46.9 F
London
November 14, 2024
PI Global Investments
Bitcoin

MicroStrategy (MSTR) Bitcoin (BTC) Bet Now Worth $10 Billion


In the midst of the Covid-19 crisis, MicroStrategy Inc.’s Michael Saylor made the then little-noticed decision to invest the enterprise-software maker’s cash into Bitcoin.

Before the shift in the middle of 2020, the Tysons Corner, Virginia-based company Saylor co-founded had about $500 million mostly invested in short-term U.S. government securities. At the time, Saylor said he began to question that conventional strategy when yields tumbled in the wake of the pandemic. He called his cash hoard a “melting ice cube,” predicting accurately that inflation would surge after the Federal Reserve relaxed policy.



Source link

Related posts

Bitcoin mining ‘Made in the USA’? This is Donald Trump’s plan

D.William

Bitcoin (BTC) Rally May Slow as Order-Book Imbalance Hints at Profit Taking

D.William

BlackRock and ProShares’ Bitcoin ETFs Surpassed GBTC’s Daily Volumes

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.