After $250 Million Bitcoin Buy, MicroStrategy Eyes More

After $250 Million Bitcoin Buy, MicroStrategy Eyes More

Gate Trade News Tuesday, September 15, 2020 50 0

Billion-dollar business intelligence software firm MicroStrategy made waves last month when it announced to shareholders that it might invest up to $250 million in Bitcoin over the following 12 months… and then just days later, went ahead and did it.

 

MicroStrategy’s purchase of 21,454 BTC ($229 million as of this writing) was a signal to other public companies that Bitcoin could be used as a serious reserve asset. And now, the company suggests that it may increase its Bitcoin holdings in the future.

 

In a filing with the US Securities and Exchange Commission on Friday, the company noted that its board of directors has updated the company’s treasury reserve policy. 

 

The new policy notes that aside from cash, cash equivalents, and short-term investments, Bitcoin will now serve as the company’s primary reserve asset.