Bitwise said Bitcoin buying by companies like MicroStrategy is an "overlooked megatrend." Find out how it could impact the market.

Shares of MicroStrategy Inc. slumped again on Monday, after the software company and cryptocurrency play disclosed that it resumed bitcoin purchases at prices well above current levels. The company continued to lean on shareholders to fund the purchases, as it used the $243 million raised through the sale of common stock.

A growing number of public companies are stacking up Bitcoin as the asset becomes more valuable, emulating MicroStrategy's model.

Key Takeaways Bitcoin briefly dropped below $90,000 early Monday, for the first time since November after a wild week of trading.Concerns around the Federal Reserve pulling back on rate cuts due to recent economic data may have made bitcoin investors nervous.

MicroStrategy has purchased 2,530 BTC for $243 million, increasing its Bitcoin holdings to 450,000 BTC. Semler Scientific has also acquired 237 BTC, bringing its total

MicroStrategy just added $243 million worth of Bitcoin to its corporate treasury, which is currently worth more than $41 billion.

MicroStrategy, the business intelligence firm known for its aggressive Bitcoin acquisition strategy, has added another 2,530 BTC to its reserves. According to an 8-K filing with the Securities and Exchange Commission on Monday,

The price of bitcoin (BTC-USD) may be slumping on Monday, but Wall Street firm Cantor sees plenty of room for MicroStrategy's (NASDAQ:MSTR) stock to run higher as the business software company continues to stash more bitcoin on its balance sheet.

Shares of MicroStrategy Inc. (MSTR) fell in pre-market trading on Monday after Bitcoin (BTC) prices continued to slide in the run-up to President-elect Donald Trump’s inauguration scheduled for Jan. 20.