Security News > 2021 > May > Business-intelligence-company-turned-Bitcoin-addict MicroStrategy grabs another $10m crypto-coin fix

Wikipedia says MicroStrategy is a company that provides business intelligence, mobile software, and cloud-based services, but that wouldn't be the first outdated information on the crowdsourced knowledge repository.

In a US Securities and Exchange Commission filing, the software company founded in 1989 said it would purchase $10m in the Bitcoin cryptocurrency at an average price of $43,663.

Through the website Bitcoin is Hope, he is also a promoter of the currency, seemingly so overwhelmed with its benefits he can't help but share.

With a 70 per cent stake in MicroStrategy, Saylor has reportedly dismissed concerns that he is turning his baby into a Bitcoin investment firm.

Erstwhile Bitcoin zealot Elon Musk has decided his electric car company Tesla should stop taking Bitcoin, apparently down to environmental concerns, as if it had only just occurred to the walking mid-life crisis that spaffing the electricity supply of Argentina on a made-up thing might be a bad idea during a global climate meltdown.

The debate about the virtues and vices of Bitcoin will no doubt rage on, with commentators inevitably drawn to comparisons with the 17th-century tulip bubble.

News URL

https://go.theregister.com/feed/www.theregister.com/2021/05/18/microstrategy_bitcoin/