Bitcoin’s largest corporate investor company MicroStrategy has confidence in Bitcoin, will continue to invest

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MicroStrategy, Bitcoin’s largest corporate investor, has decided to continue pouring money into its “digital asset strategy” despite incurring losses. The US-based business intelligence software developer said the current value of its bitcoin holdings was $2.051 billion (about Rs 15,255 crore), with a cumulative impairment loss of $689.60 million (about Rs 5,130 crore). However, this is treated only as a paper loss (not yet realized), based solely on the price of the cryptocurrency at the end of Q2. CEO Michael Sellar, who has often been optimistic about the future of the world’s oldest cryptocurrency, said he is “pleased with the results” of the digital asset strategy.

Seller said in a statement that the company’s latest funding has allowed it to increase its digital holdings to more than 1.05 million bitcoins. “Going forward, we intend to invest additional capital in our digital asset strategy,” he said.

The company said that its subsidiary MacroStrategy holds approximately 92,079 bitcoins.
Reiterating his stance on the future of bitcoin on Friday, Seller said that his company’s strategy is to invest in bitcoin for the long term because Big Tech’s future is a “digital asset.”

Earlier in another tweet, he said that bitcoin was the fastest growing and most widely held financial asset in the history of the world as it is now held by over 114 million people.
When Elon Musk mocked bitcoin extremists last month with a lightbulb joke, Seller responded to him.

Seller made the first investment in bitcoin in August last year with the purchase of 21,454 bitcoins for $250 million (about Rs 1,860 crore). In February this year, his company added another 19,452 bitcoins for around $1 billion (about Rs 7,440 crore). MicroStrategy’s bitcoin holdings had reached 90,859 BTC as of March 1, which was acquired for $2.19 billion (approximately Rs 16,290 crore). In less than a year, Sellar has transformed a relatively obscure intelligence software firm into a true bitcoin ETF.<!–

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