Business intelligence firm MicroStrategy purchased approximately 16,130 bitcoins in November worth $608 million at current prices. This accumulates the company's existing holdings to about 174,530 BTC.

According to a regulatory filing on Thursday, MicroStrategy obtained the cryptocurrency for $593.3 million in cash — averaging around $36,785 per coin.

The recent buying spree, adding over 10% to MicroStrategy's flagship crypto position in one month, signals an acceleration from more gradual accumulation tendencies this past summer.

Now boasting well over 170,000 bitcoins bought at approximately $30,252 per unit on average, founder Michael Saylor's company also revealed plans to raise up to $750 million by offering new company stock. The issuance allows MicroStrategy additional room to purchase more bitcoin if market conditions appear favorable.