Shares of MicroStrategy Inc. fell Monday after the software company and cryptocurrency play said it sold off more of its common stock to raise the money needed to buy more bitcoin.

Shares of business analytics software company MicroStrategy (NASDAQ:MSTR) fell 7.7% in the morning session after the company sold 592,987 shares for approximately $209 million. The company used the proceeds to acquire approximately 2,

Bitcoin (BTCUSD) and the broader cryptocurrency market. Surging past the $100,000 mark, Bitcoin’s rally was fueled by transformative events that blurred the lines between crypto and the financial mainstream.

Key Takeaways MicroStrategy announced a purchase of around $209 million in bitcoin Monday.The company has now announced new bitcoin purchases for eight consecutive weeks.This latest round of buying has pushed MicroStrategy's total bitcoin holdings to 446,

MicroStrategy Inc. said it bought $209 million of Bitcoin, marking the eighth consecutive week of purchases for the dot-com-era software maker turned leveraged proxy for the original cryptocurrency.

Bitcoin has soared 60% since the election, breaking new highs and reigniting interest in cryptocurrency markets! With a crypto-friendly administration poised to take charge, policies are expected to further boost Bitcoin,