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.

Bitcoin (BTCUSD) has had a tremendous run in 2024, with its price up more than 113% on a year-to-date basis. Still-high inflation and President-elect Donald Trump's support for the cryptocurrency led to the new-age safe-haven asset reaching new heights.

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.

MicroStrategy is at it again, like clockwork, even as market correction deepens. The company just dropped $209 million to scoop up 2,138 more Bitcoins. This is week eight of their nonstop Bitcoin shopping spree.