Michael Saylor's Strategy Acquires 17,994 Bitcoin for $1.28 Billion, Holdings Reach 738,731 BTC

Strategy, the leading Bitcoin treasury company led by Executive Chairman Michael Saylor, purchased 17,994 Bitcoin for approximately $1.28 billion between March 2 and March 8, 2026, at an average price of $70,946 per coin.

The acquisition increases the company’s total holdings to 738,731 BTC acquired for approximately $56.04 billion, or $75,862 per bitcoin including fees and expenses, representing more than 3.4 percent of Bitcoin’s fixed 21 million supply and currently valued at approximately $50 billion.

Latest Bitcoin Acquisition Details

Transaction Summary

According to a March 9, 2026 Form 8-K filing with the U.S. Securities and Exchange Commission, Strategy acquired 17,994 Bitcoin at an average price of $70,946 per coin, totaling approximately $1.28 billion. The purchases occurred during the week of March 2 through March 8, following the company’s established pattern of weekend acquisitions.

The company now holds 738,731 Bitcoin with a total cost basis of approximately $56.04 billion, including fees and expenses. Based on current Bitcoin prices near $68,000, the holdings are valued at approximately $50 billion, representing mark-to-market losses of roughly $6 billion relative to the average purchase price.

“The Second Century Begins”

Saylor provided his customary Sunday hint at the upcoming acquisition on March 8, sharing an update on Strategy’s Bitcoin acquisition tracker with the message “The second century begins.” The reference indicates that the company has now executed over 100 separate Bitcoin purchase events since initiating its treasury strategy in August 2020.

Financing Sources and Capital Structure

Common Stock Sales

The acquisitions were primarily funded through at-the-market sales of Strategy’s Class A common stock. Last week, the company sold 6,327,541 MSTR shares for approximately $899.5 million. As of March 8, approximately $6.71 billion worth of MSTR shares remain available for issuance and sale under the company’s ATM programs.

Preferred Stock Issuances

Strategy also sold 3,776,205 shares of its STRC perpetual preferred stock for approximately $377.1 million, contributing to the total $1.28 billion raised for the Bitcoin purchase. Following these sales, approximately $3.16 billion worth of STRC shares remain available under the ATM program.

The company maintains multiple perpetual preferred stock offerings with distinct characteristics:

• STRK: Convertible preferred stock with an 8 percent non-cumulative dividend, allowing equity upside participation

• STRC: Variable-rate cumulative preferred stock offering monthly dividends with adjustable rates designed to maintain near-par trading

• STRF: Non-convertible preferred stock with a 10 percent cumulative dividend, representing the most conservative option

• STRD: Non-convertible preferred stock with a 10 percent non-cumulative dividend, offering the highest risk-reward profile

These programs operate alongside the company’s “42/42” plan, which targets a total capital raise of $84 billion through equity offerings and convertible notes for Bitcoin acquisitions through 2027.

Market Context and Industry Positioning

Corporate Treasury Landscape

According to Bitcoin Treasuries data, 193 public companies have adopted some form of bitcoin acquisition model. Following Strategy’s latest purchase, the top 10 corporate Bitcoin holders include:

1. Strategy: 738,731 BTC

2. MARA Holdings: 53,822 BTC

3. Twenty One (Tether-backed): 43,514 BTC

4. Metaplanet: 35,102 BTC

5. Bitcoin Standard Treasury Company (Cantor Fitzgerald-backed): 30,021 BTC

6. Bullish: 24,300 BTC

7. Riot Platforms: 18,005 BTC

8. Coinbase: 15,389 BTC

9. Hut 8: 13,696 BTC

10. CleanSpark: 13,363 BTC

Valuation Metrics

The market capitalization-to-net asset value ratios for many corporate Bitcoin holders have contracted sharply from summer 2025 peaks. Strategy’s mNAV currently sits at approximately 0.99, indicating the company’s equity market capitalization trades at a slight discount to the value of its Bitcoin holdings. The company’s shares have declined approximately 71 percent from their 2025 highs.

Stock Performance

Strategy’s stock (MSTR) gained 3.6 percent overall during the week of March 2-8, 2026, but dropped 4.5 percent on Friday to close at $133.53. In pre-market trading following the Monday filing, MSTR shares were higher by approximately 0.2 percent.

Previous Week’s Acquisition

The latest purchase follows Strategy’s acquisition announced the previous week of 3,015 Bitcoin for approximately $204 million at an average price of $67,700 per coin, which had brought total holdings to 720,737 BTC. The company has now added approximately 21,000 Bitcoin over the two-week period.

FAQ: Strategy Bitcoin Acquisition

Q: How much Bitcoin did Strategy purchase last week and at what price?

A: Strategy acquired 17,994 Bitcoin between March 2-8, 2026, at an average price of $70,946 per coin, for a total cost of approximately $1.28 billion.

Q: What are Strategy’s total Bitcoin holdings now?

A: The company holds 738,731 Bitcoin acquired for approximately $56.04 billion, or $75,862 per bitcoin including fees and expenses, representing more than 3.4 percent of Bitcoin’s fixed 21 million supply.

Q: How were the latest purchases funded?

A: The acquisitions were funded through approximately $899.5 million in sales of MSTR common stock and $377.1 million in sales of STRC perpetual preferred stock under the company’s at-the-market offering programs.

Q: What is the current market value of Strategy’s Bitcoin holdings?

A: With Bitcoin trading near $68,000, the holdings are valued at approximately $50 billion, representing mark-to-market losses of roughly $6 billion relative to the average purchase price of $75,862 per bitcoin.

Q: What are the different types of Strategy’s perpetual preferred stock?

A: The company offers four perpetual preferred stock series: STRK (convertible, 8% dividend), STRC (variable-rate cumulative, monthly dividends), STRF (non-convertible, 10% cumulative dividend), and STRD (non-convertible, 10% non-cumulative dividend).