Michael Saylor’s company, Strategy, formerly known as MicroStrategy, has expanded its Bitcoin (BTC) holdings once again. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the firm acquired an additional 130 BTC between March 10 and March 16 at an average price of $82,981 per BTC, totaling $10.7 million.
This purchase brings Strategy’s total Bitcoin holdings to an impressive 499,226 BTC, reinforcing its position as one of the largest corporate Bitcoin holders. The firm funded the acquisition through the sale of 123,000 shares of its 8.00% Series A perpetual preferred stock (STRK Shares), generating approximately $10.7 million. Notably, no Class A common stock was sold, ensuring the company’s primary stock structure remained intact.
Bitcoin’s Market Trends and Volatility
Despite Strategy’s continued Bitcoin accumulation, the cryptocurrency’s price has seen notable fluctuations in recent weeks. BTC briefly dipped below $80,000 but has shown signs of recovery. As of this writing, Bitcoin is trading 0.5% higher on the daily chart and has gained 1.1% over the past week, though it remains down 15% in the past month.
Market analysts attribute this volatility to macroeconomic concerns, including trade policies and potential interest rate changes by the U.S. Federal Reserve. Meanwhile, Bitcoin whales appear to be capitalizing on market momentum, potentially driving prices higher and intensifying volatility.
Strategy’s Stock Performance and Investor Sentiment
Strategy’s stock has mirrored Bitcoin’s overall movement, closing at around $297 on Friday—a 13% increase. Over the past year, Strategy’s stock price has surged more than 100%, reflecting investor confidence in its Bitcoin-centric strategy. However, pre-market trading showed slight declines, indicating investor caution amid Bitcoin’s price fluctuations.
Bitcoin vs. Gold: The Debate Continues
Despite Saylor’s unwavering belief in Bitcoin as a long-term investment, critics like Peter Schiff argue that gold will ultimately outperform BTC as a store of value. Schiff recently warned that Bitcoin’s decline against gold signals inherent weaknesses in its wealth preservation capabilities.
Also Read: Bitcoin Whales Dump $4.5B: Selling Pressure Signals Bearish Trend
With ongoing market volatility and shifting investor sentiment, Strategy’s bold Bitcoin strategy remains a focal point for both bullish advocates and skeptical critics.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
