Michael Saylor’s Strategy (MSTR) just went even deeper into Bitcoin. The company snapped up another 6,911 BTC last week for around $584 million, according to a March 24 SEC filing. That brings its total stack to a jaw-dropping 506,137 Bitcoin—worth over $44 billion at current prices.
Strategy Hits Major Milestone Using Stock Sale Proceeds
Strategy funded the buy with proceeds from a recent stock sale. It raised $592.6 million by selling nearly 2 million shares of common stock. That fresh capital was quickly deployed into more Bitcoin, with each coin purchased at an average of $84,529.
Saylor hinted at the buy just days earlier, right after Strategy priced its $711 million preferred stock offering. The company has now spent roughly $33.7 billion building its BTC war chest—at an average price of $66,608 per coin.
Bitcoin Rally Lifts MSTR Shares
The market liked the move. Strategy’s stock (MSTR) jumped 4.8% in premarket trading Monday as Bitcoin climbed above $87,000. Other crypto-related names like Coinbase (COIN) and Robinhood (HOOD) also saw gains. Even with global tariff worries hanging over risk assets, Strategy’s bet on Bitcoin just keeps getting bigger.
Is MSTR Stock a Good Buy?
Analysts remain optimistic about MSTR stock, with a Strong Buy consensus rating based on 11 Buys and one Hold. Over the past year, MSTR has increased by more than 70%, and the average MSTR price target of $548.91 implies an upside potential of 69.6% from current levels.
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