MicroStrategy Increases Bitcoin Portfolio by 10.1K BTC and Launches Preferred Stock Sale to Fund Additional Purchases.

MicroStrategy (MSTR) has continued its bitcoin acquisition strategy, bringing its total holdings to 471,107 BTC after purchasing an additional 10,107 BTC in the week ending January 26. This marks the 12th consecutive week of acquisitions for the company. The purchase was made at an average price of $105,596 per bitcoin, which has increased the company’s overall average purchase price to $64,511.

In addition to its continued bitcoin buying spree, the company, led by Executive Chairman Michael Saylor, announced the launch of a $250 million preferred stock offering. The Series A Perpetual Preferred Stock (STRK) will offer an 8% cumulative preferred dividend and is convertible into one-tenth of a Class A common share at a conversion price of $1,000 per share.

Furthermore, MicroStrategy shareholders approved a proposal to increase the number of authorized Class A common shares to 10.3 billion from 330 million. The company also filed a mixed securities shelf registration, which now includes debt securities, preferred stock, warrants, depository shares, and Class A common stock.

This move signifies MicroStrategy’s ongoing commitment to growing its bitcoin reserves, with the new funding potentially facilitating further acquisitions of the cryptocurrency.