MicroStrategy Buys the Dip, Unveiling Another Bitcoin Purchase

The world's largest corporate holder of Bitcoin, Strategy, has unveiled yet another purchase of the digital asset.

World's largest corporate Bitcoin holder, Strategy, formerly MicroStrategy, has revealed yet another purchase of the digital asset.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Strategy purchased 130 BTC for $10.7 million at an average price of $82,981 per Bitcoin, including fees and expenses. The purchase was made between March 10 and March 16.

The latest purchase brings the firm’s total Bitcoin holdings to 499,226 BTC, acquired for $33.1 billion at an average price of $66,360 per Bitcoin. The firm remains shy of the 500,000 BTC milestone, which many anticipated it would hit this week. Still, the firm’s already outsized Bitcoin holdings account for nearly 2.4% of the total 21 million Bitcoin supply.

U.S. government should adopt a similar Bitcoin accumulation strategy to clear its debt and generate capital.

— Michael Saylor (@michael_saylor) March 17, 2024

Strategy funded its most recent Bitcoin purchase by selling 123,000 shares of its preferred stock offering, STRK. The sale is part of the firm’s plan to raise $21 billion to buy Bitcoin by selling 8% of its preferred stock announced on March 10.

Following last week’s sale, the firm still has $20.99 billion worth of STRK available for sale.

Overall, the firm intends to purchase $42 billion worth of the leading digital asset between now and 2027.

Strategy Chairman Michael Saylor has suggested that the U.S. government adopt a similar Bitcoin accumulation strategy, arguing that it would allow it to clear its debt and generate capital.

Strategy’s continued Bitcoin purchases come despite recent uncertainty that has left the market risk-off. The asset has dropped nearly 24% from January 2025 all-time highs of $109,600 to trade around $83,300 at the time of writing.

The post Strategy discloses purchase of 130 BTC for $10.7 million as part of plan to raise $21 billion selling STRK appeared first on Crypto Basic.

.