MicroStrategy Buys the Dip, Acquires Another 6,911 BTC to Push Total Holdings Past 500,000 BTC

Michael Saylor, Executive Chairman of Strategy, has hinted at an impending Bitcoin acquisition following a recent purchase that pushed the company's total holdings beyond 500,000 BTC.

Key Takeaways:

* Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), has hinted at a new Bitcoin acquisition.

* Saylor's recent posts on X (formerly Twitter) showcased Strategy's updated Bitcoin portfolio tracker.

* A new Bitcoin purchase is usually announced the week following Saylor's hints and posts about needing ‘more Orange.’

* Strategy recently disclosed a BTC acquisition in the range of 6,911 at an average price of $84,529.

* The purchase, completed between March 17 and 23, brings Strategy’s total Bitcoin holdings to 506,137.

* At current market prices, the company's Bitcoin holdings are valued at over $42 billion.

* Strategy also noted that it paid an aggregate purchase price of $584 million in cash for the coins.

* The company is the first publicly traded firm to cross the 500,000 BTC milestone.

* Strategy is known for its bold strategy of deploying large sums to accumulate Bitcoin, especially during market dips.

* Earlier this month, Strategy announced the pricing of its 10.00% Series A Perpetual Strife Preferred Stock (STRF).

* The company increased the stock offering from $500 million to $722.5 million.

* Strategy aims to raise approximately $711 million in net proceeds from the offering.

* The capital will be used for further Bitcoin acquisitions and general and administrative purposes.

Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy) (NASDAQ:STRM), has hinted at an impending Bitcoin (BTC) acquisition following a recent purchase that pushed the company’s total BTC holdings.

Saylor's Hints at More Bitcoin Buys

The executive, known for his enthusiasm for the flagship cryptocurrency, shared Strategy’s Bitcoin portfolio tracker on X with the caption, “Needs even more Orange,” suggesting that the company is still on the lookout to expand its Bitcoin reserves.

These posts typically precede new Bitcoin acquisition announcements within the following week.

Earlier on Monday, Strategy announced that it had added 6,911 BTC, worth approximately $584 million, to its holdings at an average price of $84,529 per Bitcoin between March 17 and March 23.

With this latest acquisition, the Nasdaq-listed company has increased its Bitcoin holdings to 506,137 BTC, which is valued at over $42 billion at current market prices.

Also Read: Michael Saylor Explains How He Became A Bitcoin Announcer

The company acquired its Bitcoin at an average price of $66,608 per BTC, and the total costs, including fees and expenses, come to approximately $33.7 billion, according to data from SaylorTracker.

Despite recent price fluctuations, the company still holds $8.3 billion in unrealized gains.

Bitcoin is currently being traded at $83,000, showing a slight recovery after dipping to $82,100 on Saturday, according to TradingView.

Strategy’s STRF Perpetual Preferred Stock Offering

On March 21, Strategy announced the pricing of its 10.00% Series A Perpetual Strife Preferred Stock (STRF).

The company also increased the stock offering from $500 million to $722.5 million, aiming to raise approximately $711 million in net proceeds from the offering.

The capital will be used for further Bitcoin acquisitions and general and administrative purposes.