Strategy continues to enlarge its bitcoin assets, acquiring 6,911 BTC worth $584 million. This reflects the unchanged strategy of its founder, Michael Saylor.
New Bitcoin Investments
Between March 17 and 23, Strategy acquired 6,911 bitcoins, spending $584 million. The average price per coin in this round was $84,529. The company's total bitcoin holdings now exceed 506,000 BTC, which is more than 2% of the world's total bitcoin supply. These investments coincided with raising approximately $593 million through the sale of MSTR shares and the new STRK preferred shares.
Impact of Global Trade Tensions
This major Bitcoin buy occurred amidst global trade instability. Investors are worried about tariff hikes related to former President Donald Trump's policies. Analysts expect tensions might ease by mid-year. However, Strategy continues its market entry strategy despite these concerns.
Impact on MSTR Stock
MSTR shares rose by more than 4% in pre-market trading after the news of the bitcoin purchase. The company's strategy of buying bitcoins sustains shareholder interest and market price growth.
Strategy, under Michael Saylor's leadership, continues to actively acquire bitcoins despite global market challenges, strengthening its position as a leading institutional player in the cryptocurrency market.
