Strategy Inc. ($MSTR) continued its aggressive bitcoin acquisition strategy last week, purchasing an additional 3,015 BTC for approximately $204.1 million, or $67,700 per coin. This latest purchase, disclosed in a Monday filing, brings the company’s total holdings to 720,737 BTC, currently valued at over $47 billion. The ongoing accumulation of bitcoin by Strategy, led by Executive Chairman Michael Saylor, underscores the firm’s long-term commitment to the cryptocurrency as a core component of its treasury strategy.
The purchases, made between February 23 and March 1, were funded through the sale of both common and preferred stock, a method Strategy has consistently employed since initiating its bitcoin buying program in 2020. Specifically, the company sold 1,730,563 shares of its Class A common stock, generating roughly $229.9 million in net proceeds, and 71,590 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, STRC, raising approximately $7.1 million. As of March 1, Strategy still has around $7.6 billion in common stock available for issuance under its existing program.
This latest move is part of Strategy’s ambitious “42/42” plan, which aims to secure $84 billion through equity and convertible note offerings by 2027 to further fuel bitcoin acquisitions. The company maintains a range of perpetual preferred stock instruments – including STRK, STRF, and STRD – offering varying dividend structures and risk profiles to attract investors. The firm’s 101st bitcoin purchase since 2020 highlights a consistent, long-term strategy of tying its financial performance to the digital asset’s potential.
Unrealized Losses and Market Context
Whereas Strategy continues to add to its bitcoin holdings, the current market conditions present an unrealized loss on the company’s overall investment. With bitcoin trading around $65,500 on Monday morning, the average cost basis of approximately $75,985 per bitcoin means the company’s position is currently underwater. Despite this, Saylor has repeatedly expressed confidence in the long-term value of bitcoin and the company’s ability to manage its debt obligations, even in the event of further price declines. According to CNBC reporting from February 10, Saylor stated the company would “refinance the debt” if bitcoin were to fall 90% over the next four years.
Strategy’s substantial holdings – representing more than 3.4% of the total 21 million bitcoin supply – solidify its position as the largest publicly traded corporate holder of the cryptocurrency. This significant stake underscores the company’s belief in bitcoin’s potential as a store of value and a hedge against inflation. The company’s strategy is not without scrutiny, yet, as concerns remain about the risks associated with its substantial debt load and reliance on a volatile asset.
Dividend Increase for Preferred Stockholders
In a separate announcement, Strategy’s board approved an increase to the annual dividend rate on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), raising it to 11.5% from 11.25% for monthly periods beginning March 1. The company stated this move is intended to enhance the appeal of the preferred stock to income-focused investors. This marks the seventh consecutive dividend increase for STRC since July 2025, demonstrating Strategy’s commitment to providing returns to its preferred stockholders.
Shares of Strategy, trading on the Nasdaq under the ticker MSTR, were down 1.5% in early trading Monday. This slight decline may reflect the dilution caused by the recent stock offerings used to fund the bitcoin purchases, as well as broader market sentiment surrounding the cryptocurrency. Saylor often signals these purchases in advance via social media, as he did on Sunday, March 1, with an update to the company’s bitcoin acquisition tracker.
Strategy has acquired 3,015 BTC for $204.1M in cash. We now hold 720,737 BTC. https://t.co/9w9z9w9w9w
— Michael Saylor (@saylor) March 1, 2026
The company’s continued investment in bitcoin, despite market fluctuations and unrealized losses, reflects a steadfast belief in the long-term potential of the cryptocurrency. Strategy’s unique approach to corporate treasury management, tying its financial fate to the performance of bitcoin, will continue to be closely watched by investors and the broader financial community.
Strategy is scheduled to report its next quarterly earnings in May, providing an updated view of its financial performance and bitcoin holdings. Investors will be looking for further details on the “42/42” plan and the company’s strategy for navigating the volatile cryptocurrency market.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investing in bitcoin and related companies carries significant risks, and investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
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