Strategy signals new Bitcoin purchase amid market decline
Strategy, led by Michael Saylor, is once again signaling a potential Bitcoin purchase. The trigger was Saylor’s post with the phrase “The Orange March Continues,” which is traditionally accompanied by a chart of BTC accumulation.
Such posts typically precede new purchases or confirm deals already completed. This comes amid the recent market decline and increased volatility. Bitcoin dropped to $67,725 before partially recovering to around $68,100.
Despite the pressure, Strategy continues to follow an aggressive accumulation strategy. The company’s total purchases have already reached about $52 billion since August 2020. This cements its position as the largest corporate holder of BTC and a key institutional player.
Purchases continue despite losses
Strategy’s average purchase price stands at around $75,696 per BTC, which is above current market levels. At current prices, the company is sitting on an unrealized loss of more than 10%. Nevertheless, Strategy continues to actively increase its position. In March alone, the company bought 17,994 BTC and then another 22,337 BTC.
The combined value of these transactions reached approximately $2.9 billion, making March one of the most aggressive months for accumulation. This strategy reflects a long-term orientation. The company ignores short-term fluctuations and uses dips as entry points. This also increases Strategy’s influence on BTC market dynamics.
Equity-based financing faces challenges
The primary source of funding for purchases has been preferred shares such as STRC. This instrument allowed the company to raise capital by paying dividends without diluting MSTR shareholders. As a result, Strategy could scale BTC purchases without directly selling common stock.
However, last week the company paused the use of STRC. The reason was the inability to attract additional funding from the market. This signals declining investor interest in such instruments. In a falling market, the cost of capital rises and access becomes more difficult. This may slow down the pace of future BTC accumulation.
Pressure on shares and model resilience
Strategy (MSTR) shares are also under pressure alongside the crypto market. Over the past week, the stock has fallen 6.6% to $135.66. From its all-time high of $434.20, the shares are down about 68.7%. Previously, from 2023 to mid-2025, MSTR was one of the best-performing assets in the market.
However, the current correction raises questions about the sustainability of the corporate BTC reserve model. Other companies with similar strategies are also showing weak performance. Nevertheless, Strategy continues to stick to its approach. In the current market environment, this looks like a bet on the next growth cycle and a recovery in BTC prices.
Recently we wrote that BTC is trading around $68,689, losing more than 7% over the week, with a market capitalization of about $1.37 trillion, reflecting selling pressure after the recent rally.
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