Their biggest backers include an unlikely group of insurance companies, mutual funds and other usually conservative bond investors.The software company turned itself into a bitcoin whale and now owns some $48 billion of the cryptocurrency.

When you think of companies that rival Amazon (AMZN) in size and scope, MicroStrategy (MSTR) isn’t the first name that comes to mind. Yet the software company turned Bitcoin powerhouse is about to join the ranks of tech giants like Amazon,

MicroStrategy stock is testing a closely watched level as bitcoin prices have risen. So, is it time to buy, sell or hold?

MicroStrategy, led by Michael Saylor, has announced its latest Bitcoin purchase, marking its third acquisition of the year.

That all changed in 2020, when MicroStrategy's co-founder and then-CEO Michael Saylor directed it to buy 21,454 Bitcoin s (CRYPTO: BTC) for $250 million. It then accumulated more Bitcoin each year, and it held 450,000 Bitcoins as of Jan. 13.

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR). Led by Executive Chairman Michael Saylor, MicroStrategy (MSTR) has again added to its massive bitcoin (BTC) stack. In the week ending Jan 19,

MicroStrategy shareholders approves major increase in the company’s authorized shares, expanding from 330M to 10.3B for BTC acquisitions.

Benchmark maintains its buy rating on MSTR with a price target of $650. As of Monday, MicroStrategy purchased a further 2,530 BTC taking total holdings to 450,000 BTC.

UTXO Management, in partnership with Sora Ventures and others, acquires a majority stake in Hong Kong-listed HK Asia Holdings Limited, unveiling plans to rebrand as Moon Inc. and lead strategic investments in Bitcoin,

Sprouts stock is in a cup base, but astute investors may have spotted an early entry. Profits are expected to climb 46% in the fourth quarter.

MicroStrategy shares closed down Wednesday, due to a decline in Bitcoin's price, which dropped 1.73% to $104,313.65.