MicroStrategy shares experienced a sharp decline on Tuesday in tandem with the downward trajectory of bitcoin prices, as the company continued its acquisition spree of the cryptocurrency.

The stock recorded a 12% decrease by the end of the trading session, having earlier plunged by as much as 18%.

This drop coincided with MicroStrategy’s purchase of an additional 9,245 bitcoins, amounting to approximately $623 million, as disclosed in a filing with the U.S. Securities and Exchange Commission.

Utilizing $592.3 million from the net proceeds of a recent private offering of convertible senior notes and surplus cash, the company executed this latest acquisition, CNBC reported.

Last week, MicroStrategy executed a similar maneuver, acquiring 12,000 bitcoins for nearly $822 million subsequent to a debt sale, at a time when bitcoin was scaling new peaks.

With this latest purchase, the company’s bitcoin holdings now total 214,246, as confirmed by MicroStrategy on Tuesday.

Written by B.C. Begley