Written by Vince Quill, Staff Writer. Reviewed by Robert Lakin, Staff Editor. Strategy's Michael Saylor again hints at impending BTC purchase
The biggest Bitcoin treasury company's data shows holdings are profitable, having gained about 3.3% amid Bitcoin's rally to about $78,000.
Michael Saylor, the co-founder of Strategy, the largest Bitcoin treasury company, as measured by total BTC holdings, signaled that the company will be boosting those holdings in the coming days.
Saylor shared a chart of the company’s Bitcoin purchase history, showing 107 BTC transactions since 2020, which has previously signaled an impending purchase.
Less than a week ago, Strategy completed its most recent BTC buy, purchasing 34,164 coins for more than $2.5 billion, bringing its total holdings to 815,061 BTC, valued at about $63.6 billion using spot market prices at the time of publication, according to the company.
Strategy's BTC purchase history. Source: Strategy Tracker
To be sure, Strategy's treasury far outpaces others pursuing a similar plan. Twenty One Capital, the second-largest publicly traded BTC treasury company, holds only 43,514 BTC, according to BitcoinTreasuries.
The company continues accumulating BTC, acting as an anchor buyer. Strategy’s BTC demand is outpacing the newly mined supply threefold, a rate that could potentially cause a supply shock if the number of coins left on exchanges continues to dwindle, according to BTC advocate Samson Mow.
Related: Saylor teases 'bigger' BTC buy days after floating semi-monthly dividends
As unrealized losses top $14.5B, still on track for 1M BTC treasury
The Tysons Corner, Virginia company reported an unrealized loss of $14.5 billion for the first quarter of 2026 after the price of Bitcoin plummeted from a high of more than $126,000 in October 2025 to a low of about $60,000 in February 2026.
Strategy’s average cost of acquisition is about $75,528 per BTC, according to the company. However, its BTC treasury is back above water, as the spot BTC market price at the time of publication has surged to more than $78,000.
End-of-year projections for Strategy's corporate BTC treasury. Source: Adam Livingston
Bitcoin advocate and Strategy investor Adam Livingston forecast that the company is on track to accumulate a total of 1.2 million BTC by the end of 2026.
The company’s Bitcoin purchases will be fueled by capital raised from its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), a yield-producing credit instrument, Livingston said, adding, “Bitcoin's price will be driven to $1 million via this mechanism.”
Sounding a note of caution on Strategy's plan, however, is Seeking Alpha blogger Rida Morwa. "MSTR is issuing preferred equity like it is going out of style, and its plan is to either keep issuing equity or to sell its assets to pay the dividends," he said last week. "This would be a wonderful plan if you knew that Bitcoin is going to be $100,000 next year."
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