MicroStrategy Buys Another 3,000 Bitcoins, Now Has Rp50 Trillion in Crypto Assets

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Bittime – MicroStrategy never stops buying Bitcoin (BTC). This technology company from the United States (US) again announced the purchase of 3,000 Bitcoins worth Rp 2.4 trillion, which increased their collection of crypto assets to 193,000 Bitcoins worth Rp 50 trillion.

This latest purchase was made between February 15 and 25, at an average price of IDR 800 million per Bitcoin, as revealed by MicroStrategy CEO, Michael Saylor, in a fourth-quarter 2023 financial report submitted to the US Securities and Exchange Commission (SEC).

MicroStrategy Optimistic with Bitcoin

MicroStrategy's move shows that the company remains optimistic about Bitcoin's prospects in the future, even though the price of the world's largest crypto had dropped below Rp 600 million last January. MicroStrategy sees Bitcoin as a long-term intrinsic value asset and a protector against inflation, which is the reason behind the continued purchase of Bitcoin.

Since August 2020, MicroStrategy has allocated most of its cash to Bitcoin, with a total purchase cost of IDR 31 trillion. Thus, the company now has an unrealized profit potential of Rp 19 trillion, or more than 60% of the capital issued.

Michael Saylor himself is one of the most vocal Bitcoin proponents among company CEOs. He once stated "you can never have too much Bitcoin" in a CNBC interview last November. In the interview, Saylor emphasized the importance of Bitcoin in MicroStrategy's treasury management strategy, with its ability to safeguard the value of corporate assets from inflation and increase value for shareholders.

Also Read How to Buy Crypto:

MicroStrategy's Bitcoin Accumulation Reaps Controversy 

MicroStrategy's aggressive actions in accumulating Bitcoin have received mixed responses from investors and analysts. Some applaud MicroStrategy's vision, while others worry about the risks posed by owning large amounts of a single asset.

Nevertheless, Saylor and MicroStrategy seem convinced that the gains gained from buying Bitcoin outweigh the potential risks.

MicroStrategy, which pioneered Bitcoin adoption among companies, is expected to influence other institutional investors. Such institutional investors may consider allocating some of their funds to digital assets.

Conclusion

With massive Bitcoin holdings and a strong commitment to the asset, MicroStrategy has the potential to be a pioneer in a rapidly evolving financial landscape. In addition, MicroStrategy is also changing traditional views on wealth management and investment strategy through their latest moves.

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Cara Beli Bitcoin (BTC) di Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.