MicroStrategy announced on August 11, 2020, its first bitcoin purchase where it bought 21,454 bitcoins for $250 million or an average of $11,653. Over the past four plus years it has bought a total of 444,262 bitcoins for about $27.7 billion or $62,257 each.

MicroStrategy stock was down 7.4% to $305.23 in early trading. Shares of MicroStrategy, the world’s largest corporate holder of Bitcoin, are closely linked to the price of the currency. The price of Bitcoin is down about 2% in the past week,

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.