According to a recent SEC filing, Strategy increased its total Bitcoin holdings to above 500,000 after purchasing 6,911 BTC for $584 million during the most recent decline.
With the return of exchange-traded fund (ETF) inflows and institutional interest, Michael Saylor’s Strategy has purchased more than $500 million worth of Bitcoin.
The strategy bought 6,911 Bitcoin.
According to a March 24 filing with the US Securities and Exchange Commission (SEC), $88,502 was spent for more than $584 million between March 17 and March 23 at an average price of $84,529 per coin.
The corporation currently owns more than 500,000 Bitcoin after the most recent acquisition, which included 506,137 Bitcoin purchased at an average purchase price of nearly $66,608 per Bitcoin, including fees and expenditures, and an aggregate buying price of almost $33.7 billion.
The milestone follows Strategy’s announcement on March 21 of the price of its most recent tranche of preferred shares, in which co-founder Michael Saylor alluded to an upcoming Bitcoin investment.
The preferred stock had a 10% coupon and was offered for sale for $85 a share. Strategy estimates that the offering, which is due to settle on March 25, 2025, will generate around $711 million in revenue for the business.
Related: Michael Saylor’s Plan to Raise Up to $21B for Additional Bitcoin Purchases
