Michael Saylor, the Executive Chairman of MicroStrategy, has announced that his company has purchased an additional 6,911 Bitcoins for approximately $584.1 million, bringing their total holdings to over 506,000 BTC.

The purchase was made at an average price of around $84,529 per Bitcoin. This move reinforces MicroStrategy's commitment to its Bitcoin strategy, which has been in place since 2020.

Saylor has been a vocal advocate for Bitcoin, citing its potential as a store of value and a hedge against inflation. Under his leadership, MicroStrategy has become one of the largest corporate holders of Bitcoin.

Saylor's Twitter post announcing the purchase has sparked excitement among the crypto community, with many seeing it as a bullish sign for Bitcoin's price.