Cryptocurrencies
MicroStrategy Taps Stock Market to Fund Record Bitcoin Buy
- Firm announced a $21 billion equity sale plan last month
- Sold 13.6 million shares in past week to fund Bitcoin purchase
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MicroStrategy Inc. bought a record $4.6 billion in Bitcoin, making good on plans announced last month to tap capital markets to accelerate purchases of the cryptocurrency.
The enterprise software maker, whose corporate strategy includes buying the digital asset, acquired about 51,780 Bitcoin between Nov. 11 and Nov. 17, according to an US Securities and Exchange Commission filing on Monday. That follows purchases of over 27,000 Bitcoin between Oct. 31 and Nov. 10, and two large acquisitions in September. The Tysons Corner, Virginia-based firm now owns around $30 billion in Bitcoin.