Strategy Completes 101st Bitcoin Buy, Acquires 3,015 BTC Funded By $237M Stock Sales
Key Takeaways
- Strategy completed its 101st Bitcoin purchase, adding 3,015 BTC.
- The purchase was funded by about $237 million raised via stock sales.
- Michael Saylor signaled Strategy will continue accumulating as BTC trades in mid-$60,000s.
Deal size and timing
Strategy completed its 101st Bitcoin purchase, adding 3,015 BTC to its treasury in an acquisition that multiple outlets report occurred in late February/early March and pushed the firm’s total holdings to 720,737 BTC.
“Michael Saylor, the co-founder of Bitcoin (BTC) treasury company Strategy, indicated on Sunday that the company may be preparing to buy more BTC as the price hovers near the $66,000 level”
Live Bitcoin News reported that the purchase “added 3,015 BTC at an average price of $67,700” and stated “The purchase took place on March 2 at an average price of about $67,700 per coin,” while Cointelegraph described the buy as happening “during the last week of February” and said the company bought “3,015 BTC for more than $204 million,” noting the transaction brought holdings to “720,737 BTC, valued at about $48.1 billion.”
The differing date references between outlets (March 2 vs. last week of February) are evident in the coverage and should be noted as a minor discrepancy in reporting.
How purchase was funded
Strategy funded the latest purchase primarily through stock sales that raised roughly $237 million, according to firm disclosures reported by Live Bitcoin News, while Cointelegraph framed the company’s financing more broadly, saying Strategy “continues to accumulate BTC through debt and equity financing.”
The two outlets together indicate that the company is using capital markets — including share issuance — to finance treasury buys, even as individual reported figures for the trade (Live Bitcoin News’ $237 million in proceeds vs. Cointelegraph’s phrasing that the lot cost “more than $204 million”) differ in how they present the cash flow and cost metrics.
Holdings, cost, and discount
The buy leaves Strategy with a large BTC treasury that currently sits below its aggregate cost basis: Live Bitcoin News calculated the firm has spent approximately $54.77 billion to accumulate 720,737 BTC and reported an average purchase price “near $75,985 per Bitcoin,” putting the holdings’ market value at about $48.5 billion at a $67,000 BTC price and “about $6.3 billion below its total purchase cost on paper.”
“Michael Saylor, the co-founder of Bitcoin (BTC) treasury company Strategy, indicated on Sunday that the company may be preparing to buy more BTC as the price hovers near the $66,000 level”
Cointelegraph similarly noted that Bitcoin’s market price is “below Strategy’s average purchase cost of about $75,985 per BTC” and valued the holdings at roughly $48.1 billion, while also observing that “Strategy’s mNAV is just below 1,” indicating the company is trading at a discount to its BTC treasury.
Saylor’s public messaging
Michael Saylor signalled continued accumulation momentum around the latest purchase: Live Bitcoin News reproduced Saylor’s social post in which he wrote “The Second Century Begins,” and said the message “suggests that the firm plans to continue its accumulation strategy beyond the first series of purchases.”
Cointelegraph likewise quoted Saylor — ““The Second Century Begins,” Saylor said on X” — and reported that Saylor’s chart and commentary have become associated with impending BTC buys, with coverage noting Saylor appears inclined to keep adding to the treasury rather than pursuing mergers or acquisitions of competing treasury firms.
Market context and implications
Analysts and market commentators framed the buy against a broader industry backdrop in which crypto treasury companies are under pressure: Cointelegraph warned that treasury companies are experiencing a “collapse in net asset values (NAVs) for Treasury companies” and suggested “2026 may be the year of consolidation for crypto treasury companies,” with firms that generate operating cash flows potentially buying up pure-accumulator treasuries.
“Michael Saylor, the co-founder of Bitcoin (BTC) treasury company Strategy, indicated on Sunday that the company may be preparing to buy more BTC as the price hovers near the $66,000 level”
Live Bitcoin News emphasised Strategy’s continued long-term view, reporting the firm “has maintained its position that Bitcoin serves as a long-term treasury reserve asset” and noting the company began accumulating in 2020 and persisted through varied market conditions, underscoring why Strategy may press on with purchases despite short-term NAV discounts.
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