Michael Saylor is not slowing down. Strategy disclosed on Monday that it bought another 13,927 BTC last week, spending roughly $1 billion at an average price of $71,902 per coin. The purchase brings total holdings to 780,897 BTC, acquired for a cumulative $59.02 billion at an average cost basis of $75,577.

 

The announcement came just hours after Saylor posted his now-familiar "Think Bigger" message on X alongside the company's orange-dot BTC purchase history chart. For anyone who has followed Strategy closely, the post was less of a hint and more of a countdown. He has used the same signal before every major acquisition since 2020, and this time was no different.

 

Strategy raised $1 billion through sales of its STRC preferred stock product, known internally as Stretch, to finance the buy entirely. The STRC instrument requires only about a 2.05% annual Bitcoin return to cover its dividend obligations. In other words, as long as Bitcoin does not flatline or fall steadily for years on end, the math works in Saylor's favor, at least in theory.

 

Still, the numbers are not exactly comfortable right now. Strategy disclosed $14.46 billion in unrealized losses on its digital assets for the first quarter of 2026 in a recent SEC filing. With Bitcoin trading near $71,000 and the company's average cost sitting above $75,500, the bulk of its position remains underwater. Saylor has not blinked. He declared earlier this month that "Bitcoin has won" and that the traditional four-year halving cycle is essentially dead, replaced by a market now driven primarily by institutional capital flows.

 

The scale of Strategy's accumulation in 2026 is hard to ignore. The company added 89,599 BTC year-to-date through late March, compared to roughly 8,484 BTC for BlackRock's IBIT over the same period. That pace puts Strategy more than 7x ahead of the world's largest asset manager in terms of 2026 Bitcoin accumulation. The gap between the two largest holders has narrowed to around 20,000 BTC, and at the current rate, Strategy could overtake IBIT as the single largest holder before summer.

 

To put the buying pace another way: in March alone, Strategy accumulated 46,233 BTC while the entire global Bitcoin mining network produced approximately 16,200 BTC. A single company absorbed nearly three times the newly minted supply in a single month. That kind of pressure should, theoretically, move markets. But it has not, at least not consistently.

 

The question of why Strategy's purchases fail to push the price higher has become something of a standing puzzle in crypto markets. CoinDesk analysts pointed to a few reasons: Strategy accounts for only about 7% of gross inflows into Bitcoin, meaning its purchases are still relatively small against the total market. More importantly, capital has been leaving the ecosystem. Bitcoin's realized cap saw a $29 billion drawdown since February, and BlackRock's IBIT open interest dropped over $4 billion in the same window. Those outflows have largely swamped the buying pressure Strategy generates.

 

U.S.-listed spot Bitcoin ETFs did manage $1.32 billion in net inflows during March, ending four consecutive months of outflows. But price action stayed flat for the month regardless, reinforcing the point that the link between inflows and price is neither direct nor immediate. Saylor's confident framing of Bitcoin as a new form of permanent institutional capital may be accurate in the long run. Whether it holds up in 2026's choppy macro environment, with geopolitical tensions running high and BTC sitting below his average cost, remains a much harder question to answer.

 

With 780,897 BTC now on its books, Strategy controls approximately 3.7% of Bitcoin's total circulating supply of about 20 million coins. MSTR shares were down roughly 2.5% in pre-market trading on Monday following the disclosure. The stock has become a proxy for leveraged Bitcoin exposure and tends to amplify both the upside and the pain. At the current pace, Strategy could push past 800,000 BTC before the end of April. Saylor, it seems, is just getting started.

 

Image credit: Binance.com

 

 

Strategy, the world's largest public holder of Bitcoin, has deepened its Bitcoin bet, completing its 101st Bitcoin purchase. 

 

According to a filing made to the US Securities and Exchange Commission on Monday of this week, Strategy acquired 3,015 bitcoins for $204.1 million last week.

 

Based on information available on the US SEC website, the average purchase price for this transaction was $67,700 per BTC, below the company's average acquisition price of $75,985. With this latest purchase, Strategy now has total Bitcoin holdings of 720,737 BTC.

 

Image credit: sec.gov

Saylor’s Long-Term Bitcoin Strategy

Michael Saylor, often regarded as the Bitcoin bull, has long been one of the strongest advocates of Bitcoin's long-term value. His belief system was first made public in August 2020 when his company, Strategy, purchased 21,454 Bitcoins for about $250 million. 

 

Rather than continue holding traditional assets in its treasury, Strategy announced it would be making Bitcoin a core part of its treasury reserve. 

 

Regarding this 2020 purchase, Saylor himself said: 

 

"This investment reflects our belief that bitcoin, as the world's most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash." 

 

Since that day, Strategy has steadily accumulated Bitcoin, even during bearish market seasons. 

 

To understand Strategy's stacking strategy, here is an overview of how it has accumulated Bitcoin over the last six years:

 

2020: Acquired 70,470 BTC (started Aug. 11 with the first purchase of 21,454 BTC; reached total holdings of 70,470 by Dec. 21)

2021: Acquired 53,921 BTC (total holdings reached 124,391 BTC by Dec. 30).

2022: Acquired 8,109 BTC (total holdings reached 132,500 BTC by year-end).

2023: Acquired 56,650 BTC (total holdings reached 189,150 BTC by Dec. 26).

2024: Acquired 257,250 BTC (total holdings reached 446,400 BTC by Dec. 30).

2025: Acquired 226,097 BTC (total holdings reached 672,497 BTC by Dec. 29).

2026: Has acquired 48,240 BTC, with total holdings reaching 720,737 BTC.

 

By steadily acquiring Bitcoin through open-market transactions, Strategy has cemented its position as the world's largest public holder of Bitcoin, making these purchases in a way that does not cause any short-term imbalance in the crypto market.

 

 

How the Market Reacted

Upon the announcement of this news, MicroStrategy's common stock (MSTR) experienced an uptick, jumping from $123 last Monday to $129 on Friday, a 4.7% increase. 

The biggest gain for the MSTR stock, however, occurred on Wednesday, when it rose to $135. This increase suggests renewed investor confidence in Saylor's bitcoin purchase strategy. Even in bearish market conditions, Saylor's vision for Bitcoin remains unchanged.

 

Image credit: investing.com

 

Despite experiencing sharper selling pressure in February, with its price falling 14.8% to 15% from its January closing price of $78,621, Bitcoin experienced a slight uptick in its price, rising from $64,000 last Monday to $65,000 by Friday of last week.