Saylor hinted at buying more Bitcoin despite already owning over 500,000 BTC.

Michael Saylor, CEO of Strategy, has just hinted at an upcoming Bitcoin purchase after a recent transaction pushed the company’s total holdings above 500,000 BTC.

Michael Saylor – CEO of StrategyOn March 30, Saylor shared the Bitcoin portfolio tracker of Strategy on X with the caption: “Need more orange”, implying that the company remains committed to expanding its Bitcoin reserves.

These posts often appear before announcements about new Bitcoin purchases within a week thereafter.

On Monday, Strategy announced that it had added 6,911 BTC, worth approximately 584 million dollars, to its reserves. This transaction was made at an average price of 84,529 dollars per Bitcoin during the period from March 17 to March 23.

With this new purchase transaction, the Nasdaq-listed company has raised its total Bitcoin holdings to 506,137 BTC, worth over 42 billion dollars at current market prices, becoming the first public company to surpass the 500,000 BTC milestone.

The strategy purchased Bitcoin at an average price of $66,608, with a total cost of approximately $33.7 billion, including fees and other expenses, according to data from SaylorTracker.

Despite the recent volatility in Bitcoin prices, the company is still holding $8.3 billion in unrealized profits.

Source: SaylorTrackerBitcoin is currently trading at $83,067, recovering slightly after dropping to $82,100 on Saturday, according to data from TradingView.

Strategy offering perpetual preferred shares STRF

On March 21, Strategy announced the price of the Series A Strife perpetual preferred stock offering at 10% (STRF).

The company has increased its stock offering size from $500 million to $722.5 million, aiming to raise approximately $711 million in net income to fund upcoming Bitcoin purchases and support the company’s operations.

The planned offering is expected to be settled on March 25, subject to normal closing conditions. This is part of the company’s “21/21” plan, aiming to raise a total of 42 billion dollars to purchase Bitcoin.

The previous strategy used a portion of the net income from the STRK and MSTR stock offerings to fund its Bitcoin plan.

At the beginning of this month, the company sold 13,100 STRK shares worth approximately 1.1 million dollars and still has 20.99 billion STRK shares to issue and sell under this program.

MSTR stock of Strategy dropped nearly 11% on Friday, down to $289. Although this stock has increased by about 70% over the past year, its performance so far this year remains negative.

Source: Yahoo FinanceDisclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions

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Dinh Dinh

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