MicroStrategy shares closed down Wednesday, due to a decline in Bitcoin's price, which dropped 1.73% to $104,313.65.

Rumble Inc. (RUM), a video-sharing platform, revealed that it had purchased its first Bitcoin (BTC) just ahead of Donald Trump’s inauguration event on Jan. 20, noting that “it won’t be the last” Bitcoin purchase for the company.

MicroStrategy—which almost exclusively focuses on securitizing Bitcoin—last year announced a “21/21 Plan” to raise $46 billion to buy even more Bitcoin. The plan would see the firm raise $21 billion via equity, with another $21 billion coming by selling fixed income securities.

Shareholders of MicroStrategy (MSTR) gave the company the go-ahead to boost its number of authorized class A common shares by 30-fold to finance purchases of bitcoin.

MicroStrategy added to its bitcoin stash for the 11th week in a row, as the company's investors get ready to vote on increasing its Class A and preferred stock and enhancing its ability to buy more bitcoin.

In the week ending Jan 19, the company purchased 11,000 BTC for $1.1 billion, taking its total holdings to 461,000 BTC. This latest bitcoin average purchase price was $101,191, increasing MicroStrategy's overall average purchase price to $63,610.

MicroStrategy bought another 11,000 Bitcoin for $1.1 billion ahead of Trump's inauguration. Total holdings are now at 461,000 BTC.

MicroStrategy stock was down in Tuesday morning trading after President Donald Trump’s inaugural address didn’t touch on his plans for Bitcoin. Despite promises of a “golden age” for cryptocurrency on the campaign trail and talk of a strategic Bitcoin reserve,

MicroStrategy, the business intelligence company that’s the world’s largest corporate bitcoin holder, has added to its holdings with another 11,000 BTC purchase. The company announced on January 21 that it had acquired 11,