MicroStrategy, a publicly traded software firm founded by Bitcoin maximalist Michael Saylor, has doubled down on the largest cryptocurrency by market cap even as the price of BTC has risen in recent weeks. 

On Monday morning, MicroStrategy announced it purchased roughly 12,000 bitcoins for $821.7 million in cash between Feb. 26, 2024 to March 10, 2024. The cash primarily came from the completion of a private offering of convertible senior notes, according to the firm’s filing with the U.S. Securities and Exchange Commission today. 

The announcement comes two weeks after the software firm’s previous SEC disclosure, which showed MicroStrategy purchased 3,000 bitcoins for $155.4 million in cash between Feb. 15 and Feb. 25. In total, MicroStrategy has acquired almost $1 billion worth of BTC since Feb. 15. 

MicroStrategy’s most recent BTC acquisition is its second-largest purchase since the firm started accumulating the 15-year-old cryptocurrency in 2020. 

“Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” Saylor said in August 2020 — when he was CEO of MicroStrategy — about a $250 million purchase of bitcoin.

The software company, which owns the biggest BTC holding among publicly traded firms, holds in total about 205,000 bitcoins, worth $14.76 billion at current mark-to-market prices. The average price of MicroStrategy’s most recent BTC acquisition stands at around $68,477, while the average price of the software company’s aggregate purchase price is $33,706.

The price of MSTR has increased almost 100% to $1,567 today since its previous BTC acquisition disclosure filing on Feb. 26, when it was $785.25, per Yahoo Finance. In the same time period, the price of BTC has jumped more than 40% to above $72,000, from around $51,000, data from CoinGecko shows

MSTR and BTC are both at all-time highs.