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Breaking News: BNB Hits Record High Exceeding $900 Following Binance And Franklin Templeton Collaboration
bitcoin

Strategy Acquires 6,911 Bitcoin, Pushing Total BTC Holdings Beyond 500,000

Ash Tiwari
by Ash Tiwari
5 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Strategy – formerly known as MicroStrategy – announced today the addition of 6,911 Bitcoin (BTC) to its cryptocurrency reserves. With this latest purchase, Strategy’s total BTC holdings now stand at 506,137 BTC.

Strategy’s Total Bitcoin Holdings Cross 500,000

Earlier today, Strategy revealed it acquired an additional 6,911 Bitcoin for a total of $584.1 million, at an average price of $84,529 per BTC. Notably, the purchases took place between March 17 and March 25.

Related Reading: Strategy Buys 130 Bitcoin, Now On The Brink Of 500,000 BTC Holdings

This latest acquisition marks a significant milestone for the Michael Saylor-led company, pushing Strategy’s total Bitcoin holdings past the 500,000 BTC mark. The company now controls over 2.3% of Bitcoin’s total fixed supply of 21 million.

As of today, Strategy holds 506,137 Bitcoin, with a total market valuation exceeding $33 billion. The company’s average purchase price stands at $66,608 per BTC. On a year-to-date (YTD) basis, Strategy has achieved a BTC yield of 7.7%.

For the uninitiated, BTC yield refers to the percentage increase in the total value or amount of Bitcoin held by the company year-to-date (YTD), factoring in price appreciation, new acquisitions, or any returns generated from their Bitcoin holdings.

Following today’s announcement, Strategy’s shares (MSTR) surged 7.24%, trading at $326 at the time of writing. On a YTD basis, the stock is up 11.5%.

MSTR
Source: Yahoo! Finance

Where Is BTC Headed?

After weeks of subdued price action, BTC started the week on a strong note. The leading cryptocurrency is up more than 4% in the past 24 hours, trading in the high $80,000s at the time of writing.

However, despite today’s positive momentum, crypto analysts remain cautious. In an X post, crypto analyst Daan Crypto Trades observed that BTC’s price is currently “in the middle of nowhere.”

The analyst suggested that sustained price action above $90,000 could confirm a bullish trend reversal. The analyst added:

My long term bias is still bullish on BTC and I think this correction was pretty normal for a bull cycle. We’ve seen far worse than 30% corrections only to retrace back up afterwards. I would re-evaluate that bias if we’d see sustained closes below $70K without a proper black swan event to get us there.

daan
Source: Daan Crypto Trades on X

Noted crypto analyst Ali Martinez also warned that the recent BTC price surge might have reached a short-term peak. According to Martinez, the TD Sequential indicator now signals potential profit-taking ahead.

td
Source: ali_charts on X
Related Reading: Bitcoin Following ‘Megaphone Pattern’ – Is It Time To Accumulate BTC? Analyst Explains

That said, recent analysis by crypto analyst Master of Crypto suggests that an increase in M2 money supply could reignite BTC’s bullish momentum. At press time, BTC trades at $88,609, up 4.1% in the past 24 hours.

bitcoin
BTC trades at $88,609 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from Yahoo! Finance, X, and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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