Michael Saylor’s Strategy has acquired over $500 million worth of Bitcoin as institutional interest and exchange-traded fund (ETF) inflows make a comeback.Strategy acquired 6,911 Bitcoin (BTC) for over $584 million between March 17 and March 23 at an average price of $84,529 per coin, according to a March 24 filing with the US Securities and Exchange Commission (SEC). Source: US SECFollowing the latest acquisition, the company now holds more than 500,000 Bitcoin, with a total of 506,137 Bitcoin acquired at an aggregate purchase price of roughly $33.7 billion and an average purchase price of approximately $66,608 per Bitcoin, inclusive of fees and expenses.The milestone comes a day after Strategy co-founder Michael Saylor hinted at an impending Bitcoin investment after the company announced the pricing of its latest tranche of preferred stock on March 21.The preferred stock was sold at $85 per share and featured a 10% coupon. According to Strategy, the offering should bring the company approximately $711 million in revenue.Related: Michael Saylor’s Strategy to raise up to $21B to purchase more Bitcoin
