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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.
By Danny Nelson
Updated Sep 14, 2021, 9:55 a.m. Published Sep 14, 2020, 6:35 p.m. 1 min read
MicroStrategy is refusing to rule out future bitcoin gambles.
- The business intelligence company told the U.S. Securities and Exchange Commission on Monday it "may increase" its bitcoin 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’
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