MicroStrategy Stock Jumps On Latest Bitcoin Buy, Capital Raising Plans | Global News Avenue

MicroStrategy stock (Magnetic transmission technology) rose on Monday to become one of the largest corporate holders of Bitcoin (Bitcoin USD) has increased its inventory and plans to raise additional funds for future purchases.

According to a recent regulatory filing, the company purchased 1,070 Bitcoins for $101 million on December 30 and December 31, with an average price per Bitcoin of $94,004.

With Bitcoin prices back above $101,000 on Monday, MicroStrategy currently holds approximately 447,470 Bitcoins, worth approximately $45 billion.

Raise funds to fund future purchases of Bitcoin

On Friday, MicroStrategy unveiled plans to raise up to $2 billion over the next three years and subsequently submitted an acquisition application.

This financing complements 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.

Micro strategy also Join the Nasdaq 100 Index The index in late December, although Concerns about leverage The sustainability of the company’s Bitcoin buying strategy has caused its stock price to fluctuate over the past month.

MicroStrategy shares rose 6% on Monday, and despite recent volatility, are up more than 470% in the past year.