As revealed in a tweet posted on September 14, business intelligence company Microstrategy has bought an additional 16,796 Bitcoin (BTC), as CEO Michael Saylor changed his views on the asset.

• The company acquired an additional 16,796 BTC for $175 million to boost its holdings
• MicroStrategy purchased $250 million worth of Bitcoin on August 11; its total BTC holdings are now 38,250 BTC
• Saylor believes that excess cash is no longer safe as it is and that only cryptocurrencies and stock buybacks serve as a good hedge
• The CEO, who heavily criticized Bitcoin in 2013, admits that doing research on Bitcoin and cryptocurrencies has changed how he sees the asset
• Saylor now firmly believes that Bitcoin is digital gold; he is not the only individual to rethink his views on cryptocurrencies - CNBC’s Jim Cramer now also views Bitcoin as better than gold