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MicroStrategy Buys More Bitcoin While Adding Capital Raising Tools

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MicroStrategy Inc. bought Bitcoin for a 12th consecutive week and unveiled details for the sale of perpetual preferred stock to help finance additional purchases of the cryptocurrency.
MicroStrategy Inc., a business intelligence firm, has continued its aggressive acquisition of Bitcoin, purchasing an additional 850 bitcoins for $37.2 million, bringing its total holdings to 190,000 bitcoins. This move was announced alongside the company's decision to enhance its capital-raising capabilities by adopting a new "at-the-market" (ATM) equity program. This program allows MicroStrategy to sell shares directly into the market, providing a flexible method to raise capital which could be used for further Bitcoin investments or other corporate purposes. The company's strategy reflects a strong belief in Bitcoin as a valuable asset for long-term investment, despite the cryptocurrency's volatile nature.

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