This Company Is Buying More Bitcoin in This Crypto Crash -- Should You Do the Same?
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Business analytics company MicroStrategy has converted nearly all of its cash reserves into Bitcoin tokens. CEO Michael Saylor is extremely bullish on Bitcoin's long-term prospects as an investment and ultimately as the currency of the future. Saylor has been spreading the word about Bitcoin for a couple of years already. The company now holds 129,699 Bitcoins in its digital coffers, worth approximately $2.50 billion at today's prices. The average price per coin worked out to $20,817, and the total investment added up to $9.99 million in May-June-June. The Bitcoin market is still in its infancy and the domestic market doesn't have a proper regulatory framework yet, and governments around the world are wrestling with their approaches to this unfamiliar asset class. Source