<p>MicroStrategy has continued its bitcoin-buying spree. The Nasdaq-listed enterprise software company announced Tuesday that it has bought an additional 660 bitcoins for around $25 million in cash.</p> <p><a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k-2-1-2022.pdf">The purchase</a> was made between December 30 and January 31 at an average price of around $37,865 per bitcoin, inclusive of fees and expenses.</p> <p>The company now holds a total of 125,051 bitcoins (worth nearly $5 billion at current prices). MicroStrategy's bitcoin bet appears to be paying so far as it acquired these bitcoins at an aggregate purchase price of $3.78 billion and an average purchase price of approximately $30,200 per bitcoin.</p> <p>That's a $1.22 billion gain at current prices, with bitcoin around $38,700.</p> <p>MicroStrategy CFO Phong Le <a href="https://www.theblockcrypto.com/linked/131911/microstrategy-will-continue-to-purchase-bitcoin-this-year-says-cfo">recently said</a> that the company will continue to purchase bitcoin despite recent downturns. But what happens to MicroStrategy if bitcoin crashes at some point in the future? Some observers <a href="https://www.theblockcrypto.com/news%20/117139/microstrategy-bitcoin-bet-what-happens-if-btc-crashes">recently told The Block</a> that if the price of bitcoin were to plunge far enough, MicroStrategy could struggle to pay its over $2 billion debt that it has taken on to purchase its bitcoins.</p>