Strategy, the world's first and largest Bitcoin Treasury company, has increased its Bitcoin holdings to over 500,000 following a recent purchase, amid renewed institutional interest and rising exchange-traded fund (ETF) inflows.

According to a March 24th filing with the U.S. Securities and Exchange Commission (SEC), Strategy acquired 6,911 Bitcoin between March 17th and March 23rd for approximately $584 million, at an average price of $84,529 per coin.

This brings the company’s total Bitcoin holdings to 506,137 Bitcoin, accumulated at a combined cost of about $33.7 billion, or an average of $66,608 per Bitcoin, including fees and expenses.

The purchase followed Strategy’s March 21st announcement of a preferred stock offering, priced at $85 per share with a 10% coupon. 

The offering is expected to raise approximately $711 million, with settlement scheduled for March 25th.

Strategy remains the largest publicly traded corporate holder of Bitcoin. The company has continued to add to its position despite market volatility.