"It's not ordinary, this firm has a crazy amount of BTC."
MicroStrategy, the US-based business intelligence firm founded by Michael Saylor has bought another 155 Bitcoins (BTC) worth $5.3 million as a strategic addition to its cryptocurrency portfolio.
Following the BTC price which has recently seen a significant climb up to $35,000, MicroStrategy, a long-time participant in the crypto market, has managed to profit handsomely due to its large investment in the digital asset.
Since its initial investment of $250 million in August 2020, the BTC assets acquired by MicroStrategy have shown impressive growth.
According to Chief Financial Officer (CFO) Andrew Kang, MicroStrategy has added 6,067 BTC since the second quarter and now the firm owns more than 158,400 of the digital asset, so here it can be seen that it is still buying BTC despite the volatility of the crypto market.
MicroStrategy continuing to demonstrate its confidence in BTC as a long-term store of value could further encourage industry involvement in the crypto market.
Please note that the highly anticipated fourth BTC halving has the potential to push the price of BTC higher plus there is speculation that a spot BTC ETF will be approved soon.
Not only that, MicroStrategy which has bought a large amount of BTC can show the public that the role of digital assets is very important for corporate asset management to get various benefits.
