What was their primary treasury reserve asset before the switch to Bitcoin? Unless I'm missing something, I don't see that mentioned anywhere in the article. I find it hard to believe a company would go from something ultra-stable like T-Bills to Bitcoin... so I have to imagine they already had something on the more volatile side...
(originally that linked to a BusinessWire article, but it's now updated to the press release linked from this submission)
"This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash."
- Michael J. Saylor, CEO