MicroStrategy shook the financial world twice in the last 6 weeks by using almost all of its equity to buy Bitcoin.
The Nasdaq-listed analytics software firm doubled down on its original purchase of $250m in Bitcoin, by spending a further $175m on the leading cryptocurrency.
To date, MicroStrategy has bought 38,250 bitcoins at an aggregate price of $425 million, which has led some to calling it a declaration of war.
MicroStrategy Declares War on The Fed
MicroStrategy’s bold move surprised everyone, even the most ardent Bitcoin Maximalists. No doubt everyone expected institutional money to slowly start buying up Bitcoin, but a public company spending almost half a billion dollars on Bitcoin wasn’t expected.
The Bitcoin purchase has rocked the financial world, not just the Bitcoin space, and led Bitcoin permabull Max Keiser to claim it was declaration of war on the Fed by MicroStrategy. Read More at Bitcoin Maximalist