The Bitcoin holdings of Strategy, formerly known as MicroStrategy, recently surpassed 500,000 Bitcoin following its latest stock sales, the company said on Monday. 

After acquiring 6,911 Bitcoin last week, the Tysons, Virginia-based firm said it now holds 506,137 Bitcoin valued at $44.2 billion, according to a press release.

The company said it purchased Bitcoin at an average price of $84,500 per coin, a slightly higher average price than the $83,000 that Strategy paid for 130 Bitcoin a week prior.

Meanwhile, Strategy said that it sold nearly two million shares of its class A common stock, a move that resulted in around $593 million in net proceeds for the firm.

The company’s stock sale was linked to an at-the-market equity offering program unveiled in October, which authorized Strategy to sell up to $21 billion in common shares. On Monday, the firm said it can still sell an additional $3.57 billion in Strategy’s stock through the program.

Separately, Strategy, which pivoted its focus from software to Bitcoin in 2020, said that it had raised $1.1 million by selling “perpetual strike preferred stock.” The Nasdaq-listed product, dubbed Strike (STRK), was unveiled in January and features an 8% cumulative dividend that’s payable in either cash or class A common shares.

Strategy’s stock price dipped to $311.36 when U.S. markets opened, according to Nasdaq. However, the company’s shares quickly recovered and were trading up 7.2% on the day.

The price of STRK, which began trading on Jan. 31, had increased 1.1% to $86.50. Its price peaked around $99 last month but has trended downward over the past month.

Strategy’ co-founder and Executive Chairman Michael Saylor hinted at the company’s latest round of Bitcoin-buying. A chart tracking the company’s Bitcoin purchases with orange dots “needs more orange,” he said on X (formerly known as Twitter) on Sunday.

Strategy spent $19.3 billion on Bitcoin last year, leveraging convertible debt and other financial products to purchase more Bitcoin than it could otherwise, according to Saylor Tracker.

As Bitcoin’s price has swooned amid President Donald Trump’s trade war and economic uncertainty, analysts say it’s become more difficult for Strategy to raise funds cheaply. On Monday, however, the firm indicated it’s still spent $5.3 billion on Bitcoin in the first quarter of this year.

Edited by James Rubin