Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase

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Michael Saylor’s Strategy has acquired over $500 million worth of Bitcoin ( $80,289.00 ) as institutional interest and exchange-traded fund (ETF) inflows make a comeback.

Strategy acquired 6,911 Bitcoin ( $80,289.00 ) (BTC) for over $584 million between March 17 and March 23 at an average price of $84,529 per coin, according to a March 24 filing with the US Securities and Exchange Commission (SEC).

Following the latest acquisition, the company now holds more than 500,000 Bitcoin ( $80,289.00 ) , with a total of 506,137 Bitcoin ( $80,289.00 ) acquired at an aggregate purchase price of roughly $33.7 billion and an average purchase price of approximately $66,608 per Bitcoin ( $80,289.00 ) , inclusive of fees and expenses.

The milestone comes a day after Strategy co-founder Michael Saylor hinted at an impending Bitcoin ( $80,289.00 ) investment after the company announced the pricing of its latest tranche of preferred stock on March 21.

The preferred stock was sold at $85 per share and featured a 10% coupon. According to Strategy, the offering should bring the company approximately $711 million in revenue.