Strategy, the world's largest corporate holder of Bitcoin, said Monday it had snapped up another several thousand tokens. But that wasn't enough for the stock to stage a comeback.

In the period from Aug. 18 to Aug. 24, the company formerly known as MicroStrategy bought 3,081 Bitcoins for around $356.9 million, or $115,829 per token, according to a form filed with the U.S. Securities and Exchange Commission.

The latest purchase brought Strategy's total holdings to 632,457 Bitcoins, acquired at an average price of $73,527 each. As of Monday morning, the company's horde was valued at roughly $70.6 billion.

The announcement came amid a continuing slump in the price of Bitcoin, which fell from over $114,000 to around $112,000 in a matter of minutes on Sunday. Preceding the sharp drop was a rally in crypto prices, which was triggered by remarks from Federal Reserve Chair Jerome Powell.

Speaking at Jackson Hole on Friday, Powell indicated that interest-rate cuts could be on the horizon, sparking optimism among Bitcoin investors. Lower rates matter for cryptos as they increase traders' appetite for risk assets such as stocks and digital assets, as opposed to interest-yielding investments such as bonds.

However, the gains were short-lived. News of Strategy's latest buy wasn't enough to boost the stock, which declined 3% to $346.95 on Monday, mirroring the falling price of Bitcoin.

The world's largest cryptocurrency by market capitalization was down 0.8% over the past 24 hours to $111,647, according to CoinDesk data. Shares of cryptocurrency exchanges Coinbase Global and Robinhood Markets were down 2.8% and 1.5%, respectively.

As is customary, Strategy chairman and co-founder Michael Saylor posted on social-media site X to signal the company's impending purchase. "Bitcoin is on Sale," Saylor said on Sunday, accompanied by a graph showing Strategy's latest holdings.