MicroStrategy Continues to Scale Up its BTC Exposure, Acquiring Another 1895 BTC

Bitcoin proxy Strategy continues to scale up its BTC exposure. The company said Monday it had acquired another 1,895 BTC between April 28 and May 4, boosting its holdings to 555450 BTC, or 2.6% of the total Bitcoin supply.

Key Takeaways:

* MicroStrategy continues to scale up its Bitcoin proxy strategy.

* The company acquired another 1,895 BTC in the week ending May 4, boosting its holdings to 555,450 BTC.

* The purchase was funded through the sales of Strategy’s Class A common stock (MSTR) and Series A preferred stock (STRK).

* This is the fourth straight week that Strategy has added more Bitcoin to its portfolio.

* Bitcoin prices may face more volatility as markets turn their attention to the upcoming FOMC meeting.

MicroStrategy is continuing to scale up its Bitcoin proxy strategy. The company said Monday it had acquired another 1,895 BTC between April 28 and May 4, boosting its holdings to 555,450 BTC, or 2.6% of the total Bitcoin supply.

The purchase was funded through the sales of Strategy’s Class A common stock (MSTR) and Series A preferred stock (STRK). Last week, the company sold 353,825 MSTR shares and 575,392 million STRK shares, generating net proceeds of approximately $180 million.

This is the fourth straight week that Strategy has added more Bitcoin to its portfolio. Last Monday, the firm revealed it had bought $1.4 billion worth of BTC during the week ending April 27.

Bitcoin is currently trading at around $94,000, down 1.5% in the last 24 hours, according to CoinMarketCap. Prices may face more volatility as markets turn their attention to the upcoming FOMC meeting, where the Fed is expected to announce its latest interest rate decision.

While President Trump has repeatedly urged the Federal Reserve to reduce interest rates, the central bank has shown no signs of shifting course. No rate cut is expected at this week’s policy meeting.

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