Strategy, the self-styled Bitcoin treasury company that until recently was known as MicroStrategy, said it acquired $1.99 billion more of the cryptocurrency with the proceeds from last week’s convertible bond sale.

MicroStrategy disclosed in a form filed with the U.S. Securities and Exchange Commission that it had bought more than 20,000 digital tokens after a week without any purchases. The software company said it acquired 20,

At a meeting with regulators, Saylor proposed ways to reduce costs and time constraints on crypto firms, among other regulatory reforms.

Strategy's Michael Saylor had dropped his proposal to the SEC's crypto task force for a digital assets framework that he believes will drive growth and foster innovation in the U.S.

Michael Saylor met with the SEC Crypto Task Force to discuss digital asset regulation, including token classification, compliance frameworks, and the future of Bitcoin.