Business intelligence outfit and corporate Bitcoin (BTC) whale MicroStrategy has increased its BTC ownership with the additional purchase announced on Mon.

MicroStrategy CEO Michael Saylor appear the purchase of 5,050 BTC for about $242.9 million at an boilerplate of $48,099 per money.

In a Grade 8-1000 filing with the United States Securities and Exchange Commission published on Monday, MicroStrategy stated that it had added eight,957 BTC to its corporate Bitcoin treasury in Q3 2022.

As previously reported by Cointelegraph, MicroStrategy recently bought 3,907 BTC at the cost of well-nigh $177 million between July ane and Aug. 23.

Following the latest Bitcoin conquering, the company at present holds almost 114,042 BTC caused at an aggregate purchase price of $iii.16 billion. Given the current BTC spot price, the company'south Bitcoin holdings are valued at over $5 billion.

According to the Form 8-Grand document, MicroStrategy'south Bitcoin toll comes downward to virtually $27,713 per BTC, including fees and sundry expenses.

The additional five,050 BTC purchase is all the same another indication of its intention to aggrandize its Bitcoin position. Despite paper losses on its Bitcoin investment in Q2, MicroStrategy has stated its Bitcoin appetite remains unaffected.

Related: Insiders sold MicroStrategy stock after Bitcoin's bull run

Since announcing its maiden BTC purchase back in Baronial 2022, the business organization intelligence visitor has bought more Bitcoin, becoming the largest corporate holder of the largest crypto past market capitalization amid publicly traded firms in the United States.

Saylor has likewise go a prominent Bitcoin proponent, regularly encouraging other U.S. firms to add together BTC to their balance sheets.

Monday'southward purchase announcement comes among a price decline for Bitcoin, with BTC down almost 3% in the last 24-hr trading period.

The full cryptocurrency market capitalization is downwards more 4% as token prices slipped on Monday.