Strategy's Bitcoin holdings fall 10% below cost as Saylor hints at fresh purchases
Strategy, the Bitcoin treasury company led by Michael Saylor, has acquired over $2.9 billion in cryptocurrency throughout the current month.
Despite a weekend market downturn that has plunged Strategy's Bitcoin holdings into unrealized losses exceeding 10%, executive chair Michael Saylor has indicated his firm may have acquired additional Bitcoin, continuing the company's aggressive accumulation strategy.
On Sunday, Saylor shared a post on X declaring "The Orange March Continues," accompanied by a visualization displaying Strategy's approximately $52 billion in Bitcoin (BTC) acquisitions dating back to August 2020.
When Saylor publishes this particular chart, it typically serves as an indication that his firm has completed, or intends to complete additional Bitcoin acquisitions, and market participants frequently interpret it as a positive indicator for the cryptocurrency.
Any new acquisition would supplement Strategy's already substantial Bitcoin buying activity throughout March, which included purchases of 17,994 Bitcoin on March 9 and an additional 22,337 Bitcoin on March 16, totaling approximately $2.9 billion worth of the cryptocurrency.
The timing coincides with escalating military confrontations between the US and Iran, sparking concerns about an extended energy and oil supply crisis that could impact global markets.
On Sunday, Bitcoin experienced a 4% decline to $67,725 before making a partial recovery, trading at $68,100 as of publication time.
Given that Strategy's average acquisition price per Bitcoin sits at approximately $75,696, the firm is presently experiencing unrealized losses exceeding 10% on its cryptocurrency holdings, based on data from BitcoinTreasuries.
The company has been financing a significant portion of its Bitcoin acquisitions through perpetual preferred stock offerings that generate high yields — including Stretch (STRC) — which provide investors with monthly dividend payments while Strategy expands its Bitcoin reserves without causing dilution to MSTR common stockholders.
Nevertheless, the company suspended its STRC funding mechanism last week following unsuccessful attempts to secure additional capital through the preferred stock instrument.
MSTR back in the red after short-lived rally
Last week saw Strategy (MSTR) stock prices decline by 6.6% to $135.66, wiping out a portion of the double-digit percentage increases recorded earlier this month, according to information from Google Finance.
The stock ranked among the strongest performers within US equity markets during the period spanning January 2023 to July 2025, but has subsequently dropped 68.7% from its peak price of $434.20.
Companies maintaining corporate Bitcoin treasuries have experienced even more severe downturns, leading to questions regarding the long-term viability of corporate cryptocurrency treasury strategies that emerged last year.