Business intelligence company Strategy has purchased an additional $584 million worth of bitcoin, increasing its total holdings to over half a million BTC.

Strategy acquired 6,911 bitcoin between March 17-23 at an average price of $84,529 per coin. This brings the company’s bitcoin reserves to 506,137 BTC purchased at a cost of $33.7 billion.

Strategy has been aggressively accumulating bitcoin since 2020 under the direction of CEO Michael Saylor. The company views bitcoin as a long-term store of value to hedge against inflation and global uncertainty.Funds for this latest bitcoin purchase came from Strategy’s sale of 1.975 million shares of common stock, raising approximately…

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