MicroStrategy Buys the Dip, Adding 22,048 Bitcoins (BTC) to Its Holdings

The business intelligence firm turned Bitcoin heavyweight (formerly known as MicroStrategy) has purchased an additional 22,048 Bitcoin (BTC)

Strategy, the business intelligence firm that serves as a Bitcoin (BTC) heavyweight (formerly known as MicroStrategy), has purchased an additional 22,048 Bitcoin (BTC) for approximately $1.9 billion, further solidifying its position as one of the largest corporate holders of the cryptocurrency.

According to a filing with the U.S. Securities and Exchange Commission (SEC) on Monday, the acquisition was made between March 24 and March 30 at an average price of $86,969 per Bitcoin.

This latest purchase brings Strategy’s total Bitcoin holdings to roughly 214,246 BTC, valued at around $43.4 billion, representing about 2.5% of Bitcoin’s total maximum supply of 21 million coins.

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Purchase funded from stock sales

The company funded the purchase using proceeds from its at-the-market (ATM) common stock sales program and its recent convertible debt offering.

Previous acquisition

In December last year, Strategy disclosed that it acquired additional 21,550 BTC worth $2.1 billion USDT from Dec 2 to 8 at an average price of $98,783 USDT per BTC.

Michael Saylor in a recent interview with Yahoo Finance revealed that he would continue buying BTC even if it hits 1 million per coin.

“The Company announced that, during the period between December 2, 2024, and December 8, 2024, the Company acquired approximately 21,550 bitcoins for approximately 2.1 USDT billion in cash, at an average price of approximately 98,783 USDT per bitcoin, inclusive of fees and expenses.

“As of December 8, 2024, the Company, together with its subsidiaries, held an aggregate of approximately 423,650 bitcoins, which were acquired at an aggregate purchase price of approximately 25.6 billion USDT and an average purchase price of approximately 60,324 USDT per bitcoin, inclusive of fees and expenses”, the company stated in its financial statement released in December.

What you should know

The cryptocurrency market experienced a sharp decline last week, shedding over $130 billion in market capitalization as investors braced for the impact of President Donald Trump’s upcoming tariffs.

Dubbed “Liberation Day,” the tariffs are set to take effect this week, targeting goods from overseas.