Michael Saylor's Strategy now holds over 506,000 Bitcoin

Michael Saylor's company, Strategy, has recently made a significant purchase of Bitcoin. The company bought 6,911 Bitcoin for over $584 million between March 17 and March 23. This brings its total Bitcoin holdings to more than 500,000 coins, worth approximately $33.7 billion. The average price per Bitcoin for this latest purchase was about $84,529. Combined with previous acquisitions, the average price paid for all Bitcoins held by Strategy is around $66,608. This new investment comes shortly after Saylor hinted at future Bitcoin plans when the company announced a new preferred stock offering. The preferred stock was priced at $85 per share and carries a 10% interest rate. It is expected to generate about $711 million for the company, with the deal settling on March 25, 2025. Despite concerns about a potential bear market, Strategy continues to buy Bitcoin. The company has remained active in the market even as fears of a global trade war loom. Analysts suggest that these trade concerns could impact both traditional and digital markets, at least until early April. Nicolai Sondergaard, an analyst, believes that the outcome of tariff discussions starting April 2 will be crucial for the market. He noted that risk assets may struggle to find direction until these issues are resolved. The U.S. is set to enforce new reciprocal tariff rates on April 2, which could have significant implications for the economy.