Michael Saylor’s Strategy Buys $1.28B in Bitcoin as Holdings Reach 738,731 BTC

09. Mar 2026 Posted by Laurent C. on News

The bitcoin treasury firm Strategy has added nearly $1.3 billion worth of bitcoin to its balance sheet, further cementing its position as the largest corporate holder of the cryptocurrency.

According to a filing with the U.S. Securities and Exchange Commission, the company purchased 17,994 BTC between March 2 and March 8 at an average price of $70,946 per coin. The acquisition totaled roughly $1.28 billion.

Following the latest purchase, Strategy’s total holdings now stand at 738,731 BTC. The stash is valued at about $49 billion at current prices but was acquired for approximately $56 billion overall, including fees and related costs.

Executive chairman Michael Saylor confirmed the figures, noting that the company’s bitcoin was bought at an average price of $75,862 per coin. Despite the large holdings, the portfolio currently reflects around $7 billion in unrealized losses based on market prices.

Funding the Latest Bitcoin Buy

Strategy financed the purchases through proceeds from at-the-market sales of its Class A shares (MSTR) as well as its perpetual preferred stock offering STRC.

The company has multiple capital programs tied to preferred stock products, including STRK, STRC, STRF, and STRD, which collectively provide tens of billions of dollars in potential funding. These initiatives operate alongside Strategy’s broader “42/42” capital plan, which aims to raise $84 billion through equity offerings and convertible notes by 2027 to fund additional bitcoin acquisitions.

Each preferred stock product carries distinct characteristics:

  • STRD: Non-convertible with a 10% non-cumulative dividend and the highest risk-reward profile.

  • STRK: Convertible with an 8% non-cumulative dividend, allowing investors potential equity upside.

  • STRF: Non-convertible with a 10% cumulative dividend, designed as the most conservative option.

  • STRC: Variable-rate cumulative preferred shares that distribute monthly dividends and adjust rates to stay near par value.

A Milestone for Strategy’s Bitcoin Accumulation

Before the official announcement, Saylor hinted at the purchase in his typical Sunday social media update, referencing Strategy’s bitcoin acquisition tracker and writing that “the second century begins”—a nod to the company surpassing 100 separate bitcoin purchases.

The move comes shortly after Strategy disclosed another acquisition of 3,015 BTC for around $204 million at an average price of $67,700, which had brought the company’s total holdings to 720,737 BTC.

Corporate Bitcoin Adoption Continues

Corporate bitcoin adoption continues to expand, with data from Bitcoin Treasuries showing 193 public companies now holding bitcoin as part of their treasury strategy.

After Strategy, some of the largest corporate holders include MARA Holdings, Metaplanet, Riot Platforms, Coinbase, Hut 8, and CleanSpark.

However, the market performance of many bitcoin treasury companies has cooled since their highs in mid-2025. Shares across the sector have fallen sharply as the market cap-to-net asset value (mNAV) ratios for these firms contracted.

Strategy’s own mNAV has dropped significantly and currently sits near 0.99, reflecting the broader decline in premium valuations once associated with bitcoin treasury companies.