Strategy buys more Bitcoin—$264 million of it—even as Bitcoin slumps to $87,000

Despite the current downturn for crypto, Strategy added even more Bitcoin to its collection. The company bought more than 2,900 Bitcoin last week, bringing its total to over 712,000, according to an X post by co-founder Michael Saylor. The move follows a more than $2 billion purchase earlier this month. 

Strategy is the first and biggest digital asset treasury, or a type of company that acquires and holds onto large amounts of crypto. Saylor’s company began investing in Bitcoin in 2020...