Today in crypto, Michael Saylor’s Strategy acquired 6,911 Bitcoin for $584 million during the latest dip, pushing its total Bitcoin holdings beyond 500,000, according to a new SEC filing. Bitcoin could be gearing up to return to the $90,000 level after US President Donald Trump signaled plans to ease tariffs, and ARK Invest founder Cathie Wood will give the first lecture of El Salvador’s Cubo AI public education program.
Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchase
Strategy has acquired over $500 million worth of Bitcoin as institutional interest and exchange-traded fund (ETF) inflows make a comeback.
Strategy acquired 6,911 Bitcoin (BTC) for over $584 million between March 17 and March 23 at an average price of $84,529 per coin, according to a March 24 filing with the US Securities and Exchange Commission (SEC).
Strategy’s SEC filing, March 24. Source: US SEC
Following the latest acquisition, the company now holds more than 500,000 Bitcoin, with a total of 506,137 Bitcoin acquired at an aggregate purchase price of roughly $33.7 billion and an average purchase price of approximately $66,608 per Bitcoin, inclusive of fees and expenses.
The milestone comes a day after Strategy co-founder Michael Saylor hinted at an impending Bitcoin investment after the company announced the pricing of its latest tranche of preferred stock on March 21.
Strategy total Bitcoin holdings, all-time chart. Source: Saylortracker
The preferred stock was sold at $85 per share and featured a 10% coupon. According to Strategy, the offering should bring the company approximately $711 million in revenue scheduled to settle on March 25, 2025.
Bitcoin bottom forming as Fed eases, Trump softens on tariffs, says analyst
Bitcoin may have bottomed and could rebound toward $90,000 after US President Donald Trump signaled a willingness to ease tariffs and the Federal Reserve resisted short-term pressure last week, according to 10x Research’s founder Markus Thielen.
“Bitcoin is attempting to form a bottom, supported by Trump’s recent shift toward ‘flexibility’ on the upcoming April 2 reciprocal tariffs, softening his earlier rhetoric,” 1Thielen said in a March 23 report.
Bitcoin’s bottoming formations over the last two years. Source: 10x Research
The Federal Reserve signaled in its March 18-19 meeting that it would also “look past short-term inflationary pressures, laying the groundwork for potential future easing,” Thielen added.
“Powell’s mildly dovish tone suggests that the Fed’s put remains intact, providing further support for a recovery in stock prices.”
10x Research’s Bitcoin reversal indicators have turned bullish as a result, with Bitcoin’s (BTC) 21-day moving average now at $85,200, Thielen noted.
Cathie Wood to give inaugural lecture for El Salvador’s AI public education program
ARK Invest founder Cathie Wood is kicking off El Salvador’s AI education program by giving the inaugural lecture for the public education initiative.
In a March 23 X post, El Salvador’s Bitcoin Office wrote that the program would leverage industry experts to provide university-level artificial intelligence education to students and professionals. The Bitcoin Office added:
“This is the only national education program bringing in top-tier field experts to blow young minds! We are rolling out the red carpet for a powerhouse lineup of heavy hitters — big names with epic achievements.”
Wood previously met with the president of El Salvador, Nayib Bukele, to discuss the future of crypto and AI policy in the Central American country.
Cathie Wood, left, met with El Salvador’s President Nayib Bukele, center, and economist Art Laffer, right, to discuss policy. Source: El Salvador’s Bitcoin Office
Wood said El Salvador could increase gross domestic product (GDP) tenfold over the next five years if the country continues to focus on pro-innovation policies.
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