Strategy Buys 22,337 BTC for $1.57B, 75% via Preferred Shares
Strategy purchased 22,337 BTC for $1.57 billion between March 9–15 at an average $70,194 per coin, its largest 2026 buy, funding $1.18 billion (75%) via STRC preferred-share issuance. As of March 15, Strategy holds 761,068 BTC at a $75,696 average cost basis, raising dilution concerns and market impact.
1. Largest Bitcoin Purchase of 2026
Between March 9 and 15, Strategy executed its biggest Bitcoin acquisition of the year, adding 22,337 BTC for $1.57 billion at an average price of $70,194 per coin. This marks a significant acceleration in its accumulation strategy compared with prior monthly purchases.
2. Preferred-Share Funding Mix
The $1.57 billion purchase was predominantly financed through an at-the-market offering of common stock and preferred-share issuance, with STRC preferred shares covering $1.18 billion or 75% of the total funding. This reliance on preferred equity raises questions about future share dilution and financing costs.
3. Holdings and Cost Basis
As of March 15, Strategy’s Bitcoin treasury stands at 761,068 BTC, amassed at an average cost basis of $75,696 per coin for a total outlay of approximately $57.61 billion. The current market price near $73,900 sits below this cost basis, indicating unrealized losses on the aggregate position.
4. Outlook and Market Catalysts
Bitcoin’s attempt to breach $75,000 could trigger short-covering and a gamma squeeze as dealers adjust hedges, while broader crypto demand is supported by digital safe-haven flows amid geopolitical tensions and record stablecoin supply. Upcoming regulatory clarity and ETF inflows may further influence price dynamics in the near term.