Strategy Buys More Bitcoin After Announcing Preferred Sales (1)

Michael Saylor’s Strategy said it bought $10.7 million of Bitcoin, a week after unveiling plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency.

The enterprise software company turned leveraged Bitcoin proxy controlled by co-founder and chairman Saylor has been buying Bitcoin on a frequent basis since late October. The former MicroStrategy purchased 130 Bitcoin at an average price of approximately $82,981 from March 10 through March 16, according to a filing with the US Securities and Exchange Commission on Monday. It now holds about $41.6 billion of Bitcoin.

The preferred stock sale ...