MicroStrategy Buys Bitcoin After Adding Preferred Offering (1)

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.

MicroStrategy purchased 1,070 Bitcoin tokens at an average price of approximately $94,000 on Dec. 30 and Dec. 31, according to a filing with the US Securities and Exchange Commission on Monday.

The company ...