Saylor has, numerous times, reiterated the company’s bullish stance on BTC. The CEO himself is a bitcoin maximalist with a personal and corporate stake in the digital asset. The company has so far raised almost $400 million to fund its purchases this year and has seen tremendous gains from its investment.
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MicroStrategy Buys 9,000 BTC
MicroStrategy once again raised its bitcoin bet with its most recent purchase. In October, the company that it had purchased an additional 9,000 BTC to its already impressive holdings. MicroStrategy had taken its usual route to purchase its latest lot of the digital asset, staking that the purchase was made possible by “successfully raising capital in the quarter through our at-the-market equity offering.”BTC trading above $62K | Source:The latest purchase brings MicroStrategy’s BTC holdings to a total of 114,042 BTC. The company is still long on the digital asset after CEO Michael Saylor revealed during an earnings call that the company does not intend to sell any of the BTC on its balance sheet. MicroStrategy believes that the asset is one of the best long-term investments available.
Going All In On Bitcoin
Despite the massive gains on its investment thus far, MicroStrategy has made no attempt to cash out the profits from the digital asset. Instead, the company plans to continue to purchase more bitcoins over time. Saylor explained this in a when laying out the tech company’s intent for the future. “We will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy,” Saylor explained.Related Reading | El Salvador Calls Another Bitcoin Dip With $25 Million Purchase
Featured image from AZCoin News, chart from TradingView.com