MicroStrategy Bolsters Bitcoin Holdings with Largest Weekly Buy

MicroStrategy, a Nasdaq-listed software firm turned Bitcoin holding company, has made its latest weekly purchase of 1,666 BTC. This brings their total holdings to 847,666 BTC, more than any other public company.

The new purchase is about 75% larger than the previous one, which took place last Monday and saw MicroStrategy disclose a buy of 950 BTC worth around $76 million. The company's Bitcoin buying has been inconsistent this year, with four sales totaling 6,916 BTC between June 30 and August 10.

Executive Chairman Michael Saylor hinted at the latest purchase on Sunday with a chart of MicroStrategy's purchases, captioned 'Even more orange'. He posted a similar signal before the previous buy. At today's price of around $83,251 per coin, the 1,666 coins are worth roughly $138.7 million.