It looks like they are following a pattern, basically because the price has been trending up since they bought their first stash.
I'm an advocate of buying a small amount of bitcoin regularly but being able to HODL what you have bought for multiple months or even multiple years depending on your end game with the budget you set yourself.
So, there are two questions: Is the MicroStrategy strategy of seemingly regular purchases an up-scaled version of what I wrote above? And, if so, what is MicroStrategy's end-game for the coins? (i.e. dump at a given price? Dump on a given date? Or just HODL indefinitely?)
MicroStrategy is employing the same dollar cost average strategy, just on an obviously much larger scale. They convert excess cash to bitcoin on a regular basis, and then have done pretty frequent offering of stock or bonds to raise big chunks of cash to also use to buy bitcoin. As far as their end-game, they say they're using bitcoin as a treasury asset, which implies not holding
indefinitely, as excess balance sheet assets are traditionally used to grow the business or paid out to stockholders in the form of dividends or stock buy backs. MicroStrategy continues not to fit the traditional mold though. I would expect that if bitcoin stopped appreciating in value for a prolonged period of time, this would factor greatly into their future plans. But as long as it slowly pushes new highs and the business doesn't need cash to grow, there's no immediate reason to sell.