Michael Saylor Buys Bitcoin as Strategy Holdings Top 720,000 BTC

Michael Saylor has signaled that additional Bitcoin purchases are on the way, reinforcing Strategy’s aggressive accumulation plan.

He shared the update on X on Tuesday while Bitcoin was rebounding from a brief dip. Earlier in the session, the cryptocurrency slipped below $66,500 before recovering steadily.

At the time of writing, it was trading near $68,408, up 5.4% over the past seven days, according to CoinGecko. The price rebound formed the backdrop to Saylor’s renewed buying signal.

Against this market setting, Strategy (formerly MicroStrategy) continues to anchor its corporate approach around Bitcoin. Specifically, the enterprise software company has positioned the digital asset as its primary treasury reserve, making it the largest corporate holder of Bitcoin globally.

Key Points

• Saylor indicated on X that Strategy plans to continue buying Bitcoin, signaling ongoing corporate accumulation.
• Last week, Strategy purchased 3,015 Bitcoin for ~$204.1 million, at an average price of $67,700 per coin.
• Total holdings now total 720,737 Bitcoin, valued at roughly $47.5 billion, making Strategy the world’s largest corporate holder.
• Purchases are funded via equity sales, including $229.9 million from MSTR shares and $7.1 million from STRC shares, with billions more authorized for future issuance.
• Despite short-term unrealized losses (~$7.3 billion), Saylor reiterated a long-term commitment, planning quarterly Bitcoin purchases indefinitely and maintaining sufficient reserves for dividends and debt obligations.

Latest Purchase Expands Bitcoin Treasury

In line with that model, Strategy disclosed a new acquisition last week. The company purchased 3,015 Bitcoin for approximately $204.1 million, paying an average price of $67,700 per coin.

With this addition, total holdings climbed to 720,737 Bitcoin. At current market levels, those holdings are valued at roughly $47.5 billion. However, the company’s average purchase price stands at $75,985 per Bitcoin. In aggregate, Strategy has spent about $54.8 billion on Bitcoin, including fees and related expenses.

Relative to Bitcoin’s fixed supply of 21 million coins, the company now controls just over 3.4% of the eventual total. Based on current prices, the position reflects approximately $7.3 billion in unrealized losses. Even so, the firm has continued to increase its exposure.

Equity Sales Power Continued Buying

To finance these purchases, Strategy has relied heavily on the equity markets. Specifically, it used proceeds from at-the-market sales of its Class A common stock, MSTR, and its perpetual Stretch preferred shares, STRC.

In the past week alone, the company sold 1,730,563 MSTR shares, generating about $229.9 million in proceeds. As of March 1, approximately $7.6 billion worth of MSTR shares remained available for issuance under the same program.

During the same period, Strategy sold 71,590 STRC shares, raising around $7.1 million. In addition, the company disclosed that $3.5 billion worth of STRK shares remain authorized for future issuance and sale. Collectively, these programs provide substantial capacity to fund further Bitcoin acquisitions.

Long-Term Commitment to Bitcoin

Saylor’s recent comments are consistent with remarks he made during a CNBC interview last month. In that appearance, he said Strategy does not intend to sell its Bitcoin holdings in the foreseeable future. Instead, he emphasized that the company plans to continue purchasing Bitcoin every quarter indefinitely.

When asked about the risk of a prolonged market downturn, Saylor remained confident. He said that even if Bitcoin were to decline 90% for four years, the company would refinance its debt.

He also stated that Strategy holds sufficient cash reserves to pay dividends on its Bitcoin-backed high-yield perpetual preferred shares, such as STRC, and to meet debt obligations for more than two years.

Looking further ahead, Saylor expressed strong conviction in Bitcoin’s performance. In the CNBC interview, he said he expects the cryptocurrency to generate returns double or triple those of the S&P 500 over the next four to eight years.