MicroStrategy (MSTR) recently doubled down on bitcoin (BTC-US) by once more adding more of the cryptocurrency to its balance sheet. The analytics platform now owns the most bitcoin out of all publicly traded companies.
“Calling it a ‘cloud services company’ doesn’t even feel fully accurate anymore,” Daniel Roberts, editor in chief of Decrypt Media, told Yahoo Finance.
“Obviously some preexisting MicroStrategy shareholders from before Saylor went gaga for bitcoin probably don’t love it, but when bitcoin goes up, he gets to show the returns and look like a winner,” he added.
Investors who don’t want to shell out $50,000 per bitcoin can still gain exposure to it via companies that hold the cryptocurrency on their balance sheets. Some of these are directly involved with crypto while others are involved in other businesses but keep bitcoin as an asset.
The analytics platform company holds the top place for a publicly traded firm owning the most bitcoin (BTC-US), adding to its position time and again.
