September 15, 2020 MicroStrategy increases BTC holdings to $425M.

Nasdaq-listed business software and analytics firm MicroStrategy has purchased an additional 16,796 BTC, worth around $175M, according to CEO Michael Saylor. The firm made headlines earlier this year when it converted $250M in cash reserves to BTC. It’s BTC holdings now total 38,250, worth around $425M. The company has previously released statements justifying the move as a “reasonable hedge against inflation.”