MicroStrategy to explore new bitcoin investment opportunities

The analytics software maker MicroStrategy will continue to deploy free cash flow into bitcoin and will explore new ways to invest in the leading cryptocurrency, according to the company’s chief executive Michael Saylor in the fourth-quarter 2020 report.

“Going forward, we continue to plan to hold our bitcoin and invest additional excess cash flows in bitcoin. Additionally, we will explore various approaches to acquire additional bitcoin as part of our overall corporate strategy.”https://t.co/RNs8E0XF6J

— Michael Saylor (@michael_saylor) January 28, 2021

“Our innovative decision to make bitcoin the primary reserve asset has made MicroStrategy a recognised authority in the cryptocurrency market and has generated enormous interest in the company,” said Saylor.

According to him, 2020 was transformational for MicroStrategy. The company’s fourth-quarter revenue amounted to $131.3 million, down 1.7% from the same period in 2019. Gross income reached $110.5 million with a margin of 84.2% versus 81.6% a year earlier.

In August 2020 the company bought 21,454 BTC for about $250 million. A month later the firm invested another $175 million in bitcoin, and in December added $650 million raised through the issuance of debt securities. On 23 January MicroStrategy bought another 314 BTC for a total value of $10 million.

As of writing, MicroStrategy holds 70,784 BTC worth more than $2.5 billion, according to BitcoinTreasuries.

Earlier, Saylor said that the inflows of money from financial assets into bitcoin are not a bubble.

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