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MicroStrategy Buys More Bitcoin as Price Sees Mild Recovery



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Alex Dovbnya

The business intelligence firm has added 301 coins to its stash, underscoring its commitment to the largest cryptocurrency

Business intelligence firm MicroStrategy has acquired another $6 million worth of Bitcoin for $19,851 per coin, according to a regulatory filing published earlier this Tuesday. 

The Tysons, Virginia-headquartered firm now and its subsidiary own a total of 130,000 bitcoins that were acquired for about $3.89 billion.

The company is down roughly $1.5 billion on its extremely audacious Bitcoin bet that is now widely viewed as a failure. 

However, despite sitting on humongous losses, the company is not backing away from its strategy, with its former CEO Michael Saylor remaining an ardent proponent of the largest cryptocurrency.

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Bitcoin is currently trading at $19,170 on the Bitstamp exchange, adding roughly 2.44% over the past 24 hours.        



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