Business intelligence company MicroStrategy bought 314 bitcoin for $10 million on Friday, piling on in a market that was down as much as 15% only one day before.

  • CEO Michael Saylor said in a tweet the coins cost an average of $31,808. He said the purchase conforms with MicroStrategy's treasury reserve policy.
  • This is MicroStrategy's first treasury padding since splurging $600 million on the market-leading cryptocurrency following a debt raise.

This is a developing story.

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