Strategy Inc completed its 101st bitcoin purchase last week, adding 3,015 BTC for approximately $204.1 million at an average of $67,700 per coin - well below the company's overall average cost of $75,985 per bitcoin.
The buy lifts total holdings to 720,737 BTC, acquired for roughly $54.77 billion in aggregate.
The purchase was funded through the company's at-the-market offering program, which generated $229.9 million in net proceeds from 1.73 million shares of Class A common stock and an additional $7.1 million from 71,590 shares of its variable-rate preferred stock (STRC) during the same period.
What Happened
According to a Form 8-K filed with the SEC on March 2, Strategy acquired the bitcoin between Feb. 23 and March 1, 2026.
With bitcoin trading around $65,000–$67,000 at the time of writing, the firm's entire 720,737-BTC position sits at an unrealized loss relative to its $75,985 average purchase price.
The company also raised the annualized dividend rate on its STRC preferred stock from 11.25% to 11.50%, effective March 1.
The board declared quarterly dividends across all preferred share classes, payable March 31, with Strategy expecting the payouts to qualify as non-taxable return of capital under U.S. federal tax rules.
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Why It Matters
Strategy's 720,737 BTC equates to roughly 3.4% of bitcoin's capped 21 million supply, making the firm the world's largest known corporate holder by a wide margin.
The concentration means its balance sheet is acutely exposed to cryptocurrency price swings that the company does not hedge.
The most recent buy came in nearly $8,300 below Strategy's blended average cost, which slightly reduces that basis. Critics, including economist Peter Schiff, noted publicly that unrealized losses continue to grow as the company keeps averaging down a position that remains underwater overall.
Strategy has not disclosed any change in its core thesis: acquiring and holding bitcoin indefinitely, financed through ongoing equity issuances.
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