MicroStrategy (MSTR), the largest corporate holder of bitcoin (BTC), added more to its holdings on Wednesday, buying 14,620 BTC for around $615.7 million.
The company's Executive Chairman, Michael Saylor, tweeted that MicroStrategy bought the bitcoin at an average price of $42,110 per bitcoin.
The recent purchase pushes the company's holdings to 189,150 BTC worth around $5.9 billion, which was bought at an average price of $31,168 per BTC.
MicroStrategy began purchasing bitcoin in August 2020. The company's most recent purchase before Wednesday's took place last month, where it purchased 16,130 BTC, worth around $608 million at the time.
In a separate filing, the company said it had raised $610.1 million from its previously announced at-the-market (ATM) shares offering of $750 million.
The company was sitting on around $2 billion in profit from its bitcoin holdings as of early December.
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This comes as bitcoin price has been climbing over the past few months amid optimism that U.S. regulators could potentially approve exchange-traded funds (ETFs) that hold BTC, a move some experts believe will prompt a flood of investment into the cryptocurrency. Year-to-date, the shares of MicroStrategy is up nearly 315%, while bitcoin rose 200%.