Strategy (formerly known as MicroStrategy) has expanded its massive digital asset portfolio, disclosing the purchase of 3,015 bitcoin for approximately $204.1 million. According to a Form 8-K filing with the Securities and Exchange Commission, the acquisition was made at an average price of $67,700 per bitcoin, including fees and expenses.
The purchase was funded through the company’s at-the-market (ATM) offering program, which included the sale of common stock and its “STRC” perpetual preferred stock. As of March 2, the firm’s total treasury holds 720,737 BTC acquired for an aggregate cost of $54.8 billion, maintaining its position as the largest corporate holder of the asset globally. Despite the aggressive accumulation, the firm’s average cost basis remains at $75,985, implying significant unrealized losses as the market navigates recent price consolidation.
The move comes at a time of divergence among major corporate holders. While MARA Holdings recently updated its policy to allow for the sale of its bitcoin reserves to fund operations, Saylor has remained steadfast in his perpetual accumulation thesis. In a recent interview, Saylor dismissed the idea of selling, suggesting that the company’s capital structure is designed for a decades-long horizon.
“We will not be selling. Instead, I believe we will be buying Bitcoin every quarter forever. We can buy more Bitcoin than they can sell,” Michael Saylor stated, emphasizing the firm’s role as a permanent capital vehicle for the asset.
Market analysts have noted that Strategy is increasingly leaning into preferred shares to fuel its growth. The company recently raised the dividend for its STRC product to 11.50% for March 2026 to attract investors seeking yield with lower volatility than spot bitcoin. This pivot toward “digital credit” instruments marks a new phase in Saylor’s strategy to institutionalize bitcoin holdings while managing the risks of market drawdowns.
Shares of MSTR saw a premarket jump of over 7% on Wednesday as bitcoin prices rebounded toward $71,000, reflecting the stock’s continued status as a high-beta proxy for the underlying cryptocurrency.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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