Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase 💰
Michael Saylor’s Strategy has bolstered its Bitcoin holdings by over $500 million, coinciding with a resurgence in institutional interest and exchange-traded fund inflows. The company acquired 6,911 BTC for $584 million between March 17 and March 23, at an average price of $84,529 per Bitcoin, based on a filing with the US SEC.
As a result of this acquisition, Strategy now holds over 500,000 Bitcoin, with a total of 506,137 Bitcoin purchased for roughly $33.7 billion at an average price of $66,608, inclusive of fees and expenses. This strategic milestone follows co-founder Michael Saylor's hint of further investments.
The company recently completed a preferred stock sale at $85 per share featuring a 10% coupon, which is expected to generate approximately $711 million in revenue.
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