MicroStrategy made another Bitcoin purchase, acquiring 6,911 between March 17 and 23. This development is also significant as the firm, now known as Strategy, has crossed the 500,000 BTC mark and now holds 506,137 BTC.
MicroStrategy Acquires 6,911 BTC For $584M
In a press release, MicroStrategy announced that it had acquired 6,911 Bitcoin for $584.1 million at an average price of $84,529 per BTC and has now achieved a BTC yield of 7.7% year-to-date (YTD).
The software company now holds 506,137 BTC, which it acquired for $33.7 billion at an average price of $66,608 per BTC. Strategy remains the public company with the largest Bitcoin holdings and holds over 2% of BTC’s total supply.
Meanwhile, this latest purchase comes just days after MicroStrategy announced that it had raised $722 million to buy more Bitcoin. The company also plans to raise up to $21 billion to accelerate its Bitcoin Treasury.
This undoubtedly provides a bullish outlook for the Bitcoin price, which broke above $85,000 yesterday following Michael Saylor’s hint at a BTC purchase by his company. The flagship crypto is also surging because of speculations that Donald Trump’s tariffs might not be as serious as earlier feared since they will only target specific sectors.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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