Strategy now holds over 500,000 bitcoin worth nearly $45 billion

Michael Saylor’s Strategy announced this morning that it has added 6,911 bitcoin to its reserve. With its latest buy, the company’s stash has surpassed half a million bitcoin worth roughly $44.7 billion as of writing.

Strategy’s 506,137 bitcoin is more than double the amount the US government holds (213,246). Bitcoin was on the rebound this morning, passing $88,000 in price for the first time since March 7. Strategy’s stock jumped 8% in early trading.

Alan Orwick, cofounder of Quai Network, said this latest acquisition further cements Strategy’s role as a dominant force in the cryptocurrency ecosystem.

“This move not only reflects surging retail interest in bitcoin, as evidenced by the company’s unwavering commitment to the asset, but also amplifies market confidence in its long-term value,” Orwick said. 

Several other companies are emulating Strategy’s bitcoin strategy, such as Japanese public company Metaplanet, which bought another 150 bitcoin to bring its total to 3,350. This follows the company’s move up into the ranks of the top 10 corporate bitcoin holders last week.

CEO Simon Gerovich posted a “special video message” from Saylor this morning, which the company showed at its annual general meeting.

“Metaplanet and Strategy are on the same mission together to convert the world to a bitcoin standard,” Saylor said in the video.