‘The Orange March Continues’: Michael Saylor’s Strategy buys 1,031 bitcoin for $77 million as holdings hit 762,099 BTC
MicroStrategy acquired 1,031 BTC for $76.6 million, increasing its total holdings to 762,099 BTC, despite market volatility and losses.Summary
MicroStrategy (MSTR) continues its bitcoin acquisition strategy, purchasing an additional 1,031 BTC for approximately $76.6 million between March 16 and March 22. This brings the company’s total bitcoin holdings to 762,099 BTC, valued at around $53.1 billion, acquired at an average price of $75,694 per bitcoin. The purchases were funded by sales of its Class A common stock. While representing over 3.5% of Bitcoin’s total supply, the position currently carries approximately $4.6 billion in unrealized losses. Analysts at K33 caution that MicroStrategy’s reliance on preferred stock sales for bitcoin purchases introduces sentiment-driven risks, particularly in a market downturn. Despite recent stock declines and broader market volatility, MicroStrategy, led by Michael Saylor, remains committed to its long-term bitcoin strategy, dubbed ‘The Orange March.’
(Source：The Block)