Another Large Bitcoin Purchase from MicroStrategy
For another time, we hear that MicroStrategy invests in Bitcoin, but we can see the impact of those moves in the price formation.
Right now, MicroStrategy holds over 70,000 bitcoins, whose value overcomes the $1.6 billion barrier, making it win the title of “the largest institutional investor in crypto”.
The reaction from ratings houses was not good and many of them downgraded the investment outlook on MicroStrategy as they thought that it takes larger investment risks that it could handle and this will reduce its portfolio value.
The statement from MicroStrategy’s CFO Phong Le:
“The company believes the Bitcoin will become the investment opportunity for better returns and capital preservation comparing to cash”