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MicroStrategy Buys Bitcoin Worth $615.7 Million Ahead of Spot ETF Approval

Software Firm MicroStrategy Buys Bitcoin Worth $615.7 Million Ahead of SEC

Software firm MicroStrategy said on Wednesday it had bought bitcoin worth about $615.7 million (Rs. 5,120 crore) in cash, amid growing expectations that the top US markets regulator will soon approve a spot bitcoin exchange traded fund (ETF).

The company and its subsidiaries purchased about 14,620 bitcoins at an average price of roughly $42,110 (roughly Rs. 35 lakh) between November 30 and December 26, according to a regulatory filing.

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