Michael Saylor's Strategy Acquires 6,911 Bitcoin, Total Holdings Exceed 506,000 BTC

Strategy, formerly MicroStrategy, has significantly expanded its Bitcoin holdings by acquiring an additional 6,911 BTC for approximately $584 million, bringing its total to over 506,000 BTC. This purchase, made at an average price of around $84,529 per coin, positions Strategy as a dominant player in the Bitcoin market, holding over 2% of the global circulating supply. The acquisition was funded through a recent stock sale that raised nearly $593 million, which was part of a broader capital strategy to bolster its Bitcoin treasury. Michael Saylor, the company's founder, emphasized Bitcoin's importance as 'digital property' during a recent conference, highlighting its potential role in shaping the future of cyberspace. Despite market volatility, analysts remain optimistic about Strategy's stock, which has seen substantial gains over the past year. This latest move is part of Strategy's ongoing commitment to accumulate Bitcoin, reflecting its long-term investment strategy in the cryptocurrency space.