The board of directors of analytical software provider MicroStrategy, which previously invested $ 250 million in bitcoin, has adopted a new policy for managing reserves. The document confirms the company’s readiness to increase investments in the first cryptocurrency.
Nasdaq-listed MicroStrategy’s reserves will consist of fiat currency, its equivalents and short-term investments, as well as bitcoin. The board of directors decided to use cryptocurrency as the main reserve asset on an ongoing basis.
“As a result of the new policy, Bitcoin assets could exceed the $ 250 million investment the company announced on August 11, 2020,” the report says.
We will remind, the CEO of the company Michael Sailor called investing in bitcoin a reliable alternative to the devalued US dollar. After purchasing 21,454 BTC, MicroStrategy became the first public company to invest a portion of its capital in a cryptocurrency.
Earlier, the Canadian firm Snappa transferred half of its fiat reserves to bitcoin due to high inflationary risks. In the future, the company’s management plans to increase investments in BTC.