The company has increased its Bitcoin portfolio with a $584 million acquisition, raising its treasury to over 506,000 BTC.
The public company specializing in business analytics has secured 6,911 Bitcoin (BTC), pushing its total BTC holdings to more than 500,000 BTC. In a post on X dated March 24, the company’s founder disclosed that the firm purchased the 6,911 BTC for $584.1 million in the previous week.
As indicated in a filing with the U.S. Securities and Exchange Commission, the company acquired the Bitcoin at an average cost of approximately $84,529 each. As of the time of this publication, Bitcoin is trading at $87,500.
Following the latest acquisition, the company has achieved a BTC yield of 7.7% year-to-date, and as of March 23, it possessed 506,137 BTC, which was purchased for over $33.7 billion. Data from Bitcoin Treasuries reveals that the company now controls more than 2.3% of the total circulating BTC supply.
This purchase occurred shortly after the company declared its intention to raise additional funds to facilitate Bitcoin acquisitions, even amidst the recent downturn in the market and ongoing macroeconomic uncertainties.
As previously mentioned, the firm aims to generate $21 billion through its Class A strike preferred stock as it endeavors to enhance its investment portfolio. According to a filing with the SEC, the proceeds from this sale will be utilized for general corporate purposes, potentially including further Bitcoin purchases.