Strategy's Relentless Accumulation: $204M Buy Lifts Bitcoin Stash Beyond 720K Barrier

Strategy Inc. (formerly known as MicroStrategy) keeps up its unrelenting Bitcoin acquisition plan. Between February 23 and March 1, 2026, the company bought 3,015 BTC for about $204.1 million, at an average price of $67,700 per coin (including fees). With a total investment of around $54.77 billion and an overall average cost basis of $75,985 per BTC, this newest addition brings its whole holdings to 720,737 BTC. The company's tenth straight weekly purchase of Bitcoin, reinforcing Michael Saylor's idea of Bitcoin as a primary corporate treasury reserve asset, marks this movement.

Equity offerings at-the-market (ATM) helped to pay for the acquisition. Selling 1,730,563 Class A shares (MSTR) and an extra 71,590 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), Strategy raised $229.9 million, therefore producing net proceeds of about $237 million. The firm kept part of the cash as reserve after accounting for the Bitcoin acquisition, highlighting a disciplined approach to using equity markets to support its crypto strategy even in times of market stagnation.

Despite the frantic purchasing, Strategy's Bitcoin holdings today lie in unrealized loss territory. The 720,737 BTC stash is worth about $47–47.5 billion, representing a paper loss of $7–9 billion versus the overall cost basis given Bitcoin's trading range of $65,000–$66,000. MSTR stock, meanwhile, has dropped greatly, down 50% over the last year and 18% year-to--date, precisely following the price decline of Bitcoin itself. Still, the business shows no signs of decelerating its long-term belief strategy.