MicroStrategy (MSTR) has once again ramped up its Bitcoin purchases, adding 4,408 coins last week. This brings the company’s total Bitcoin holdings to 636,505, valued at nearly $70 billion.

The recent purchases were executed for close to $450 million, averaging about $110,981 per coin. These acquisitions were primarily financed through common stock sales, which became necessary after the company’s preferred shares faced low demand.

The strategy to sell common stock has stirred some controversy, as the company previously asserted they would not issue new shares when the stock’s market net asset value (mNAV) dropped below a ratio of 2.5x. Recently, however, the mNAV has declined to around 1.5x, compelling the company to abandon its prior commitment.

Critics argue that this issuance of stock at a minimal premium could dilute the value for existing shareholders.

Currently, MicroStrategy holds Bitcoin valued at nearly $70 billion based on the prevailing price of around $109,400. As a result of the ongoing investments, MSTR shares have seen a slight dip in premarket trading.