Key Takeaways
- Michael Saylor published his characteristic weekend message on X, indicating Strategy plans to acquire additional Bitcoin.
- The company’s previous acquisition occurred in late February: 3,015 BTC purchased for $204.1 million at $67,700 each.
- Current Bitcoin holdings total 720,737 BTC, with an average acquisition cost of $75,985 per token.
- STRC preferred shares recorded their highest 2026 trading volume at $260M on March 6.
- Bitcoin was hovering around $67,292 during publication, beneath Strategy’s average buy-in price.
Michael Saylor returned to X on Sunday with a characteristic cryptic message as Bitcoin hovered near $67,500. His three-word statement — “The Second Century Begins” — accompanied by Strategy’s standard BTC accumulation graphic, has become a reliable indicator for those tracking the company’s movements. Another acquisition appears imminent.
This pattern has repeated itself consistently over recent months. Saylor posts on the weekend, and a regulatory disclosure typically follows within days confirming a fresh Bitcoin purchase. The routine has become remarkably consistent in cryptocurrency circles.
The company’s latest confirmed transaction occurred during February’s final week. Strategy acquired 3,015 BTC for approximately $204.1 million, averaging $67,700 per token. This elevated the company’s total position to 720,737 BTC, representing roughly $54.77 billion in cumulative investment.
According to SaylorTracker data, the company’s average acquisition cost per Bitcoin stands at $75,985. With BTC currently trading near $67,292, Strategy is operating below its cost basis on average.
Strategy’s fundamental net asset value (NAV) has dipped marginally below 1, indicating the stock now trades at a discount relative to its Bitcoin holdings. This marks a departure from the premium valuation the company enjoyed throughout most of 2024 and into early 2025.
Preferred Stock Trading Reaches New Heights
Market participants closely monitor STRC preferred stock activity as a leading indicator for potential Strategy purchases. Trading volume for STRC reached $260 million on March 6 — establishing a new 2026 benchmark.
Market observers interpret elevated STRC trading as evidence that capital may be assembling ahead of another Bitcoin acquisition. The at-the-market offering structure linked to this instrument enables investor interest to translate into deployable capital, a mechanism Strategy has leveraged for prior substantial purchases.
Anchorage’s recent addition of STRC to its holdings has attracted additional institutional focus to the instrument. Confirmation of any purchase will ultimately arrive through formal SEC documentation.
Macro Forces Weigh on Bitcoin Valuation
Bitcoin’s price has encountered resistance in recent weeks. The cryptocurrency sector broadly has grappled with constrained liquidity alongside uncertain macroeconomic circumstances.
CryptoQuant analyst Darkfost identified persistent inflation and climbing unemployment as primary factors pressuring risk-oriented assets. Recent Nonfarm Payrolls figures disappointed expectations, compounding challenges for markets already navigating an ambiguous Federal Reserve policy landscape.
Liquidity constraints are evident across financial markets generally. BlackRock recently implemented restrictions on investor redemptions in one of its funds citing inadequate available liquidity — underscoring how restrictive conditions have become.
Despite these headwinds, Strategy has maintained its acquisition strategy. The company finances purchases through debt and equity instruments rather than operational cash flow, enabling continuous accumulation independent of near-term price movements.
Saylor has explicitly dismissed pursuing mergers or acquisitions of competing BTC treasury operations. He explained to Cointelegraph that transaction timelines extend six to nine months or beyond, during which market conditions can shift sufficiently to deteriorate deal economics by closing.
Strategy maintains its position as the world’s largest corporate Bitcoin holder, with 720,737 BTC recorded on its balance sheet.
