It now holds 446,400 Bitcoins in total, worth about $41.4 billion based on Monday’s price of $92,678 per coin.MicroStrategy stock was down 7.2% to $306.24 in late morning trading.Shares of MicroStrategy,

MicroStrategy bought about $209 million of bitcoin in the past week, making it eight weeks in a row that the company has acquired more of the digital currency.

Shares of MicroStrategy now sit firmly on their $300 price tag, which should also be considered significant as a round number. A break below $300 will increase selling pressure on the stock, targeting a retracement to $250, an 18% decline.

MicroStrategy Inc. said it bought $209 million of Bitcoin, marking the eighth consecutive week of purchases for the dot-com-era software maker turned leveraged proxy for the original cryptocurrency.

Microstrategy today announced the purchase of an additional $209 million worth of Bitcoin, its eighth consecutive weekly buy.

Bitcoin (BTCUSD) has had a tremendous run in 2024, with its price up more than 113% on a year-to-date basis. Still-high inflation and President-elect Donald Trump's support for the cryptocurrency led to the new-age safe-haven asset reaching new heights.