MicroStrategy, now rebranded as Strategy, has expanded its Bitcoin holdings again. Between April 14 and April 20, the firm acquired 6,556 BTC, spending $555.80 million. The average price per Bitcoin was $84,785. This latest acquisition brings the company’s total holdings to 538,200 BTC.

This purchase is part of MicroStrategy’s ongoing increase in Bitcoin exposure. The company, led by Michael Saylor, remains the largest institutional Bitcoin holder globally. Strategy has stated that it will continue to acquire more Bitcoin using funds raised from stock sales.

Strategy Adds 6,556 BTC to Its Treasury

According to a press release, Strategy’s new Bitcoin acquisition adds to a growing streak of weekly purchases. The company recently acquired 3,459 BTC for $285 million. With the latest purchase, Strategy has invested $36.47 billion in Bitcoin, at an average price of $67,766 per BTC.

The firm reported a Bitcoin yield of 12.1% year-to-date. This suggests that its investment strategy is currently profitable. Strategy has consistently raised funds through convertible note offerings and equity sales to fund these acquisitions.

The company also revealed plans to raise over $20 billion in 2024 to fund further Bitcoin purchases. This plan aligns with its long-term strategy of using BTC as its primary treasury asset.

Institutional Interest in Bitcoin Grows

Apart from MicroStrategy institutions, other business entities are purchasing Bitcoin when market conditions become uncertain. Metaplanet recently invested in 330 BTC, which it purchased at $28.2 million during its acquisition. The company maintains 4,855 BTC, which currently stands at nearly $500 million worth.

For their purchasing actions this year, ANAP Retailer spent $70 million on Bitcoin. The recent price consolidation has not stopped institutions from continuing Bitcoin adoption, according to recent buying activities.

During recent months, corporate entities have become more active in the crypto market. Glassnode data indicates that both institutions and public firms have demonstrated increasing Bitcoin wallet ownership tendencies. The increasing number of corporations investing in Bitcoin demonstrates their trust in Bitcoin as a treasury management asset.

MSTR Stock Rises as Bitcoin Price Recovers

Strategy’s stock (MSTR) has risen nearly 3% following its latest Bitcoin purchase. Nasdaq data showed the stock trading at $325 in pre-market hours. It closed at $317 the previous Friday.

MSTR shares often mirror Bitcoin’s performance. This correlation stems from Strategy’s extensive BTC exposure. Bitcoin price recently rallied to $88,300, pushing MSTR stock upward.

However, analysts are watching closely. Some experts warn that Bitcoin must break above $89,000 to confirm a bullish trend. Kevin Capital, a crypto analyst, advised caution until that level is cleared.

Market Outlook for Strategy and Bitcoin

The company maintains its commitment to buy Bitcoin throughout short-term market fluctuations. The company maintains its large BTC position because it recognizes Bitcoin as the superior store of value. Michael Saylor states that his investment strategy outperforms traditional assets.

Bitcoin market prices consistently respond to changes in broad economic conditions. Strategic decisions regarding interest rates and regulatory policies, together with how well institutions adopt Bitcoin practices, form the essential determinants. Market sentiment changes in reaction to the stablecoin regulations that the Fed currently discusses.

Tanaka Group currently possesses the largest public corporation Bitcoin holdings in the market. The company preserves its position by making routine purchases, which generate capital from fundraising efforts as funding sources. As a result, this strategy positions the firm as a dominant force in the developing crypto economy.