MicroStrategy began as a software firm but is now famous for something else. It has purchased more than 226,000 Bitcoin, almost all of them with borrowed funds and funds from the sale of shares. Its average cost was approximately $35,000 per coin. Now that Bitcoin is well above $118,000, MicroStrategy is enjoying massive profits.
Michael Saylor, the company’s founder, believes in Bitcoin investment. He has used every chance to buy more. In return, the company’s stock has jumped more than 90 percent this year. That’s better than most other stocks and even some crypto ETFs.
Also Read: MicroStrategy to Raise $4.2B via STRD Stock Sale to Fund Major Bitcoin Purchases