MicroStrategy Buys Bitcoin Again, Stock Falls | Global News Avenue

MicroStrategy (Magnetic transmission technology) bought more Bitcoin (Bitcoin USD) Over the past week, the company has acquired more digital currencies for the eighth consecutive week.

The software company-turned-bitcoin buyer said in a filing with the U.S. Securities and Exchange Commission Securities and Exchange Commission (SEC) On Monday, the company spent approximately $209 million in cash to purchase 2,138 Bitcoins between December 23 and 29, at an average price of $97,837. The company currently holds 446,400 Bitcoins.

MicroStrategy stock Join the Nasdaq 100 Index Bitcoin prices have fallen over the last week, falling more than 6% in recent trading. The cryptocurrency recently traded around $92,500, down from last week’s high of around $99,000 and its all-time high of $108,000 two weeks ago.

Buy MicroStrategy as part of the “21/21” strategy

The sources of funds used to buy Bitcoin in the past week were on the market (ATM) stock sale is part of MicroStrategy’s previously announced “21/21” strategy. Plan 21/21 is the company’s strategy to raise $42 billion by selling new shares and fixed-income securities to buy more Bitcoin.

MicroStrategy also reported a year-to-date “Bitcoin return” of 74.1% in Monday’s filing. This metric measures the growth in the number of Bitcoins MicroStrategy owns per share.