Michael Saylor’s firm, Strategy, has made another large Bitcoin purchase, further establishing its place as the largest corporate owner. Between March 17 and March 23, the company bought 6,911 BTC for a total cost of $584 million at the average rate of $84,529 per BTC. This latest purchase brings Strategy to 506,137 in total bitcoin holdings.
Strategy spent $3.1 billion on fees and costs and another $30.6 billion on Bitcoin for an average buying price of $66,608. The company sold preferred stock and common stock to raise capital to purchase more Bitcoin.
Amid fears of trade tariffs and a global market slump, Strategy continues to accumulate Bitcoin fiercely. The company still believes in the long-term future of crypto, which proves they are a strong institutional buyer of Bitcoin.
As Strategy crosses the half a million mark in BTC holdings, its investing style demonstrates confidence in Bitcoin’s future. This is due to the fact that retail investors and institutions are increasingly gravitating. As the price of Bitcoin changes continuously, all followers are now looking at the next move of Strategy.
