Source: Cointelegraph Original: "{title}"
Update: Coordinated Universal Time March 24, 2025, 1:11 PM: This article has been updated to include the settlement date for Strate's issuance of $711 million in Bitcoin.
With renewed institutional interest and inflows into exchange-traded funds (ETFs), Michael Saylor's Strategy company has acquired over $500 million worth of Bitcoin.
According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on March 24, Strate acquired 6,911 Bitcoin (BTC) at an average price of $84,529 each between March 17 and March 23, totaling over $584 million.
Source: US SEC
Following the recent acquisition, the company now holds over 500,000 Bitcoin, having acquired a total of 506,137 Bitcoin at an aggregate purchase price of approximately $33.7 billion, with an average acquisition price of about $66,608 per Bitcoin, including fees and expenses.
This milestone was reached the day after Strategy co-founder Michael Saylor announced the pricing of the latest batch of preferred shares on March 21, hinting at upcoming Bitcoin investments.
Source: Saylortracker
The preferred shares are being sold at $85 per share, with a coupon rate of 10%. According to Strategy, this issuance is expected to generate approximately $711 million in revenue, with a planned settlement date of March 25, 2025.
Related Report: Michael Saylor's Strategy Company to Raise $21 Billion to Purchase More Bitcoin
The world's largest corporate Bitcoin holder, Strategy, continues to buy Bitcoin despite widespread investor concerns about an early bear market.
The latest investment by Strategy comes amid concerns over a global trade war, with analysts stating that the trade war could pressure both traditional and digital asset markets at least until early April.
Related: BlackRock Increases Stake in Michael Saylor's Strategy Company to 5%
Nicolai Sondergaard, a research analyst at Nansen, believes that despite many positive developments in cryptocurrency, global tariff concerns will continue to pressure the market at least until April 2.
BTC/USD 1-Day Chart. Source: Cointelegraph/TradingView Cointelegraph/TradingView
"I am looking forward to seeing what changes occur with tariffs starting April 2. Perhaps we will see some of these tariffs lifted, but that depends on whether all countries can reach an agreement. This is currently the biggest driver," the analyst said during Cointelegraph's Chainreaction daily X program on March 21.
Cryptocurrency De-Banking Crisis: #CHAINREACTION https://t.co/nD4qkkzKnB
He added that until tariff-related issues are resolved, risk assets may lack direction, which could occur between April 2 and July, potentially bringing positive market catalysts.
U.S. President Donald Trump's reciprocal tariff rates are set to take effect on April 2, although Treasury Secretary Scott Bessenet's earlier comments suggested a possible delay in implementation.
Magazine: BTC over $150,000 is "speculative fever," SAB 121 canceled, etc.: Hodler's Digest, January 19 - 25
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