Yerevan, Armenia (CoinChapter.com) — MicroStrategy expanded its Bitcoin holdings last week by purchasing 21,550 Bitcoins. According to a regulatory filing on Monday, the company spent $2.1 billion at an average price of $98,783 per Bitcoin. The acquisition was financed through $2.13 billion in on-market equity sales.

The transaction brings MicroStrategy's total bitcoin holdings to 423,650, with a current market value of approximately $42 billion. The company now owns more than 21 million of the world's 2% bitcoins. Executive Chairman Michael Saylor continues to lead the company's cryptocurrency acquisition strategy.

Bitcoin Holdings Grow at Market Milestone

MicroStrategy’s $2.1 billion Bitcoin purchase coincided with Bitcoin’s first-ever breakout above the $100,000 price mark. Activity in the U.S. market played a role in driving this growth, with investor participation being strong.

U.S. spot bitcoin exchange-traded funds (ETFs) also experienced significant inflows during this period. According to Farside Investors, these ETFs received a total of $2.73 billion in new funds last week. This coincided with the timing of MicroStrategy's purchases, which may have contributed to the increase in market activity.

Stock Impact and Remaining ATM Sales Capacity

Despite the size of the acquisition, MicroStrategy's stock fell 1% in pre-market trading on Monday, trading at $395. The decline was in line with a slight decline in the price of Bitcoin, which fell back to $99,000 after briefly breaking above $100,000.

The company’s current ATM equity sale financing still has $9.19 billion left, leaving room for further acquisitions. MicroStrategy’s continued growth in Bitcoin holdings highlights the company’s continued focus on cryptocurrency as a key asset.

Corporate Bitcoin strategy expands further

In a related development, leading Bitcoin mining company Riot Platforms (RIOT) announced plans to raise $500 million via convertible bonds. The funds will primarily be used to acquire more Bitcoin.

MicroStrategy’s Bitcoin holdings now account for a significant portion of the cryptocurrency’s total supply, highlighting the continued trend of corporate adoption of digital assets.