Encrypting "big player" MicroStrategy (MSTR.US) spent a whopping $4.6 billion in one week to buy coins, holding more than $30 billion worth of Bitcoin.

Notice that MicroStrategy recently purchased a record-breaking $4.6 billion worth of Bitcoin, fulfilling their plan announced last month to accelerate the purchase of cryptocurrency using capital markets. According to a filing submitted to the U.S. Securities and Exchange Commission on Monday, the company's corporate strategy includes buying digital assets. The company purchased approximately 51,780 Bitcoins between November 11th and November 17th. Prior to this, they bought over 27,000 Bitcoins between October 31st and November 10th, and conducted two large-scale acquisitions in September. The company currently holds around $30 billion worth of Bitcoin. MicroStrategy has started raising more funds to buy Bitcoin. The company announced on Monday evening that they will issue an additional $1.75 billion of convertible senior notes, due in 2029, with some of the proceeds being used to purchase more tokens. MicroStrategy Accelerates Bitcoin Purchases MicroStrategy co-founder and chairman Michael Saylor decided to invest in Bitcoin in 2020 to hedge against inflation. The company initially used cash for purchases and has since turned to using proceeds from issuing and selling stocks as well as convertible bond sales to leverage its buying power. On October 30th, the company announced hiring banks to help raise $420 million through selling new stocks and fixed income to buy more Bitcoins. The filings show that as of the week ending November 17th, MicroStrategy had sold 13.6 million shares of stock to the market through its so-called "at-the-market" selling plan. These sales are part of a record $21 billion plan that allows the company's bankers to create stocks and sell them on the market. Data shows that the funds raised in the past week alone will become the fourth-largest at-the-market transaction, indicating strong demand for the company's stock. The company is currently the largest institutional holder of Bitcoin, having purchased a total of 331,200 Bitcoins at a total price of around $16.5 billionsignificantly lower than the current value.