Business intelligence firm MicroStrategy has announced its commitment to continue purchasing Bitcoin, despite cryptocurrency prices experiencing recent fluctuations.

During an earnings call earlier this week, Phong Le, CEO of MicroStrategy, stated that the firm’s strategy is to acquire and hold Bitcoin with its excess cash and capital market transactions.

Le noted that MicroStrategy’s core business remains unaffected by near-term Bitcoin price fluctuations and added that the firm’s commitment to its Bitcoin acquisition strategy remains firm.

Since 2020, MicroStrategy has continued to purchase Bitcoin, with its most recent purchase being for 1045 Bitcoins last month.

Currently, MicroStrategy holds 140,000 Bitcoins with an aggregate cost of $4.2 billion, making it the world’s largest publicly traded corporate holder of Bitcoin.

Despite its Bitcoin stash remaining in the red for around a year, MicroStrategy’s decision to invest heavily in Bitcoin has recently paid off handsomely, with the holdings increasing in value as the cryptocurrency’s price surged in recent months. As per CoinMarketCap data, at press time, BTC was trading at $28,762, up 2.08% in the past seven days.

Le also reassured investors of the firm’s financial health, noting that it had repaid its $205 million Bitcoin-backed loan from Silvergate last year at a 22% discount.

In March, MicroStrategy disclosed in a filing with the U.S. Securities and Exchange Commission that it used part of the proceeds from a $339.4 million public sale of its shares to pay back the loan.

MicroStrategy’s decision to invest heavily in Bitcoin has been controversial, with some investors expressing concerns about the cryptocurrency’s volatility.

However, Michael Saylor, now the company’s Executive Chairman, has remained bullish on Bitcoin, saying it’s “100% better than gold”. He has also argued that Bitcoin is a hedge against inflation and a safe-haven asset during economic uncertainty.

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