MicroStrategy, a company that provides software-based solutions and cloud services for business analytics, has recently bought $1 Billion worth of more Bitcoin, increasing its overall Bitcoin inventory, holding more than 90,000 Bitcoin in the bag. The company officially announced the purchase of around 19,000 Bitcoin at an average of around $52,000 per Bitcoin, now holding an impressive 90,531 Bitcoin worth more than $2 Billion in their reserve treasury as of 24th February 2021.
This is a huge transaction and a plus point when it comes to the rise in popularity of cryptocurrency, boosting the overall value and image of crypto even further. Even after having questionable stability, people are still interested in investing in the crypto market. The recent hit to the market was quite devastating, but most of the crypto has successfully recovered and are sailing back towards the higher value positions in the market to gain more users and customers.
History Of MicroStrategy
MicroStrategy recently released a business intelligence software that provides an improvement to the Hyperintelligence capabilities of a vendor providing embedded analytic stats using augmented intelligence and machine learning algorithms. It has also taken part in integrating analytical features into apps for famous Mobile platforms such as Android, IOS.
Another one of its famous products is Usher, which is a digital credential verifying and identity intelligence software solution designed to provide companies and organizations with a secure way to control the digital and physical access of Databases. It uses 3-factor authentication, time-limited access codes and bidirectional public key infrastructure encryption method for high-level data security.
The Future Of MicroStrategy With Bitcoin
CEO of MicroStrategy Michael Saylor stated that not only will the company continue to provide great software solutions for business analytics but will also be holding and maintaining an inventory of Bitcoin. These two strategies are key to maintaining sustainable growth for the company, said Saylor.
The investment in crypto by the company is clearly an example of how many other companies have noticed the importance of cryptocurrency and have also started to consider the use of crypto as a payment method or even a valuable asset to store and gain profit.