MicroStrategy Buys $209 Million of Bitcoin as Purchases Lessen

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.

Michael Saylor, co-founder and chairman of the Tysons Corner, Virginia-based firm, has focused on increasing MicroStrategy’s holdings of Bitcoin. This strategy has led the company to a market capitalization of more than $80 billion, helping it to join the Nasdaq 100 Index last week.

MicroStrategy purchased 2,138 Bitcoin tokens at an average price of approximately $97,837 from Dec. 23 through Dec. 29, according to a filing with the US Securities ...