World’s Biggest Business Intelligence Firm Belive in Bitcoin

The world’s largest publicly traded business intelligence company MicroStrategy has formally adopted Bitcoin as its primary reserve asset. MicroStrategy confirmed it had purchased 21,454 BTC for $250 million.

Michael J. Saylor, CEO of MicroStrategy said: “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

The move marks a watershed moment for institutional uptake of Bitcoin, and did not go unnoticed by analitics. Also it had a noticeable impact on MicroStrategy’s stock price, which has gained 5.7% since. At the same time, the price of Bitcoin has gained over 10%.