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- Strategy buys 1,031 BTC, bringing total holdings to over 762,000 Bitcoin
- Company holds ~3.6% of total BTC supply despite unrealized losses
- Continued accumulation signals long-term conviction over short-term price
Strategy Inc. is still buying Bitcoin, even as prices sit well below previous highs and its position shows billions in unrealized losses. The company added another 1,031 BTC last week, bringing its total holdings to a massive 762,099 Bitcoin, now worth roughly $53 billion. It’s not the largest purchase they’ve made recently, but it fits a pattern that’s become pretty clear over time.
The purchase, valued at around $77 million at an average price of $74,326 per coin, was funded through stock sales rather than cash reserves. That approach, raising capital through equity to accumulate Bitcoin, has been central to Strategy’s playbook since its shift toward crypto back in 2020.
A Smaller Buy, But the Same Strategy
Compared to earlier March purchases, nearly 18,000 BTC on March 9 and over 22,000 BTC on March 16, this latest acquisition looks relatively modest. But the size isn’t really the point. What matters is consistency. Strategy continues to accumulate regardless of market conditions, whether Bitcoin is rallying or pulling back.
That kind of approach stands out in a market where most participants react to price. Strategy, on the other hand, seems to operate on a different timeline, one that prioritizes long-term positioning over short-term performance.
Billions in Unrealized Losses, For Now
At current prices around $70,000, the company is sitting on an estimated $4 billion in unrealized losses. Its average cost basis of $75,696 per Bitcoin is still above the market, reflecting the impact of Bitcoin’s roughly 44% decline from its all-time high near $126,000.
On the surface, that might look like a risky position. But unrealized losses don’t necessarily force action. Strategy hasn’t shown signs of slowing down, and if anything, continues to treat dips as opportunities rather than setbacks.
Capital Structure Fuels Continued Buying
One reason Strategy can keep buying is its access to capital. The company still has billions available through various funding channels, including $6.2 billion in shares under its at-the-market program and additional capacity across preferred stock offerings.
This gives it flexibility to continue accumulating without relying on existing reserves. It’s a model that blends traditional finance with crypto exposure, allowing Strategy to scale its position in a way most companies can’t.
A Growing Share of Bitcoin Supply
With over 762,000 BTC, Strategy now controls approximately 3.6% of the total circulating Bitcoin supply. That’s a significant share, one that gives the company outsized influence in the market, even if it doesn’t actively trade those holdings.
The bigger takeaway is the signal. Despite volatility, drawdowns, and macro pressure, Strategy’s approach hasn’t changed. It continues to accumulate, reinforcing the idea that for some players, Bitcoin isn’t a trade, it’s a long-term treasury strategy.
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