As the price of Bitcoin hits a new high, the world's largest public Bitcoin holder, MicroStrategy, has once again attracted market attention. The company completed a significant transaction last Sunday, purchasing 6,220 Bitcoins, with a total value of up to $739.8 million.

According to documents released by the U.S. Securities and Exchange Commission (SEC) on Monday, the average purchase price of this batch of Bitcoin was $118,940 per coin. Notably, at the start of trading, the price of Bitcoin had risen to a historic high of $122,000.

This acquisition increases MicroStrategy's Bitcoin holdings to 607,770 coins, with a total investment of approximately $43.6 billion and an average cost of $71,756 per coin. This move further consolidates the company's leading position as an institutional investor in the cryptocurrency space.

However, corresponding to the company's increased holdings in Bitcoin, MicroStrategy's senior management appears to be reducing its holdings in the company's stock. The company's Senior Executive Vice President, Shao Weiming, sold 10,900 shares of MicroStrategy last week, cashing out approximately $4.9 million. This sale closely followed a $25.7 million stock sale the previous week, raising many speculations in the market regarding the company's internal decision-making.

MicroStrategy's series of actions reflects the complexity and uncertainty of the cryptocurrency market. On one hand, the company continues to bet on the long-term growth potential of Bitcoin; on the other hand, the executives' stock sales may suggest a cautious attitude towards the company's short-term outlook.

With the fluctuations in Bitcoin prices and changes in the regulatory environment, MicroStrategy's investment strategy will continue to be closely followed. This event also provides us with an opportunity to reflect on the role of institutional investors in the cryptocurrency market and their potential impact on the overall direction of the industry.