The plan may be presented for voting at MicroStrategy’s shareholders’ meeting on January 21. However, the company’s founder, Michael Saylor, has about 47 percent stake in the voting shares. With this increase in the shares of this software company, the total number of its outstanding shares will be close to that of American company Alphabet, which operates Amazon related to e-commerce and technology and Internet search engine Google. In October last year, MicroStrategy had said that it would raise about $ 42 billion by selling debt and issuing shares to buy Bitcoin in three years.
MicroStrategy’s share price has increased by more than 2,500 percent since it started buying Bitcoin. At the end of last year, this company had purchased a large number of Bitcoins for eight consecutive weeks. It is the company with the largest holding of this most popular cryptocurrency. MicroStrategy holds approximately 4,46,000 Bitcoins. However, questions have also been raised on the strategy of buying Bitcoin by selling shares of this company.
Donald Trump, who is going to take charge as President of America next week, has hinted at creating a reserve of Bitcoin. However, the Federal Reserve says it does not intend to get involved in the new government’s plan to create a large stock of Bitcoin. Russian companies are using Bitcoin in their business abroad. The Russian government had changed the law to allow the use of cryptocurrencies to deal with the restrictions of Western countries. Russian President Vladimir Putin had said that the current US government is reducing the role of the US dollar by using it for political purposes. Because of this many countries are having to turn to other assets. He gave the example of Bitcoin among these types of assets.
Cryptocurrency prices in Indian exchanges
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