MicroStrategy Ends Bitcoin Acquisition
MicroStrategy has reported that it had not made any purchases of Bitcoin in the past week, breaking a pattern of weekly purchases that began in late October.
The company’s buying streak had coincided with a surge in the value of Bitcoin, which was partly attributed to former President Donald Trump’s endorsement of digital assets and his administration’s pro-crypto stance in its early days.
Over the past several months, MicroStrategy has acquired more than $20 billion worth of Bitcoin, bringing its total holdings to around $44.7 billion, or over 2% of the total supply of the cryptocurrency.
The tech company, based in Tysons Corner, Virginia and led by CEO Michael Saylor, has announced plans to raise $42 billion in capital by 2027. Last week, it sold $563 million of perpetual preferred stock and has been raising funds through stock sales and convertible debt offerings.
