Cointelegraph by Zoltan Vardai
Update: March 24, 2025, 1:11 pm UTC: This article has been updated to include the settlement date of Strategy’s $711 million offering.
Michael Saylor’s Strategy has acquired over $500 million worth of Bitcoin as institutional interest and exchange-traded fund (ETF) inflows make a comeback.
Strategy acquired 6,911 Bitcoin (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).
Strategy’s SEC filing, March 24. Source: US SEC
Following the latest acquisition, the company now holds more than 500,000 Bitcoin, with a total of 506,137 Bitcoin acquired at an aggregate purchase price of roughly $33.7 billion and an average purchase price of approximately $66,608 per Bitcoin, inclusive of fees and expenses.
The milestone comes a day after Strategy co-founder Michael Saylor hinted at an impending Bitcoin investment after the company announced the pricing of its latest tranche of preferred stock on March 21.
Strategy total Bitcoin holdings, all-time chart. Source: Saylortracker
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 scheduled to settle on March 25, 2025.
Related: Michael Saylor’s Strategy to raise up to $21B to purchase more Bitcoin
Saylor’s Strategy buys the dip despite global tariff concerns
Strategy, the world’s largest corporate Bitcoin holder, continues buying the dips despite widespread investor fears of a premature bear market.
Strategy’s latest investment comes amid global trade war fears, which analysts say could weigh on both traditional and digital asset markets at least through early April.
Related: BlackRock increases stake in Michael Saylor’s Strategy to 5%
Despite a multitude of positive crypto-specific developments, global tariff fears will continue to pressure the markets until at least April 2, according to Nicolai Sondergaard, a research analyst at Nansen.
BTC/USD, 1-day chart. Source: Cointelegraph/TradingView
“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 analyst said during Cointelegraph’s Chainreaction daily X show on March 21.
Risk assets may lack direction until the tariff-related concerns are resolved, which may happen between April 2 and July, presenting a positive market catalyst, he added.
US President Donald Trump’s reciprocal tariff rates are set to take effect on April 2 despite earlier comments from Treasury Secretary Scott Bessent indicating a possible delay in their implementation.
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