MicroStrategy Adds Another Billion in Bitcoin, Will Sell More Shares For Future Buys | Global News Avenue

Microscience (Mstr) shows no signs of slowing down its Bitcoin purchases and has purchased a billion dollars worth of Bitcoin (btcusd) last week.

The company continued to flex its Bitcoin treasury by purchasing 10,107 Bitcoins over the past week for approximately $1.1 billion. This latest acquisition increases the company’s total holdings to 471,107 Bitcoins.

MicroStrategy has been using equity sales and debt issuance to fund its Bitcoin purchases, which is Twelfth consecutive week Such a purchase was announced. The company issued approximately 2.76 million shares to fund last week’s purchases.

This latest move also coincides with shareholder approval to increase the authorized number of Class A common shares to 10.3 billion, with shares of First Class shares increasing to 1 billion. Additionally, the company announced 2,500,000 shares of MicroStrategy Series A stock on Monday.

Although MicroStrategy’s approach to Bitcoin as a treasury asset has inspired other publicly traded companies such as marathon numbers ((Mara) and SemlerScience ((dump), for which it has also invited scrutiny of its debt-heavy strategy to acquire as many assets as possible.

MicroStrategy stock, generally considered Bitcoin proxyDown 4% in recent trading, Bitcoin is down $100,000 amid a broader sell-off in crypto and stock markets.