MicroStrategy Incorporated, led by CEO Michael Saylor, has once again reinforced its bullish stance on Bitcoin by investing an additional $147.3 million in the digital currency. This latest investment brings the firm's total Bitcoin holdings to 158,245 BTC, acquired for approximately $4.68 billion.
The company's decision comes amidst Bitcoin's strong performance, which has been outpacing traditional assets and other major indexes. A recent chart comparison reveals a remarkable 147% growth in Bitcoin value since it was adopted as a treasury reserve asset (TRA) by MicroStrategy in August 2020. Compared to this robust growth, the S&P 500 and the Nasdaq Composite have shown increases of only 26% and 18% respectively over the same period.
Simultaneously, traditional assets have been experiencing a decline. Gold, often considered a safe-haven asset, has dropped by 3%. Similarly, silver and bonds have seen significant slumps of 19% and 24% respectively.
Despite these trends and the current lack of profitability due to Bitcoin's average price, Saylor remains optimistic about the digital currency. He stated confidently that "Bitcoin is stronger." His statement underscores his belief in Bitcoin as a valuable inflation hedge, often referred to as "digital gold."
MicroStrategy's continued investment in Bitcoin underscores its commitment to the digital currency as a core part of its treasury strategy and its belief in its potential long-term growth.
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