MicroStrategy unveiled a $561 million Bitcoin purchase Monday, topping off its corporate coffers using stock sale proceeds as the firm’s stock debuted in the Nasdaq 100-index.

Selling 1.3 million shares over the past week, MicroStrategy said it used the proceeds to expand its Bitcoin holdings by 5,200 BTC, according to a SEC filing. 

The self-described Bitcoin development company now sits on a trove of 444,262 BTC, valued at $42 billion as of this writing. Since the Tyson, Virginia-based firm began stacking Bitcoin in 2020, it has become the world’s largest corporate holder of the asset and set a model that many other firms have started following.

Go to Source to See Full Article
Author: André Beganski