MicroStrategy (MSTR) announced the purchase of 21,021 Bitcoin at an average price of $117,256 per coin, for a total investment of $2.4 billion.

This acquisition was funded by the sale of nearly $2.5 billion of a new preferred stock series (STRC), also known as "stretch", paying a 9% dividend. The sale far surpassed the company's initial $500 million goal.

As a result, MicroStrategy now holds 628,791 BTC, worth nearly $74 billion based on current market values. STRC is scheduled to commence trading on Nasdaq on Wednesday.