Michael Saylor’s MicroStrategy won an additional 9,245 BTC.

MicroStrategy continues to expand its Bitcoin holdings, today announcing the purchase of approximately 9,245 Bitcoins for approximately $623 million in cash.

According to a new press release from the company, the company acquired Bitcoin between March 11 and 18 using proceeds from a recent convertible senior note issuance and excess company cash. The average purchase price was approximately $67,382 per Bitcoin.

The acquisition comes shortly after MicroStrategy raised $603.75 million through a private offering of 0.875% convertible senior notes due 2031. The company expanded its planned public offering from $500 million after seeing strong demand.

With the new 9,245 BTC purchase, MicroStrategy now holds a total of approximately 214,246 Bitcoins, acquired at an average price of $35,160 per Bitcoin. The company spent $7.53 billion to accumulate Bitcoin reserves.

Led by CEO Michael Saylor, MicroStrategy continues to aggressively execute its Bitcoin strategy amid Bitcoin market volatility.

The company aims to hold Bitcoin as its primary corporate treasury asset and raise funds for further accumulation by taking on debt and issuing shares. MicroStrategy currently owns over 1% of the total supply of Bitcoin.

Skeptics argue that Bitcoin-collateralized lending poses balance sheet risk, but Saylor remains firm about Bitcoin’s long-term trajectory. MicroStrategy is doubling down on its Bitcoin play by enabling recent purchases through large note offerings.