Microstrategy invests heavily in BTC, spending about $175 million in 17K worth of BTC. This news caught many unaware because the CEO of the firm used to be skeptical about Bitcoin.
This news has gone into the history book as the first publicly-traded company to invest in BTC. So far, MicroStrategy has spent $425 million on BTC. On Friday, Sept 14, the CEO of Microstrategy explained that they engaged in continuous trade for 74 hours to achieve this feat.
The development is surprising because Saylor used to be a BTC skeptic.
Following his Dec 2013 tweet, he stated that the days of BTC are numbered, and with time, people will see it more as online gambling. In a recent interview, he also claimed that he had forgotten the tweet, and feels so ashamed and wished he could go back to correct the tweet.
CEO Michael Saylor also explained that their considering BTC was because his business generated cash and 500 million USD in fiat, he wanted a way to keep the money's value. Watching a couple of videos from top BTC holders convinced him to make a move.
Source: Bitcoin.com
