MicroStrategy Incorporated is a company that provides business intelligence (BI), mobile software, and cloud-based services. The company was founded by Michael J. Saylor and Sanju Bansal in 1989.

In a recent report by The Block, Chief Executive Michael Saylor told investors his firm was on its way to “leverage” its business intelligence experience in the bitcoin data space. He further added :

“There’s an entire exploding universe of intelligence opportunities all wrapped around this kind of unique bitcoin intelligence coming off the blockchain. And we’ll explore it all.”

It is now in the process of creating a team that will explore the data and analytics products for bitcoin.

Microstrategy initially bought  $250 million worth of bitcoins on August 11. Again, on September 14, it purchased an additional $175 million worth of bitcoins. The company has now a total holding of $521 million worth of bitcoins. CEO Michael Saylor revealed in earlier reports that he personally owns $240 million worth of bitcoins which he bought with an average of $9,882 each.

During the conference call, Saylor further explained:

“We’re gonna take Hyper. Now and Intel. Now and that entire out-of-the-box, multi-tenet SaaS offering and think about ways to deliver business intelligence that’s of interest to the bitcoin community and maybe to the greater crypto community as this business evolves.”

But he also clarified that the company has no bitcoin-focused product waiting in the wings to be launched yet.

“We don’t have anyone thing that we’re sure makes sense to commercialize yet. But we think there’s an entire exploding universe of intelligence opportunities all wrapped around this unique bitcoin intelligence coming off the blockchain. And we’ll explore it all and look for efficient, artful ways to integrate it into our existing business and deploy it.”

Major companies are joining the roster of companies who were not just bitcoin investors but are also developing platforms that will further utilize the technology behind it. With the recent bitcoin trend and massive adoption, we would be expecting the price of bitcoin to spike even more in the coming days. Will it ever reach the 20k all-time high in 2017? Or will it set a new all-time high this year? Bitcoin holders are definitely very excited by this time. Who would not?