The first traditional company to bet on Bitcoin, MicroStrategy, has earned $100 million in less than three months thanks to BTC.
A few months ago, the crypto world was shocked by the news that a traditional company, MicroStrategy, decided to invest some of its reserve money in Bitcoin. And just a few weeks later, the company’s decision has paid off. MicroStrategy has earned $100 million since acquiring Bitcoin, as the BTC Times account comments in today’s Tweet:
MicroStrategy Wins with Bitcoin
By all measures, MicroStrategy is a traditional company. It is dedicated to the development of its own OLAP financial intelligence software for enterprise reporting. Therefore, when the company announced in early August the purchase of more than 20,000 Bitcoin, the crypto world went crazy.
Although it is not the first company to acquire the crypto currency, since Jack Dorsey’s company, Square, already had certain reserves of the crypto asset. MicroStrategy was indeed the first company totally outside of cryptology to bet on virtual currency. It also doubled its investment in September to reach $425 million in BTC.