'Big orange': Michael Saylor's Strategy buys another 13,627 bitcoin for $1.25 billion following MSCI indexing decision - The Block
Michael Saylor, the co-founder and Executive Chairman of MicroStrategy, has made headlines once again with a significant investment in Bitcoin. Following a decision by MSCI to include Bitcoin in its indexing, Saylor's company acquired an additional 13,627 Bitcoin for approximately $1.25 billion. This move aligns with Saylor's long-standing strategy of adopting Bitcoin as a primary reserve asset.
MicroStrategy’s latest purchase comes after the MSCI's announcement that it would incorporate Bitcoin into its indices, a decision that reflects growing institutional interest in cryptocurrency. This indexing change is expected to boost Bitcoin's legitimacy and attract more institutional investors, making it a more appealing asset for funds and other investment vehicles.
Saylor has been a vocal advocate for Bitcoin, consistently emphasizing its potential as a hedge against inflation and a superior store of value compared to traditional assets. With this recent acquisition, MicroStrategy's total Bitcoin holdings now surpass 152,333 coins, acquired at an aggregate cost of over $4.5 billion. The company has continually reiterated its commitment to Bitcoin, viewing it as an essential part of its corporate strategy.
Despite the volatility in the cryptocurrency market, Saylor remains undeterred. He believes that Bitcoin's long-term potential outweighs short-term fluctuations, and the recent MSCI decision reinforces his confidence in the cryptocurrency’s future. Analysts suggest that Saylor’s approach may set a precedent for other corporations considering similar investments in Bitcoin.
As institutional adoption of Bitcoin increases, Saylor's aggressive acquisition strategy may influence other business leaders to follow suit, potentially shaping the future landscape of cryptocurrency investments.
Key Takeaways
- MicroStrategy purchased an additional 13,627 Bitcoin for $1.25 billion, increasing its total holdings to over 152,333 Bitcoin.
- The acquisition follows MSCI's decision to include Bitcoin in its indices, which may enhance institutional interest.
- Michael Saylor remains a strong proponent of Bitcoin, viewing it as a hedge against inflation and a crucial asset for the company's strategy.
- Increased institutional adoption could lead to broader acceptance and investment in Bitcoin as a mainstream asset class.
This article was inspired by reporting from Google News Crypto. · Report an issue