MicroStrategy's bitcoin (EXANTE: Bitcoin) reserves surpassed the 91,000 mark as the company has invested an additional $10 million in the cryptocurrency. According to a regulatory filing, with the last purchase of 205 bitcoins at an average price of $48,888 per BTC, the company hodls a total sum of 91,064 BTCs (~$4,4 billion). As of press time, bitcoin (EXANTE: Bitcoin) is trading at the $48,328 level.
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MicroStrategy CEO, Michael Saylor, previously said the company "will continue to pursue" its business strategy of acquiring additional bitcoins. He also believes said that investing in the cryptocurrency is more profitable than investing in early-stage tech stocks.
The CEO of BitGo, Mike Belshe, supports this thinking. According to Belshe, companies should "heavily" invest in bitcoin.
"I think the global pandemic has shown that some exposure to digital assets is actually a way to stabilize your business as opposed to destabilizing it," he said.
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