Michael Saylor’s Strategy Boosts Bitcoin Holdings to Over 506,000 BTC with 6,911 New Acquisitions

Strategy has increased its Bitcoin reserves with a $584 million acquisition, raising its treasury to over 506,000 BTC.

The public business analytics firm Strategy (previously MicroStrategy) has secured 6,911 Bitcoin (BTC), elevating its total BTC holdings to more than 500,000 BTC. In a post on X dated March 24, founder Michael Saylor announced that the company purchased 6,911 BTC for $584.1 million in the prior week.

A disclosure filing with the U.S. Securities and Exchange Commission indicates that Strategy acquired this tranche at an average price of approximately $84,529 per BTC. At the time of publication, Bitcoin is trading at $87,500.

This recent acquisition has given Strategy a BTC Yield of 7.7% YTD, with 506,137 BTC acquired for over $33.7 billion as of March 23. According to Bitcoin Treasuries data, Strategy now possesses more than 2.3% of the circulating BTC supply.

The purchase follows Strategy’s announcement to gather additional capital to finance Bitcoin acquisitions, despite a downturn in the market and macroeconomic uncertainties.

As reported earlier by crypto.news, the company intends to raise $21 billion through its class A strike preferred stock to strengthen its investment portfolio. A filing with the SEC states that proceeds from the sale will be utilized for general corporate operations, potentially including further Bitcoin acquisitions.