Michael Saylor's Firm Hits 500,000 BTC Milestone With Recent $584 Million Purchase

CoinMarketCap
25 Mar
Michael Saylor's Firm Hits 500,000 BTC Milestone With Recent $584 Million Purchase

Strategy, formerly known as MicroStrategy, has announced the purchase of an additional 6,911 BTC, bringing its total holdings to 506,137 BTC.

The latest acquisition, valued at approximately $584.1 million, was executed at an average price of $84,529 per Bitcoin between March 17 and March 23, according to an 8-K filing with the Securities and Exchange Commission (SEC). The funds for the recent purchase were primarily sourced from the sale of the company’s Class A common stock (MSTR) and its Series A Perpetual Strife Preferred Stock (STRF).

The STRF offering, which was recently upsized from $500 million to $722.5 million, is part of a broader initiative to raise up to $21 billion through its perpetual strike preferred stock (STRK). As of March 23, approximately $20.99 billion in STRK shares remain available for issuance.

Strategy's total Bitcoin holdings are now worth over $44 billion, reflecting a significant investment strategy in crypto.

The company's average purchase price for its total Bitcoin holdings is $66,608 per Bitcoin, amounting to a total expenditure of around $33.7 billion, including fees and expenses.

This latest purchase follows a previous acquisition of 130 BTC for about $10.7 million, completed between March 10 and March 16, which had brought its holdings to 499,226 BTC. The firm’s market capitalization stands at $79.2 billion, though it trades at a notable premium to its net asset value.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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