MicroStrategy, the largest corporate holder of Bitcoin, has increased its cryptocurrency stash for the ninth consecutive week, acquiring an additional 1,070 BTC. This latest purchase, made at an average price of $94,004, brings their total to 447,470 BTC. The company’s shares saw a 13% recovery on Friday after a significant drop from its November high. In a strategic move, MicroStrategy plans to raise up to $2 billion through a preferred stock offering, with the funds earmarked for further Bitcoin acquisitions. The offering, expected in Q1 2025, will feature terms like convertibility to common stock and cash dividends. The company’s stock is currently trading around $353, up 2% in pre-market trading.
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