Publicly Traded Company Buys $250 Million Bitcoin

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“Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it.” So said Michael J. Saylor, the CEO of MicroStrategy Incorporated, a publicly traded company with about half a billion in yearly revenue and some $1 billion in total assets. $250 million of it is in bitcoin, Saylor announced, stating it is better than cash due to among other things the “unprecedented government financial stimulus measures including quantitative easing adopted around the world, and global political and economic uncertainty.” In a bitcoin advertisement even bigger than that of Barry Silbert, Saylor said in a statement: “We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility, and community ethos of Bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value. Bitcoin is digital gold – harder, stronger, faster, and smarter…

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