MicroStrategy Buys Bitcoin Again, Stock Falls [Video]

MicroStrategy (MSTR) bought more bitcoin (BTCUSD) in the past week, making it eight weeks in a row that the company has acquired more of the digital currency.

The software company-turned-bitcoin buyer said in a filing with the Securities and Exchange Commission (SEC) Monday that it had spent around $209 million in cash to buy 2,138 bitcoin between Dec. 23 and Dec. 29 at an average price of $97,837. The company now holds 446,400 bitcoin.

Shares of MicroStrategy, which joined the Nasdaq 100 last week, were down more than 6% in recent trading as the price of bitcoin fell. The cryptocurrency was trading at around $92,500 recently, down from highs last week of around $99,000 and an all-time high of $108,000 set two weeks ago.

The bitcoin purchases over the past week were funded through at-the-market(ATM) share sales as part of MicroStrategy’s previously-announced “21/21” strategy. The 21/21 plan is the company’s strategy of raising …