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MicroStrategy bought more bitcoin in October as asset gained value

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Business intelligence company and bitcoin bull MicroStrategy continued to add to its digital asset war chest as prices increased.

MicroStrategy Chairman and founder Michael Saylor said the company nabbed another 155 bitcoin for $5.3 million in October, a month marked by a surge in price for the most popular of cryptocurrencies.

That set MicroStrategy up for some quick gains on its recently purchased bitcoin as the price for the digital asset soared in October, nearly hitting $35,000 at one point. Bitcoin is currently hovering just below that mark amid excitement that spot bitcoin ETFs might soon gain the necessary approval required before investors can pour money into the new financial instrument.

 

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