MicroStrategy Surpasses 500,000 Bitcoin Mark With Latest $584 Million Purchase
MicroStrategy has acquired 6,911 Bitcoin (BTC) for $584 million between March 17 and March 23, according to a March 24 filing with the US Securities and Exchange Commission (SEC). The company purchased the cryptocurrency at an average price of $84,529 per coin.
With this latest acquisition, MicroStrategy now holds more than 500,000 Bitcoin. The company's total holdings stand at 506,137 BTC, acquired at an aggregate purchase price of approximately $33.7 billion. This puts their average purchase price at around $66,608 per Bitcoin, including fees and expenses.
The milestone comes shortly after MicroStrategy co-founder Michael Saylor hinted at an upcoming Bitcoin investment. On March 21, the company announced the pricing of its latest preferred stock offering at $85 per share with a 10% coupon. This offering is expected to generate approximately $711 million in revenue for the company.
This purchase follows MicroStrategy's March 10 announcement of an "ATM Program" to raise up to $21 billion for Bitcoin acquisitions. The program will sell shares of 8% Series A perpetual preferred stock over time, part of the company's broader "21/21 plan" targeting a 15% Bitcoin yield for 2025.
MicroStrategy's latest investment occurs amid growing concerns about a potential global trade war. As the world's largest corporate Bitcoin holder, the company continues to purchase during market dips despite widespread investor fears of a premature bear market.
According to Nicolai Sondergaard, a research analyst at Nansen, global tariff fears will continue to affect markets until at least April 2. Speaking during Cointelegraph's Chainreaction daily X show on March 21, Sondergaard stated: "I'm looking forward to seeing what happens with the tariffs from April 2nd onward. Maybe we'll see some of them dropped, but it depends if all countries can agree."
Risk assets may lack clear direction until these tariff-related concerns are resolved. Resolution might occur between April 2 and July, potentially creating a positive catalyst for the market. US President Donald Trump's reciprocal tariff rates are scheduled to take effect on April 2, despite Treasury Secretary Scott Bessent's earlier comments suggesting a possible delay.
