Even amid market uncertainty, Michael Saylor’s software intelligence firm Strategy is resolutely pursuing its $42 billion Bitcoin acquisition target.
The Tysons, Virginia-based firm — formerly known as MicroStrategy — said on Monday that it added more BTC to its balance sheet last week.
Strategy’s Bitcoin Stash Crosses 531,000 BTC
After scooping up around 3,459 Bitcoin between April 7 and 13 for $285.8 million at an average price of $82,618 per coin, according to a press release.
The Bitcoin-buying behemoth now holds a whopping 531,644 BTC, worth over $45 billion at current prices. That’s equivalent to over 2.5% of Bitcoin’s total supply of 21 million coins, making Strategy the world’s largest corporate holder of the alpha cryptocurrency.
The $285 million BTC buy marks Strategy’s first Bitcoin investment since March 31, when the company bought $1.9 billion worth of Bitcoin, ZyCrypto reported. The latest purchases were made using proceeds from the sale of its class A common stock.
Last week, Strategy, which has shifted its focus from software development to become a Bitcoin treasury, sold 959,712 MSTR shares for roughly $286 million. Under that program, Strategy said it can still issue an additional $2.08 billion worth of MSTR shares, alongside some of the preferred perpetual stock.
Strategy’s continued buying spree comes despite a broader pullback in the global markets and decreasing investor appetite for risk assets. The downtrend has been primarily attributed to global trade policy uncertainty after US President Donald Trump announced a new round of sweeping levies. The White House recently confirmed that smartphones and computers, including devices manufactured in China, would be exempted from these tariffs.
“No Tariffs on Orange Dots,” Strategy co-founder and Executive Chairman Michael Saylor said on Twitter (aka X) on Sunday, referencing how Bitcoin buys look on Saylor Tracker.
As of publication time, the price of Bitcoin had nudged back to $84,600, showing a roughly 9.2% increase over the past week, according to CoinGecko.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.