MicroStrategy Buys Bitcoin After Adding Preferred Offering
- Firm bought $101 million of Bitcoin on Dec 30 and Dec. 31
- Holds around $44.3 billion worth of Bitcoin as of Jan. 5
The MicroStrategy Inc. headquarters in Tysons Corner, Virginia.
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
MicroStrategy Inc. bought $101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency.
The Tysons Corner, Virgina-based enterprise software company turned leveraged Bitcoin proxy has purchased Bitcoin for nine consecutive weeks, as co-founder and Chairman Michael Saylor aims to advance its Bitcoin holding strategy. It holds around $44.3 billion in Bitcoin.