MicroStrategy Keeps Buying Bitcoin. The Stock Is Falling.

MicroStrategy

is at it again—buying

Bitcoin

and making its financial health increasingly aligned with the largest cryptocurrency. For now, the stock is falling in tandem with the digital asset it keeps purchasing.

Founded by Bitcoin bull Michael Saylor—now the group’s chairman—MicroStrategy (ticker: MSTR) is a business intelligence company that has emerged along with

Tesla

(TSLA) as one of the few public companies to buy significant amounts of crypto. Beyond holding digital assets in its corporate treasury, MicroStrategy is also broadening its core business to include crypto software development.