Bitcoin Development Company MicroStrategy (MSTR) added 55,500 of the largest cryptocurrency for $5.4 billion, bringing its holdings to 386.700 BTC worth nearly $38 billion.

The company paid an average $97,862 per bitcoin in thjs latest purchase, according to a statement Monday morning, and the buys took place over the six days ended yesterday. Overall, its 386,700 bitcoin were acquired for $21.9 billion, or an average price of $56,761. BTC was trading around $97,500 at the time of publication.

The company, which adopted the bitcoin-purchase strategy in 2020, has been in the spotlight in recent weeks due to its continuing large BTC acquisitions a run-up in its share price. A 515% increase this year briefly took it into the top 100 largest U.S. publicly traded companies by market cap.

This purchase comes after MicroStrategy’s last week completed its latest sale of convertible debt, raising $3 billion on the note due 2029 with a 0% coupon and a 55% conversion premium. The conversion premium equates to a share price of about $672.40. The shares are higher are by 3.3% premarket to $436.

The Nasdaq 100 is approaching its annual reranking, the announcement takes place on Dec. 13, with the rebalancing occurring after market close on Dec. 20. MicroStrategy is waiting in the wings to find out if it has been included in the index.

Finance, MSTR, MicroStrategy, BitcoinRead More

You might also be interested in reading Bitcoin Tumbles Below $60K, Ether Under $3K; Correction Not Over, Says Strategist.