The largest independent, publicly traded, business intelligence enterprise, MicroStrategy Inc., announced today that it has bought a total of 250 million dollars for 21,454 Bitcoins, including fees and spending.
Bitcoin's cryptocurrency was purchased in accordance with the company's previously announced two-pronged capital allocation strategy when it published its results for the fiscal second quarter of 2020 on 28 July, 2020.
Our investment in Bitcoin is a part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders. Michael J. Saylor, the CEO of MicroStrategy Incorporated
The firm called on shareholders to transfer some of its cash when it announced that through a modified Dutch auction offer, it had launched a cash offer for up to $ 250 million of MicroStrategy's class A common shares.
By purchasing 21,454 Bitcoins, MicroStrategy was engaged in another component of its capital allocation strategy, which required up to $250 million to invest in one or more alternative investments or assets. Michael J. Saylor, the CEO of MicroStrategy tweeted about that.
MicroStrategy has a 30-year history of anticipating technology trends, it's a leader in commercial intelligence. MicroStrategy was one of the first business intelligence software companies.
A pioneer in interaction analysis, digital intelligence and mobile intelligence, it's latest development is HyperIntelligence® – zero-click observations that can be incorporated in apps to help them become smarter, quicker and more powerful.
About MicroStrategy Incorporated
MicroStrategy (Nasdaq: MSTR) with a leading business analytics platform is the only independent publicly listed strategic intelligence firm. Our vision is to activate EverywhereTM Intelligence. MicroStrategy provides innovative insight on a free, full business network that is used in the Fortune Global 500 by many of the world's most famous brands.