Strategy, fronted by outspoken Bitcoin bull Michael Saylor, today announced that it had added to its sizable BTC holdings by purchasing an additional 6,911 coins over the past week.
The company, which already holds more Bitcoin than any publicly traded company, has now broken the 500,000 BTC threshold.
Strategy Buys A Further 6,911 BTC
Strategy continues to buy Bitcoin. The self-described Bitcoin development company said Monday that it bought approximately 6,911 Bitcoin for $584.1 million between March 17 and March 23. The orange coins were purchased at an average price of approximately $84,529, the announcement added.
Strategy now holds 506,137 Bitcoin. Today’s price is about $44 billion in the apex cryptocurrency. Bitcoin is now changing hands for $88,267, according to CoinGecko. For perspective, the company now holds at least 2.4% of Bitcoin’s total 21 million supply.
The purchase is the latest in a string of Bitcoin buys dating back to August 2020, when Strategy (formerly known as MicroStrategy) and then-CEO Michael Saylor strategically decided to allocate capital to the top crypto to “maximize long-term value for shareholders.”
Since that time, the Tyson, Virginia-based business intelligence firm has reshaped itself into a Bitcoin development company and pioneered the BTC treasury reserve asset model copied by many TradFi companies, such as Elon Musk’s Tesla and Japanese Metaplanet.
According to the March 24 filing with the U.S. Securities and Exchange Commission, the latest buying spree was funded by proceeds from Strategy’s “Common ATM” and “STRK ATM” programs.
Between March 17 and March 23, Strategy sold 1,975,000 shares of its Class A common stock, generating net proceeds of around $592 million, and 13,100 shares of its 8.00% Series A perpetual strike preferred stock, resulting in more than $1 million in net proceeds.
The new purchase came after the company upsized its recently announced Strife perpetual stock offering to $723 million after having initially priced it at $500 million. The offering aims to fund further Bitcoin acquisitions.
Both the STRF and STRK offerings are part of Strategy’s initial “21/21 plan,” which targets a total capital raise of $42 billion in equity offerings and fixed-income securities to buy more BTC.
Strategy joined the Nasdaq 100 in December 2024 and currently ranks 47 with an index weighting of 0.49%.
