MicroStrategy Buys $6 Million In Bitcoin Amid Market Rout

Bitcoin Magazine

MicroStrategy has acquired a fresh batch of bitcoin despite the ongoing market rout.

The software company led by Bitcoin bull Michael Saylor added 301 BTC to its holdings in a purchase that cost about $6 million, according to a U.S. Securities and Exchange Commission (SEC) filing.

The buy is the latest in a series of acquisitions that have lasted over two years. MicroStrategy acquired bitcoin all the way up to the digital currency’s new highs in 2021, only to see it drop starkly this year. However, the market plunge hasn’t discouraged the firm, which in the first 9 months of 2022 bought over 5,000 bitcoin.

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