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.

MicroStrategy said that it’s taking measures to manage $1.05 billion in corporate debt accumulated while stockpiling Bitcoin.

Michael Saylor’s MicroStrategy, a business-intelligence software company turned Bitcoin behemoth, has placed an enormous bet on cryptocurrency. The company owns approximately $48 billion worth of Bitcoin,

MicroStrategy added to its bitcoin stash for the 11th week in a row, as the company's investors get ready to vote on increasing its Class A and preferred stock and enhancing its ability to buy more bitcoin.

MicroStrategy Inc. bought $1.1 billion of Bitcoin, as the company gears up for a shareholder vote on a 30 times increase its authorized Class A shares.

While MicroStrategy's legacy software operations remain intact, its financial core has shifted decisively toward Bitcoin.