MicroStrategy Buys $1.11 Billion in Bitcoin, Increasing Its Holdings

MicroStrategy (MSTR) has bought an extra $1.11 billion worth of Bitcoin (BTC-USD), increasing the amount of Bitcoin it owns. With this purchase, the company now has more than 244,000 Bitcoin coins in its portfolio. MicroStrategy’s CEO, Michael Saylor, continues to put a lot of money into Bitcoin as part of the company’s long-term plan. Bitcoin is seen as a way for the company to protect itself from inflation and a key part of its financial plan.

Seana Smith and Madison Mills, co-hosts of Catalysts, went into great detail about this new buy. For more information, Michael Saylor talked about the company’s plans and Bitcoin approach in an August chat with Yahoo Finance.

MicroStrategy continues to invest in Bitcoin, which shows that it has faith in the cryptocurrency’s future value and role in the world’s financial system.

The full talk can be found on Yahoo Finance’s “Catalysts” for more expert insight.