MicroStrategy stock was rising after the company announced that it had purchased some 15,400 bitcoin for about $1.5 billion dollars. In a filing released Monday morning, MicroStrategy said it had purchased the bitcoin for an average price of $95,

MicroStrategy has purchased another 15,400 Bitcoin for $1.5 billion, bringing its total holdings to over 402,000 BTC.

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.

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.

As of Dec. 1, MicroStrategy and its subsidiaries hold 402,100 BTC, worth around $38.4 billion at current market prices, purchased at an aggregate cost of $23.4 billion, or an average of $58,263 per Bitcoin. This means the firm is up by 64% on its Bitcoin investments.

MicroStrategy Inc. bought another $1.5 billion in Bitcoin, the fourth consecutive weekly purchase announced by the crypto hedge fund proxy.

Key Takeaways MicroStrategy purchased another $1.5 billion worth of bitcoin.The company now holds nearly 2% of all the bitcoin that will ever exist.MicroStrategy Chairman Michael Saylor also presented to the Microsoft board regarding the benefits of holding bitcoin last week.