New York Based Townsquare Media Purchased $5 Million Worth Of Bitcoin Today

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  • Townsquare Media purchased an aggregate of $5 million worth of bitcoin in a recent SEC filing.
  • The company notes that its Q1 2022 purchase could have realized a $1.2 million profit had the company sold.
  • Townsquare stated it believes in the “long-term potential” of bitcoin.

Townsquare Media (NYSE:TSQ), a digital media and marketing solution, submitted a Securities and Exchange Commission (SEC) filing detailing a purchase of $5 million in bitcoin, spotted first by MacroScope.

“During the quarter ended March 31, 2022, the Company invested an aggregate of $5.0 million in Bitcoin,” the filing states. “We have ownership of and control over our digital assets and we use third-party custodial services to secure it.”

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