NEW YORK, March 10, 2026, 10:47 EDT
Strategy said in a filing late Monday that it bought 17,994 bitcoin for about $1.28 billion between March 2 and March 8, taking its holdings to 738,731 tokens. The Tysons Corner, Virginia-based company said the latest purchase was funded mainly with sales of class A stock and STRC preferred shares.
It lands at a shaky moment for these companies. February’s crypto slide rattled listed firms that raise money largely to buy and hold tokens, and Strategy had added only 3,015 bitcoin the week before. Reuters reported at the height of that selloff that peers such as Metaplanet and Nakamoto were also under pressure.
Of the cash raised last week, about $899.5 million came from common stock sales and $377.1 million from STRC, a variable-rate preferred share that ranks ahead of common stock for dividends. The filing also showed Strategy amended its sales agreement so it can use a second agent to sell the same class of securities before the open or after the close on a trading day, a change that could make fundraising more flexible.
In morning trade on Tuesday, Strategy shares were down about 0.9% at $137.67, while bitcoin was up about 1.5% near $70,450. The latest batch of coins was bought at an average $70,946 each, while Strategy’s overall average purchase price stood at $75,862, leaving the company’s stockpile still below cost on paper at current prices.
B. Riley analyst Fedor Shabalin, who started coverage of Strategy on Tuesday with a Buy rating, wrote in a Monday note that the “next chapter” for the sector would lean on perpetual preferred equity — dividend-paying securities with no set maturity — and business lines beyond passive bitcoin buying. He said Strategy and Strive, which B. Riley also initiated, were “well positioned to navigate the current environment” because of their capital structures and funding discipline. Investing.com
The former software maker, previously known as MicroStrategy, reported a $12.4 billion fourth-quarter loss last month as a slump in digital assets hit the value of its holdings. Its annual report also showed a $2.25 billion U.S. dollar reserve as of Feb. 13, and the company said it had expanded a medium-term capital plan to $84 billion, split between equity and fixed-income instruments such as debt and preferred stock, to keep buying bitcoin.
The risk is straightforward. Strategy’s annual report shows about $1.02 billion of debt maturing in 2027 and roughly $6.4 billion due in 2028 if noteholders use put rights, meaning they demand repayment on those dates, and the company said that if it cannot raise fresh equity or debt it could look to sell bitcoin to meet obligations.
That makes this week’s purchase Strategy’s biggest disclosed weekly addition since January, when it said it had bought about 22,305 bitcoin. A week earlier, the company had added 3,015.
