MicroStrategy Inc. (MSTR) bought $1.1 billion of Bitcoin (BTC-USD), after announcing plans for the early redemption of convertible notes and approving an increase to amount of authorized common shares.

The Tysons Corner, Virginia-based enterprise software company turned leveraged Bitcoin proxy has bought Bitcoin for 12 consecutive weeks and now owns over 2% of all the tokens that will ever exist. Co-founder and Chairman Michael Saylor has been ramping up purchases of the original cryptocurrency since the election of President Donald Trump, whom Saylor called “The 1st Bitcoin President,” in a post on X.

MicroStrategy purchased 10,107 Bitcoin tokens at an average price of approximately $105,596 from Jan. 21 through Jan. 26, according to a filing with the US Securities and Exchange Commission on Monday. It owns about $47 billion of Bitcoin.

The company has been using at-the-market stock sales and convertible debt offerings to fund Bitcoin purchases with the aim of raising $42 billion of capital through 2027.

Source: FINANCE.YAHOO