Strategy has expanded its Bitcoin holdings with a $584 million purchase, bringing its treasury to over 506,000 BTC.
Business analytics public company Strategy (formerly MicroStrategy) has acquired 6,911 Bitcoin (BTC), bringing its total BTC holdings at over 500,000 BTC. In an X post on March 24, Strategy’s founder Michael Saylor revealed that the company bought 6,911 BTC for $584.1 million last week.
According to a disclosure filing with the U.S. Securities and Exchange Commission, Strategy purchased the tranche at an average price of at ~$84,529 per BTC. By publication time, Bitcoin is trading at $87,500.
With the latest purchase, Strategy has achieved BTC Yield of 7.7% YTD and as of March 23 held 506,137 BTC acquired for more than $33.7 billion. Per data from Bitcoin Treasuries, Strategy now holds more than 2.3% of BTC supply in circulation.
The purchase came shortly after Strategy announced plans to raise additional capital to fund Bitcoin purchases despite the recent market downslide and macro uncertainty.
As crypto.news reported earlier, the company plans to raise $21 billion through its class A strike preferred stock as the firm seeks to bolster its investment portfolio. According to a filing with the SEC, Strategy will use proceeds from the sale to fund general corporate operations, which could include more Bitcoin buys.
