Michael Saylor’s Strategy, formerly known as MicroStrategy, has added 130 Bitcoin (BTC) to its growing cryptocurrency holdings. The company disclosed that it acquired these assets between March 10 and March 16, at an average purchase price of $82,981 per BTC, for a total expenditure of $10.7 million.
This latest acquisition increases Strategy’s total Bitcoin holdings to 499,226 BTC, reinforcing its position as one of the largest corporate Bitcoin holders.
Michael Saylor’s Strategy Boosts Bitcoin Holdings to 499K With New Buy
According to Strategy’s latest filing with the U.S. Securities and Exchange Commission (SEC), the company funded the Bitcoin acquisition through the sale of its Series A preferred stock. The firm sold 123,000 shares of its 8.00% Series A perpetual strike preferred stock (STRK Shares), generating approximately $10.7 million in net proceeds.
Strategy confirmed that no Class A common stock was sold during the same period. This approach is consistent with the company’s recent financing strategies, allowing it to expand its Bitcoin portfolio without affecting its primary stock structure.
With this latest acquisition, Strategy now holds 499,226 BTC, valued at more than $41.6 billion at current market prices. The company’s average purchase price across all acquisitions stands at $66,360 per BTC, inclusive of fees and expenses.
Michael Saylor, the co-founder and executive chairman of Strategy, remains a strong advocate for Bitcoin as a long-term investment. However, despite Saylor’s BTC move, critics believe that gold will ultimately outperform Bitcoin as a long-term store of value. Schiff warned Saylor that Bitcoin’s decline against gold signals an inherent weakness in its ability to preserve wealth over time.
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