MicroStrategy, a company listed on the Nasdaq, bought 38,000 bitcoins (BTC).
The company integrates Bitcoin Code scam into its treasury to protect itself from inflation.
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MicroStrategy, a company listed on the Nasdaq, consecutively bought 21,454 bitcoins in August and then 16,796 bitcoins in September for a total value of $ 425 million.
The company will integrate Bitcoin (BTC) into its treasury to guard against strong uncertainties linked to the dollar.
MicroStrategy buys 424 M $ of Bitcoin
The American company wishes to protect itself from the weakening of the dollar and the context of great uncertainty linked to the coronavirus pandemic. Michael Saylor, CEO of MicroStrategy, explained:
This investment reflects our belief that Bitcoin is a reliable store of value and an attractive asset with greater potential for long-term appreciation than holding cash.
A favorable context
The CEO of the company cited the forces that are helping to weaken conventional currencies. The latter cited the uncertainty in the world linked to the coronavirus pandemic
The initiative led by his company could spur other companies to take action, he said.