MicroStrategy Buys More Bitcoin as Funding Draws Scrutiny

MicroStrategy Inc. bought another $2.1 billion in Bitcoin while its combination of equity and fixed-income securities sales to finance the rapidly increasing acquisitions draws increased scrutiny.

It was the fifth consecutive Monday that the Tysons Corner, Virginia-based firm announced purchases of the digital asset. Co-founder and Chairman Michael Saylor has accumulated Bitcoin now worth more than $41 billion over the past four years after deciding that the small enterprise software maker needed to embark on a different path to survive. He accelerated the strategy shift in October by announcing plans to raise $42 billion over the next three years through an evenly split combination of at-the-market stock sales and convertible debt offerings.