Strategy Added 6,911 Bitcoin to its Treasury to bring Total Holdings Above 500,000 BTC – CryptoMode
Strategy, the Bitcoin-focused company formerly known as MicroStrategy, has added a total of 6,911 BTC to its treasury this month, spending roughly $584.1 million at an average price of $84,529 per coin, according to a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC).
The latest purchase brings the company’s total holdings to 506,137 BTC, worth approximately $44.72 billion at current prices. Strategy’s average cost across all purchases now stands at $66,608 per BTC, according to the firm’s co-founder, Michael Saylor.
The firm’s BTC yield—essentially the performance of its holdings—has reached 7.7% year-to-date as of March 23. That compares favorably with the S&P 500, which has gained just under 5% in the same period and reflects the massive price increases cryptocurrencies experienced over the last few months.
Strategy Benefits From Bitcoin’s Price Rise
Despite plunging by more than 6.3% so far this year, Bitcoin is up around 31% over the last 12-month period and over 220% in the past two years. Overall, the crypto market rebounded over the weekend, with significant altcoins like SUI and XRP experiencing modest gains. According to CoinGecko data, the current market cap is just slightly above the $2.9T mark.
Originally an enterprise software firm, strategy has become best known in recent years for its aggressive BTC accumulation approach, treating the asset as a long-term treasury reserve asset. In doing so, the company has become the most significant corporate holder of the cryptocurrency.
The company is now moving to raise more than $700 million through a new preferred stock offering, pricing 8.5 million shares at $85 each in a bit to raise funds to add more BTC to its balance sheet.
The preferred stock carries a 10% annual dividend on a $100 stated value, paid quarterly in cash. If the company misses a dividend payment, the unpaid amount accumulates interest at one percentage point per quarter, capped at 18%.
Related: SEC Kicks Off Crypto Task Force With Hints at Regulatory Reset
