MicroStrategy Inc. said it raised an additional $584 million from a stock sale, part of its long-term plan to buy $42 billion worth of bitcoin over three years. Its holdings have reached $20.5 billion since the end of the third quarter.
Although the company has temporarily halted its weekly Bitcoin purchases, it continues its strategy as a direct bet on Bitcoin.
Although the company’s stock has risen 36% since its last earnings report, it has lost 29% of its value from its peak in November. The company also reported a loss of $670.8 million in the last quarter, beating analysts’ expectations.
