MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

CEO Michael J. Saylor said bitcoin is now the "principal holding" in his business intelligence company's revamped treasury reserves strategy. (MicroStrategy/Wikimedia Commons)

Publicly traded business intelligence firm MicroStrategy purchased 21,454 bitcoin on Tuesday, effectively pouring all $250 million of its planned inflation-hedging funds into the digital currency.

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