(Bloomberg) – Strategy, a self-style Bitcoin finance company that was recently called MicroStrategy Inc., has acquired $742.2 million in digital assets over the past seven days, and every week launched in late October I have resumed purchasing.
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Virginia-based Enterprise Software Company has turned leveraged Bitcoin Proxy in 12 weeks of the last 13 weeks, with Tysons Corner, who announced the purchase of cryptocurrency, has turned leveraged Bitcoin Proxy. The strategy currently owns around $47 billion of the original cryptocurrency, or more than 2.5% of all tokens that exist.
According to a filing with the Securities and Exchange Commission on Monday, the strategy purchased 7,633 Bitcoin for around $97,255 at an average price from February 3rd to February 9th. The strategy changed its name last week.
The company aims to raise $42 billion in capital by 2027 to fund Bitcoin purchases using stock sales and fixed income securities in the market. The strategy is almost halfway through this goal as Michael Saylor, chairman of Michael Saylor, has increased offerings and purchases since President Donald Trump’s election.
Hedge funds are driving some of the demand for a convertible arbitrage strategy strategy by purchasing bonds and selling stocks shortly, essentially betting on stock volatility .
“We will continue to pursue intelligent leverage through our convertible bond strategy, through our opportunistic capital market strategy, through our desired equity strategy, to generate leverage and performance for Bitcoin Maxi investors,” he said. , Saylor said in a call with an analyst Wednesday.
The strategy reported a net loss of $670 million on Wednesday in the fourth quarter after registering a $1 billion impairment claim against Bitcoin holdings. The company is expected to be profitable this quarter due to new accounting guidelines due to changes in the fair value of its Bitcoin holdings, as reflected in its income statement.
Strategic stocks have fallen for the third consecutive week, but are still up 13% this year.
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