MicroStrategy extended its weekly Bitcoin buying spree for the seventh consecutive time, cementing its position as the largest Bitcoin holder with assets of approximately $45 billion.

Michael Saylor, CEO, MicroStrategy, Announce The company purchased 5,262 Bitcoin (Bitcoin) for $561 million at an average price of $106,662 before the recent market correction. The Virginia-based software company now holds 444,262 bitcoins, cementing its lead as the largest institutional holder of bitcoin.

With an initial investment of $27.7 billion, MicroStrategy recorded nearly $15 billion in unrealized gains at the time of writing, despite the cryptocurrency market's decline last week.

Responses from skeptics who cited Bitcoin's current price versus MicroStrategy's purchase price flooded Saylor's weekly announcement on X.

the next Falcons From the Federal Reserve, a market-wide correction has Bitcoin trading below $95,000 at press time. Critics, including US stockbroker and economist Peter Schiff, have criticized Saylor's approach, noting that the latest purchase is the company's smallest in seven weeks. Schiff argued that MicroStrategy should focus on buying the dip to maximize shareholder value.

It looks like you are running out of firepower to continue supporting Bitcoin. Additionally, not only is this your smallest purchase, it is the first time the average purchase price has been higher than the market price on the Monday you revealed the purchase.

– Peter Schiff (@PeterSchiff) December 23, 2024

In addition to purchasing Bitcoin, MicroStrategy disclosed in a Form 8-K filing with the Securities and Exchange Commission that it sold approximately 1.32 million shares of MSTR convertible notes, raising more than $7 billion. The money is reportedly earmarked for further Bitcoin acquisitions.

While Saylor announced the smallest purchase in seven weeks, Metaplanet, hailed as Japan's MicroStrategy, unveil Biggest BTC purchase to date. The Tokyo-based company pumped $60.6 million into its Bitcoin treasury.