NEW YORK, March 3, 2026, 18:12 EST — After-hours
- Strategy shares ended Tuesday down 3.6%, despite a sharp move earlier in the day.
- The latest filing showed a fresh bitcoin buy, this time bankrolled by selling stock. There’s also a higher dividend coming for holders of that high-yield preferred.
- Bitcoin’s direction is on investors’ radar, along with the company’s dividend schedule for March.
Strategy Inc dropped 3.6% to finish at $132.68 Tuesday. Shares touched a low of $127.86 and hit $136.42 at the session’s high. Bitcoin slipped roughly 0.9%, last seen at $68,654, having moved between $66,326 and $69,291 earlier.
What’s notable here: Strategy has stopped behaving like your typical software stock and now looks more like a proxy for bitcoin’s swings. The shares tend to jump or dive with the token, and investors are quick to drop questions about the size of their bitcoin purchases in favor of scrutinizing funding methods.
Strategy disclosed in a Monday Form 8-K that it picked up 3,015 bitcoin between Feb. 23 and March 1, paying roughly $204.1 million. The company financed the purchase using net proceeds, including $229.9 million from the sale of 1.73 million common shares and another $7.1 million from unloading 71,590 shares of its variable-rate preferred (STRC). The filing also noted STRC’s annual dividend is moving up to 11.50% from 11.25%, effective with monthly periods beginning March 1.
Michael Saylor, Executive Chairman, didn’t mince words on X. He posted that Strategy “has acquired 3015 BTC” and now “hodl” 720,737 bitcoin as of March 1. X (formerly Twitter)
An at-the-market program, or “ATM,” gives a company the option to drip shares into the market in small amounts, rather than unloading a large block all at once. That flexibility can help raise capital, but current shareholders may see dilution—and when shares already trade lower, selling more can make the math even less appealing.
Shares tied to crypto drifted mostly lower as bitcoin slipped. Coinbase dropped 1.6%. Marathon Digital slid 8.3%, with Riot Platforms losing 6.9%. Grayscale Bitcoin Trust fell 1.3%.
Strategy Inc — the company previously called MicroStrategy — switched over to its new name in August 2025. The business continues to offer software, though investors usually zero in on its bitcoin “treasury,” the stash of tokens listed on its balance sheet. Yahoo Finance
Speed remains the wild card. Should bitcoin tumble sharply, Strategy’s shares are likely to sink even faster. The company could be pushed to turn more to equity offerings or pricier preferreds just to stay in the bitcoin-buying game. Selling investors on that idea gets trickier when the dividend tab is already on everyone’s mind.
The company’s preferred dividend dates for March are locked in: March 15 for the record, March 31 for the payout, according to the filing. Traders are eyeing the next updates on stock sales and fresh bitcoin buys.
