Saylor’s Strategy Crosses 500K BTC Milestone With $584M Dip Buy

Preferred Stock Boost Fuels Historic Accumulation Amid Tariff Jitters

Michael Saylor’s Bitcoin strategy has officially crossed a historic threshold, becoming the first corporate treasury to surpass 500,000 BTC on its balance sheet. 

Strategy, the firm led by Saylor, disclosed in a March 24 filing with the U.S. Securities and Exchange Commission that it had purchased 6,911 Bitcoin between March 17 and March 23, spending approximately $584 million at an average price of $84,529 per coin. This latest buy brings Strategy’s total holdings to 506,137 BTC, acquired at a cumulative cost of around $33.7 billion, with an average purchase price of $66,632 per Bitcoin including fees and expenses.

The landmark acquisition comes on the heels of a $711 million preferred stock offering priced at $85 per share and yielding a 10% coupon, finalized on March 21. The deal is set to settle on March 25 and has already provided the firm with liquidity to deepen its Bitcoin exposure. Just a day prior to the SEC filing, Saylor had hinted at another strategic purchase, signaling confidence in Bitcoin’s near-term trajectory despite mounting macroeconomic uncertainty. The timing of the move aligns with a market-wide pullback, which Saylor seemingly viewed as an opportunity.

This aggressive accumulation plays out against a backdrop of growing geopolitical and economic headwinds. Global investors remain cautious amid looming trade tensions sparked by U.S. President Donald Trump’s renewed tariff plans, which are scheduled to go into effect on April 2. Although Treasury Secretary Scott Bessent previously suggested a potential delay, markets have yet to receive clear guidance. As a result, analysts expect risk assets, including cryptocurrencies, to experience limited directional momentum until the tariff situation reaches resolution.

Despite the noise, institutional interest in Bitcoin has reaccelerated, boosted by strong inflows into spot ETFs. Strategy’s latest purchase reinforces its positioning as the dominant corporate player in the digital asset space. Saylor, who is a strong believer of Bitcoin, is doubling down even as uncertainty clouds short-term market sentiment. Nicolai Sondergaard, research analyst at Nansen, noted that while crypto fundamentals remain strong, the tariff-driven anxiety will likely cap risk appetite until at least early April, with any clarity on trade policy acting as a potential market catalyst heading into the summer.

This article has been refined and enhanced by ChatGPT.