Microstrategy borrows money to buy bitcoin

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Microstrategy takes on $2.4 billion in debt to buy bitcoin despite recent volatility
The three-year loan was collateralized with about $ million in bitcoin, representing about 12% of MicroStrategy's overall cryptocurrency. Michael Saylor defended his company's debt-fueled, bitcoin buying spree over the last year by saying it continued to be a great investment. (Reuters) - Major bitcoin corporate backer MicroStrategy will borrow $ million to buy more of the currency, it said on Tuesday.