Microstrategy Wants to Invest More in Bitcoin

Microstrategy Wants to Invest More in Bitcoin

By Abhimanyu Krishnan | News | 28 Oct 2020


In an earnings call held on October 27, Microstrategy President Phong Le made clear that the company was looking to pour more funds to its Bitcoin (BTC) investments.

  • Le noted both the financial and reputational benefit associated with the $426 million worth of cash put into Bitcoin
  • Microstrategy has made roughly a 23% return on its Bitcoin investments, and its holdings are currently worth $521 million
  • Le noted the increased visibility among the broader market, stating “We’ve seen a notable and unexpected benefit...in elevating the profile of the company...This is benefiting our reputation overall, raising our mindshare among prospective customers”
  • Microstrategy’s shares have also increased by 40% since the initial Bitcoin investment in early August 2020
  • CEO Michael Saylor has expressed positive sentiment on Bitcoin, after once having been a detractor of the asset

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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