MicroStrategy Buys US$250M of BTC

What happened: MicroStrategy—a Nasdaq-listed business software firm worth $1.3B—bought 21,454 BTC, worth nearly $250M as of this writing. Why it matters: This is the first-ever time a publicly traded company has bought BTC as part of a capital allocation strategy. From the CEO: “Our investment in Bitcoin is part of our new capital allocation strategy, […]