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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.

Updated Sep 14, 2021, 9:55 a.m. Published Sep 14, 2020, 6:35 p.m.

MicroStrategy is refusing to rule out future bitcoin gambles.

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The business intelligence company told the U.S. Securities and Exchange Commission on Monday it "may increase" its bitcoin BTC$83,954.67 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."