Strategy (formerly known as MicroStrategy), a leading business intelligence and analytics firm, has announced on X purchase of 6,911 Bitcoins

Strategy (formerly known as MicroStrategy), a leading business intelligence and analytics firm, has announced on X purchase of 6,911 Bitcoins for approximately $584.1 million

Strategy (NASDAQ:STRG) on Wednesday announced the purchase of 6,911 bitcoins for approximately $584.1 million at an average price of $84,529.

This recent purchase brings Strategy’s total Bitcoin holdings to 506,137 BTC as of March 23. The company’s total investment in the token now stands at approximately $33.7 billion, with an average acquisition price of $66,608 per BTC.

The company along with this purchase, also reported achieving a year-to-date (YTD) BTC yield of 7.7% in 2025.

Michael Saylor, the founder of Strategy, announced the purchase via X and via a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC).

Strategy Sold Stocks to Buy BTC

According to Investing.com, between March 17 and March 23, Strategy sold approximately 1.975 million shares of its common stock, raising $592.6 million after fees. Additionally, the company has completed a preferred stock offering that raised $711.2 million by selling 8.5 million shares of its Series A Perpetual Strife Preferred Stock at $85 per share.

Bitcoin’s Upward Trajectory

Along with Strategy, Metaplanet (7073:Tokyo), Japan's first and only publicly listed Bitcoin Treasury Company, has also announced purchase of 150 BTC, bringing its total holdings to 3,350 BTC. All these purchases indicates growing institutional confidence in BTC as a valuable asset.

At press time, the price of the BTC token stands at $87,222.21 with a surge of 3.0% in the last 24 hours as per CoinGecko. This surge can be attributed to these purchases as they indicate a strong influx of institutional investments. The total cryptocurrency market capitalization has also risen to $2.96 trillion with a surge of 0.9% in the last 24 hours as per CoinGecko.

Analysts suggest that with these purchases by big names such as Strategy and Metaplanet, other institutional investors usually follow the suit and this would further enhance the demand. Moreover, recent data shows a significant net inflow into Bitcoin spot ETFs, totaling $744.30 million last week. This influx also indicates an increased investment and sustained bullish momentum for the token.

Bitcoin, today, has surpassed the key resistance level of $85,000, and now analysts predict that if the current trend persists, then Bitcoin would soon experience the next barrier at $90,000 mark.