Catenaa, Thursday, March 26, 2026- Strategy Inc., led by Michael Saylor, purchased 1,031 bitcoin for roughly $76.6 million between March 16 and March 22, raising its total holdings to 762,099 BTC, according to an 8‑K filing with the Securities and Exchange Commission. The purchases were funded through At‑The‑Market (ATM) sales of Class A common stock, MSTR, at an average price of $74,326 per coin.
The firm’s overall average acquisition cost now stands at $75,694 per bitcoin, translating to a total investment of about $57.7 billion including fees and expenses. At current market prices, the BTC treasury is valued around $53.1 billion, creating an estimated $4.6 billion in unrealized losses. Strategy continues to hold the largest publicly disclosed corporate bitcoin position, representing approximately 3.5% of bitcoin’s total 21‑million‑coin supply.
Context
The latest purchases relied on proceeds from 509,111 MSTR shares sold under the company’s ATM program, leaving $6.24 billion in remaining ATM capacity. Preferred-equity vehicles such as STRC were largely inactive during this period as dividend distributions stabilized share prices. Analysts note that heavy reliance on equity-linked funding introduces potential sentiment-sensitive risks, but the company’s cash reserves and ongoing ATM capacity mitigate near-term funding pressures.
Saylor’s ongoing weekly bitcoin purchases, dubbed the “Orange March,” saw Strategy acquire 43,346 BTC for roughly $3.05 billion in March alone. The accumulation strategy positions the firm far ahead of other corporate holders. Marathon Digital Holdings, Metaplanet, and Coinbase hold between 15,000 and 35,000 BTC each, highlighting Strategy’s outsized influence on the market.
Expert Views
MSTR shares fell 5.7% last week to $135.66, down roughly 70% from 2025 highs. Bitcoin itself declined about 6.9% over the same period. Strategy’s market-cap-to-net-asset-value ratio sits near 0.93, reflecting a slight discount relative to the market value of its BTC holdings.
The company emphasizes bitcoin as its strategic asset, with the software business now secondary. The treasury’s 762,099 BTC position at $75,694 per coin demonstrates Saylor’s commitment to long-term bitcoin accumulation, with an ultimate target of 1 million BTC.
Background
Founded in 1989 as MicroStrategy, Strategy Inc. transformed under Saylor’s leadership from an enterprise software provider into the world’s largest corporate bitcoin holder. The firm began its treasury accumulation in 2020 and has steadily expanded holdings despite market volatility, maintaining a high-conviction approach to bitcoin as digital property.
