MicroStrategy continues to add bitcoin to its balance sheet, buying another $5 billion worth of the token last week.

Shares in MicroStrategy, the largest corporate holder of bitcoin, initially jumped and then fell Monday after the software company said it had bought $5.4 billion of the cryptocurrency.

This latest acquisition took place over the past few days, with current holdings now valued at nearly $38 billion.

Bernstein analyst Gautam Chhugani, who boosted his price target on MicroStrategy by $310 to $600 a share in a note published Monday, sees the group as a principal beneficiary. Chhugani estimates MicroStrategy owns around 1.7% of global bitcoin and says could grow to 4% over the next decade in his base-case scenario.

In an 8-K filing Monday morning, MicroStrategy said it purchased about 55,500 bitcoin in its largest buy ever, bringing its total holdings to approximately 386,700 bitcoin. The pu

Concentration of Bitcoin ownership challenges the foundational idea of a decentralized cryptocurrency network.

KEY TAKEAWAYS Shares in MicroStrategy, the largest corporate holder of Bitcoin, are jumping Monday in premarket trading, as the cryptocurrency trades near the $100,000 mark for the first time.MicroStrategy ramped up acquisitions of the token this year—especially following Donald Trump’s November 5 election victory—as investors bet on a

Bernstein analysts predict MicroStrategy will own 4% of the total bitcoin supply by the end of 2033, an amount they expect to be worth about $830 billion.