Michael Saylor’s Strategy said it bought $10.7 million of Bitcoin, a week after unveiling plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency.

The enterprise software company turned leveraged Bitcoin proxy controlled by co-founder and chairman Saylor has been buying Bitcoin on a frequent basis since late October. The former MicroStrategy purchased 130 Bitcoin at an average price of approximately $82,981 from March 10 through March 16, according to a filing with the US Securities and Exchange Commission on Monday. It now hold about $41.6 billion of Bitcoin.

The preferred stock sale would add a lever for the company as it seeks to secure $42 billion over the next few years by selling securities to buy Bitcoin — with an increasing focus on its ability to sell fixed-income securities after flooding the market with common shares.

The company later shifted to using equity and share sales to fund the purchases. Strategy unveiled in October to plan to raise $42 billion of capital through 2027 to fund Bitcoin purchases using at-the-market stock sales and fixed-income securities.

Shares of Strategy have surged about 2,300% since Saylor began investing the company’s cash into Bitcoin as a hedge against inflation in 2020. Bitcoin is up over 600% during the same period.

Hedge funds have been driving some of the demand for the convertible debt that’s been doled out in public offerings, as they seek out Strategy for trades that incorporate buying the bonds and selling the shares short, essentially betting on the underlying stock’s volatility.

Strategy shares are up about 2.7% so far this year, while Bitcoin is down about 11%.