around 124,391 bitcoin, which it had purchased at an average price of $30,159.The crypto market has lost $1.3 trillion in value in the last two months, with bitcoin sinking as low as $33,000 on Monday.”Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin,” Phong Le said.
Read more: SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings
UPDATE (Jan. 25, 11:54 UTC): Changes photograph.
Read MoreFeedzy
Bitcoin-accumulating software company MicroStrategy will continue investing in the cryptocurrency despite the recent slide in the asset’s value, the company’s chief financial officer said.
The business intelligence company’s strategy is to “buy and hold,” Phong Le said, according to a report in the Wall Street Journal on Tuesday.CEO Michael Saylor has made bitcoin acquisition a key goal for the company. As of the end of 2021, MicroStrategy held around 124,391 bitcoin, which it had purchased at an average price of $30,159.The crypto market has lost $1.3 trillion in value in the last two months, with bitcoin sinking as low as $33,000 on Monday.”Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin,” Phong Le said.
Read more: SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings
UPDATE (Jan. 25, 11:54 UTC): Changes photograph.
The firm has not announced any new bitcoin purchases since May, when it bought 4,710…
Bitcoin climbed to a three-week high on Tuesday before slipping back, a move that has…
The Elon Musk–run company is moving ahead with plans for an initial public offering that…
When Strategy disclosed its acquisition of more than 10,000 Bitcoin worth $1 billion, market watchers…
Bitcoin Magazine American Bitcoin Adds 416 BTC, Holdings Near 4,800; ProCap Hits 5,000 Bitcoin Club…
The shares of both bitcoin-related firms are posting modest early gains Wednesday, but remain sharply…