Strategy Increases Holdings to Over Half a Million Bitcoin

According to Strategy's latest Form 8-K submission to the US Securities and Exchange Commission (SEC) this Monday, it acquired 6,911 BTC between March 17 and 23

MicroStrategy (NASDAQ: MSTR) has continued its relentless Bitcoin (BTC) accumulation, adding another 6,911 BTC to its already massive holdings.

As per Strategy’s latest Form 8-K filing with the US Securities and Exchange Commission (SEC) this Monday, it acquired the coins between March 17 and 23.

The company sold portions of Common ATM and the STRK ATM stocks to fund the latest BTC purchase. In total, the coins were valued at $584.1 million, translating to an average purchase price of $84,529 per BTC including transaction fees and other expenses.

The company now holds 506,137 BTC, amounting to over 2.41% of BTC’s total supply or 2.55% of the digital asset’s circulating supply at this rate. So far, Strategy has allotted approximately $33.7 billion for its BTC haul at an average cost of $66,608 per BTC.

Strategy’s announcement immediately resonated in the market, with Bitcoin increasing its movement to the upside from the last 24 hours’ $84K low to a nearly $89K high heading to Monday afternoon. Its significant jump happened around two hours after Strategy Executive Chairman Michael Saylor confirmed the acquisition via social media.

In this case, Strategy sits at over $8.82 billion to $11 billion in unrealized gains from its Bitcoin bet but with no signs of selling any of it in the foreseeable future. With the latest developments, the company has achieved a BTC yield of 7.7% year-to-date (YTD) based on Saylor’s disclosure.

In addition, Strategy’s report catapulted its shares by around 7% at the start of US stock market trading hours to $326 per share.

The Writing on the Wall

Saylor hinted at its impending announcement as early as Sunday. He again posted a cryptic message on X showing the status of his company’s Bitcoin holdings via Saylor Tracker, a website dedicated to monitoring Strategy’s BTC trading activities. The post came with the caption “Needs more Orange,” referring to the symbolic color of Bitcoin.

Strategy’s new Bitcoin purchase heavily dwarfed the 130 BTC it revealed last week. The somewhat minuscule figures compared to what the public has been accustomed to seeing have raised speculations that the company may be scaling down its BTC accumulation strategy. However, the unraveling of its new top-up has once again proven critics wrong.