MicroStrategy buys $250m in bitcoin, making the crypto as a primary treasury reserve asset

(Opalesque) Nasdaq-listed software firm MicroStrategy purchased 21,454 bitcoin on Tuesday, effectively pouring all $250 million of its planned inflation-hedging funds into the digital currency. Disclosing its bitcoin buy alongside an equivalent stock buyback in a Tuesday Securities and Exchange Commission filing, MicroStrategy, a publicly-traded business intelligence firm worth over $1.2 billion.

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