Reported about 19 hours ago
Strategy, formerly MicroStrategy Inc., announced a significant acquisition of $742.2 million in Bitcoin over the past week, marking a return to its purchasing strategy that started in late October. The company, based in Tysons Corner, Virginia, has purchased Bitcoin in 12 of the last 13 weeks, accumulating around $47 billion worth, which constitutes more than 2.5% of all Bitcoin that will ever exist. Following a $670.8 million net loss for the fourth quarter, attributed to a $1 billion impairment charge on its Bitcoin asset, Strategy anticipates profitability in the current quarter due to new accounting guidelines. Co-founder Michael Saylor emphasized the continuation of leveraging convertible bond strategies to benefit Bitcoin investors.
Source: YAHOO