Software Firm Continues Bitcoin Buying Strategy, Bringing Total Holdings to Over 528,000 BTC

The software firm just announced a new $1.92 billion Bitcoin purchase, marking the third consecutive week it has added to its holdings of the asset.

In a statement on Monday, the company said it purchased about 22,000 Bitcoins at an average price of $87,000 each, bringing its total Bitcoin holdings to 528,185 BTC—equivalent to about $35.6 billion.

The portfolio expansion was supported by a $1.2 billion raise from the sale of common stock and $1.85 million from the issuance of “STRK” preferred stock—a financial product launched in January. The company currently has the ability to issue $20.97 billion worth of preferred stock.

Data from Myriad, the analytics arm of DASTAN, shows that there is a more than 92% chance that the company will continue to buy Bitcoin in the week starting March 24.

Although the company's shares fell more than 3% when the market opened on Monday, falling below $274 on the Nasdaq, they have since recovered to positive territory.

Strategy to Continue Dominating the Bitcoin Market

Over the past year, the company has built a reputation as one of the world's largest holders of Bitcoin. The move is in line with its long-term strategy, with management believing in Bitcoin's growth potential as a store of value.

Despite the volatility, the company has remained committed to Bitcoin. In the past three weeks, the company has spent billions of dollars to buy more BTC, despite a previous pause in purchases in February.

As the cryptocurrency market continues to grow, many investors are closely watching the company’s strategy, especially amid economic tensions and monetary policy in the United States that could impact Bitcoin prices.

Will the company continue to expand its Bitcoin portfolio? If the current trend continues, the answer may soon emerge.