YEREVAN (CoinChapter.com) — Strategy, led by Michael Saylor, purchased 6,911 Bitcoin between March 17 and March 23, based on a new SEC filing published on March 24. The company spent over $584 million during this period.
The average price paid for each Bitcoin was $84,529. This purchase raised Strategy’s total Bitcoin holdings to 506,137 BTC. The company has spent around $33.7 billion overall, with an average cost of $66,608 per Bitcoin, including all fees.
This Bitcoin purchase came shortly after Saylor pointed to possible new investments. He made those comments as Strategy announced a stock sale to raise capital.
Total Bitcoin Holdings Go Past 500,000 BTC
After the latest Bitcoin purchase, Strategy’s Bitcoin holdings crossed the 500,000 BTC level. At current prices, that amount is worth over $44 billion. The company became the first public firm to reach that total.
The SEC filing confirms that the coins were added just before the next round of fundraising. Strategy used proceeds from a preferred stock offering priced at $85 per share, which carries a 10% coupon.
According to the company, the total expected from this raise is about $711 million, with the settlement date set for March 25, 2025.
Preferred Stock Sale Brings in $711 Million
The $711 million in funding came through the sale of preferred stock instead of traditional debt. The sale gave investors a fixed return while giving the company immediate access to capital.
Strategy priced each share at $85 and offered a 10% return. The company stated the funding would support additional Bitcoin purchases, though the filing only confirmed the amount already spent.
This structure has been used by Strategy in past rounds. The timing of this offering came while ETF inflows were returning to the market.
Saylor Signals Move Before Filing Appears
Michael Saylor hinted at a large Bitcoin purchase before the SEC filing became public. On March 21, he mentioned the preferred stock sale and noted that the company was working on a new round of investments.
The average price of Bitcoin during the buying period was around $84,000. Following the purchase, Bitcoin traded near $88,341. The price shift happened alongside broader market volatility and ongoing tariff concerns.
The timing of the purchase matches Saylor’s earlier patterns, where stock sales often precede large Bitcoin buys.
Tariff Concerns Continue to Affect Risk Assets
Ongoing tariff concerns have added pressure on both traditional and digital markets. The next round of tariffs is scheduled to take effect on April 2, based on plans announced by President Donald Trump.
Nicolai Sondergaard, an analyst at Nansen said,
“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. That’s the biggest driver at this moment.”
The tariffs may influence risk assets through early April. The delay or enforcement of these measures could shift market conditions.
BlackRock Raises Stake in Strategy to 5%
BlackRock increased its stake in Strategy to 5%, according to new records. This move came around the same time as the latest Bitcoin purchase and capital raise.
The investment signals growing interest from large financial institutions. BlackRock has also been active in ETF inflows, especially through its iShares Bitcoin Trust product.
The company’s exposure to Strategy connects traditional finance with Bitcoin holdings, a trend that continues across several large asset managers.
