Bitcoin dropped around 3% in New York on Thursday, trading near $95,420. The dip continued even though MicroStrategy Inc. revealed plans to issue more shares

Bitcoin rose on Thursday after the digital asset’s stockpiler MicroStrategy announced a plan to issue more shares, a move that would allow it to buy even more tokens.

MicroStrategy (NASDAQ:MSTR) wants to kick its Bitcoin (CRYPTO:BTC) buying strategy into hyperdrive, but is doing so at the expense of existing shareholders. It just bought its latest tranche of the cryptocurrency,

Bitcoin's (BTC-USD) holiday momentum came to an abrupt halt just a day after its Christmas rally, even as bitcoin accumulator MicroStrategy (NASDAQ:MSTR) disclosed plans to issue additional shares to buy even more tokens.

Bitcoin declined even with cryptocurrency stockpiler MicroStrategy Inc. planing to issue more shares, a move that would allow it to buy even more tokens. The digital asset was down around 3% at $95,420 as of 7:12 a.

Bitcoin rose as MicroStrategy announced it plans to sell more of its shares to amass new funds and spend more on digital currency. According to a recent Bloomberg report, the world’s largest cryptocurrency was up 0.