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MicroStrategy Tells SEC It 'May Increase' $250M Bitcoin Reserves
MicroStrategy told the SEC it "may increase" its bitcoin (BTC) holdings beyond the $250 million haul purchased in August.
MicroStrategy is refusing to rule out future bitcoin gambles.
STORY CONTINUES BELOW
- The business intelligence company told the U.S. Securities and Exchange Commission on Monday it "may increase" its bitcoin (BTC) holdings beyond the $250 million haul purchased in August.
- That blockbuster buy transformed much of MicroStrategy's cash reserves into bitcoin, placing the Nasdaq-traded firm among Wall Street's most notable bitcoin bulls.
- Future allocations would continue down the treasury allocation path. On Sept. 11, the board formally recognized bitcoin as MicroStrategy's "primary treasury reserve asset on an ongoing basis."
Read more: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
