MicroStrategy has made its eighth consecutive weekly bitcoin purchase, spending around $209 million on 2,138 new bitcoins at an average price of $97,837 per coin. The company now holds a total of 446,400 bitcoins, bringing its year-to-date “bitcoin yield” to 74.1%. This latest round of buying was funded through at-the-market share sales as part of the company’s “21/21” strategy, which aims to raise $42 billion by selling new shares and fixed-income securities to buy more bitcoin. Despite the recent decline in bitcoin prices, MicroStrategy is sticking with its strategy, which has seen significant growth in its bitcoin holdings.
Source: https://www.investopedia.com/microstrategy-expands-bitcoin-holdings-for-8th-straight-week-stock-falls-8767426