MicroStrategy has purchased an additional 16,769 Bitcoins (BTC) worth $175 million to own a total of 38,250 BTC. Previously, the mobile intelligence and software company acquired 21,454 BTC. The company’s founder and CEO, Michael Saylor, also revealed in a tweet that the acquisition occurred on the 14th of September.
On the same day, MicroStrategy’s board of directors adopted a new treasury reserve policy. According to a filing with the US SEC, the company elected Bitcoin as its primary reserve asset. The filing also said that MicroStrategy may add to its BTC reserves in the future.
In reaction to MicroStrategy’s new acquisition, Grayscale founder Barry Silbert said in a tweet:
“Apparently, there is some kind of Bitcoin buying race between MicroStrategy and Grayscale. Game on.”
Recently, Grayscale has also been acquiring Bitcoin. In June, the investment company added $19,879 BTC to its Bitcoin Trust. Since the May block reward halving, Grayscale has purchased more than half a billion dollars in BTC.
Now, the company has over 450,000 BTC and $4.5 billion in assets under management.
Grayscale also has investments in other cryptocurrencies. In June, the company purchased $110 million worth of Ethereum (ETH).
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