MicroStrategy Bought $1.57 Billion in Bitcoin This Week, Total Holdings Surpass 761,000 BTC

According to documents filed with the U.S. Securities and Exchange Commission (SEC) on Monday, MicroStrategy (Strategy) purchased 22,337 Bitcoins between March 9 and 15 at an average price of $70,194 per coin, totaling $1.57 billion. This purchase ranks among the top five Bitcoin acquisitions in Strategy’s history, bringing the company’s total Bitcoin holdings to 761,068 coins.

Financing Mechanism for This Purchase: STRC Preferred Shares Set Record Sales

(Source: SEC)

The $1.57 billion funding for this purchase mainly relied on Strategy’s historically record-breaking sales of STRC (Stretch) perpetual preferred shares, which were made possible after the company relaxed sales rules on March 9. According to SEC filings:

STRC Preferred Shares Sale: Last week, 11.9 million shares were sold, raising $1.18 billion, accounting for about 75% of the total purchase amount.

MSTR Common Shares Sale: An additional 2.8 million Class A common shares were sold, raising $396 million.

Partnership with a Second Broker: Bitcoin Quant founder Rohan Hirani stated on X that “this is Strategy’s first time working with a second broker to operate the STRC ATM (continuous sale plan) during extended trading hours for a week,” significantly expanding STRC’s market liquidity and fundraising efficiency.

STRC Hits New Highs: Last week, STRC stock reached its all-time high, with an estimated 10,767 Bitcoins purchased through this channel over four active trading days (according to STRC Live statistics).

Saylor has publicly stated that STRC has now become one of the most liquid preferred stock products on the market. This financing innovation allows Strategy to continuously expand its Bitcoin reserves without overly diluting common shareholders.

Towards 1 Million Coins: Progress and Challenges

Based on Strategy’s current accumulation pace, the path to 1 million Bitcoins is as follows:

Current Holdings: 761,068 BTC, with an average cost of $75,696 per coin.

Remaining to Reach Goal: 238,932 BTC.

Required Weekly Purchase Rate: To reach the goal in the remaining 42 weeks of 2026, an average of about 5,700 coins per week must be bought.

Recent Purchase Pace: Last week, 17,994 coins; this week, 22,337 coins, indicating an acceleration in accumulation.

Weekly Average Price vs. Overall Cost: This week’s average price of $70,194 is below the overall average of $75,696, showing that this purchase also helps lower the overall cost basis.

Strategy continues to commit to paying stable dividends to STRC investors, securing ongoing capital market support for its Bitcoin acquisition plan, forming a self-reinforcing business model of “preferred stock financing → Bitcoin purchases → Bitcoin appreciation supporting valuation → attracting more STRC buyers.”

Frequently Asked Questions

Why does Strategy choose to finance Bitcoin acquisitions through STRC preferred shares instead of common shares?

STRC (perpetual preferred shares) offer fixed dividend yields, making them more attractive to institutional investors seeking stable income, such as insurance companies and pension funds. By using preferred stock financing, Strategy can raise large amounts of capital at relatively low interest rates while avoiding significant dilution of existing MSTR common shares, thus maintaining per-share Bitcoin value (BTC Yield).

What is the impact of Strategy purchasing Bitcoin at an average price of $70,194, which is below the overall average of $75,696?

The decline in Bitcoin’s overall average price means Strategy accumulated Bitcoin at lower prices before the recent rebound, effectively reducing its overall cost basis. This benefits the company financially by potentially improving unrealized gains when Bitcoin prices rise and lowering the break-even point, providing a larger safety margin for long-term holding strategies.

Is it realistic for Strategy to reach 1 million coins by 2026?

At the required pace of about 5,700 coins per week over the remaining 42 weeks, the recent purchase volumes of 17,994 and 22,337 coins suggest there is considerable flexibility in weekly accumulation. Achieving this goal depends mainly on continued demand for STRC and MSTR shares, Bitcoin market liquidity, and macroeconomic conditions supporting institutional Bitcoin allocations. If the current acceleration persists, reaching 1 million coins by 2026 is technically feasible.