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.

MicroStrategy—which almost exclusively focuses on securitizing Bitcoin—last year announced a “21/21 Plan” to raise $46 billion to buy even more Bitcoin. The plan would see the firm raise $21 billion via equity, with another $21 billion coming by selling fixed income securities.

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.

If bitcoin goes to the moon, a niche group of convertible-bond investors will win out. If the crypto tanks, they can ask for their money back early.

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

On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.

MicroStrategy's bold play is sparking a ripple effect. Canadian video-sharing platform Rumble just made its first Bitcoin splash, reportedly investing up to $20 million to safeguard against inflation.