NEW YORK, March 4, 2026, 07:26 EST
- Strategy picked up 3,015 bitcoin for $204.1 million, pushing its total stash to 720,737 tokens.
- Most of the buying was bankrolled by selling Class A common stock. A smaller slice came from the firm’s “Stretch” preferred shares.
- Bitcoin hovered near $70,684 as of Wednesday morning, slipping under Strategy’s average buy-in of $75,985.
Strategy Inc, chaired by Michael Saylor and known for its bitcoin focus, snapped up 3,015 bitcoin for $204.1 million in the week ending March 1, according to a regulatory filing. That latest buy pushes its stash to 720,737 tokens.
The purchase matters now, not so much for the trade itself, but for what it reveals about the mechanics behind it. Investors are eyeing how much longer the company can keep raising cash in the market—questions of dilution and growing dividend obligations are on the table.
To finance its bitcoin purchases, Strategy has turned to selling both common and preferred shares. Issuing more common stock dilutes existing ownership. Preferred stock, for its part, carries a regular cash dividend—potentially locking the company into fixed payments if crypto prices drop.
The company disclosed it raised $229.9 million from selling 1,730,563 shares of its Class A common stock, and brought in another $7.1 million by issuing 71,590 shares of its variable-rate “Stretch” preferred stock (STRC) over the Feb. 23–March 1 stretch. For its most recent bitcoin purchase, the average price landed at $67,700. Altogether, the firm’s bitcoin holdings were acquired for $54.77 billion, translating to an average of $75,985 per bitcoin. https://assets.contentstack.io/v3/assets/b… https://finance.yahoo.com/news/breaking-mi…
Saylor took to the internet to confirm the purchase, posting that Strategy “has acquired 3,015 BTC for ~$204.1 million” and noting the company “hodl[s] 720,737 $BTC”—his nod to crypto jargon for holding. https://x.com/saylor/status/20284559621815…
Strategy bumped the annual dividend on its Stretch preferred stock to 11.50%, up from 11.25%, effective for monthly periods beginning March 1, according to the same filing. The company also declared March 31 cash dividends for several perpetual preferred offerings.
According to Bloomberg, most of the latest purchase was paid for using common stock, while just a fraction was funded through at-the-market sales of Stretch preferred shares—sold at prices under their face value, the notional amount for dividends. This move came even after earlier attempts to channel financing into perpetual preferred stock. https://www.bloomberg.com/news/articles/20…
Bitcoin climbed roughly 4.6% to $70,684 on Wednesday morning, after dipping to $66,326 earlier. Strategy shares slipped about 3.6%, trading at $132.68 before the U.S. market opened.
Shares in Strategy soared 5.7% Monday, Barron’s reported, after the firm revealed its newest bitcoin purchase. Investors are sizing up the relentless growth of the largest corporate crypto holding while also eyeing what it’s costing to keep that pile growing. https://www.barrons.com/articles/strategy-…
Only a few public companies such as Tesla and Block have bitcoin on their balance sheets, but Strategy’s bitcoin holdings dwarf theirs, tightening the link between its share price and the cryptocurrency’s swings.
Still, there’s a clear vulnerability here: the model assumes capital keeps flowing and bitcoin prices avoid any deep, extended dips. If crypto stumbles, raising fresh equity gets tougher, and those higher preferred dividends bring fixed cash demands, regardless of how investors are feeling.
Tysons Corner, Virginia-based Strategy disclosed that its most recent bitcoin buys came out of the proceeds raised through its at-the-market program—this tool gives companies flexibility to offload shares gradually at current market prices.
