Strategy Resumes Bitcoin Buying With $370 Million Purchase

Strategy, formerly MicroStrategy, began treating bitcoin as its primary treasury reserve asset in 2020 under co-founder and Executive Chairman Michael Saylor. Funded through sales of common and preferred shares, the approach made Strategy the largest corporate holder of bitcoin and turned MSTR into a leveraged proxy for the cryptocurrency. The model matters because falling bitcoin prices and a shrinking premium to net asset value can make fresh equity issuance more dilutive, while preferred-stock dividends raise the company’s cash requirements.

In a July 27 filing, Strategy said it neither bought nor sold bitcoin in the week ended July 26, extending its purchase pause to five weeks. Holdings remained at 843,775 BTC, acquired for $63.69 billion at an average $75,476 each; with bitcoin near $64,600, the stake carried an unrealized loss of about $9.3 billion. Strategy lifted its dollar reserve to $3.75 billion while keeping STRC’s dividend rate at 12%. On Aug. 2, Saylor posted “Bitcoin Drive engaged” on X, hinting at renewed buying without confirming a transaction.

Strategy, formerly MicroStrategy, has treated Bitcoin as its primary treasury asset since 2020 and funded further purchases through common-stock and bond issuance as well as STRC perpetual preferred stock. Its Bitcoin holdings are worth about $52 billion, making MSTR a key proxy for corporate Bitcoin exposure and putting its financing and dividend obligations under close scrutiny.

On March 22, Michael Saylor posted a purchase chart on X captioned “The Orange March Continues,” signaling that Strategy would keep buying. The company bought 17,994 Bitcoin on March 9 and another 22,337 on March 16, investing about $2.9 billion during the month. Bitcoin fell as low as $67,725 that day, below Strategy’s average cost of $75,696 and leaving its holdings with an unrealized loss of more than 10%.

MicroStrategy has long held large amounts of Bitcoin on its corporate balance sheet, and buying signals from Chairman Michael Saylor are often viewed as a barometer of institutional demand. A slight decline in its Bitcoin holdings had raised concerns that the company was reducing its position. Whether it continues buying therefore carries implications for confidence in large corporate demand and Bitcoin’s near-term outlook.

On Sunday, July 19, 2026, Saylor indicated that MicroStrategy would continue adding to its holdings, easing market fears that the company was cutting its position. Bitcoin rebounded quickly after falling below $60,000 and briefly touched $64,200. The market subsequently held steady, but confirmation of a shift from a downtrend to an uptrend will require stronger trading volume and sustained buying.

Strategy, formerly known as MicroStrategy, has treated Bitcoin as a core treasury asset since 2020, financing purchases through common stock, preferred stock and convertible debt offerings. The model spearheaded by Michael Saylor has made Strategy the world’s largest publicly traded corporate holder of Bitcoin, and its transactions have become an important gauge of institutional demand.

Strategy said on May 18, 2026, that it spent about $2.014 billion to buy 24,869 Bitcoin from May 11 to May 17 at an average price of $80,985 each. As of May 17, its total holdings stood at 843,738 Bitcoin, representing about 4% of Bitcoin’s maximum supply. The company had spent approximately $63.87 billion in total, at an average cost of about $75,700 per Bitcoin.

Strategy has long raised funds through debt and equity issuance to buy Bitcoin, making BTC a core treasury asset. The company now holds more than 840,000 BTC worth about $64.45 billion, the largest corporate reserve worldwide. Markets therefore often view its financing and Bitcoin purchase cadence as an indicator of institutional demand.

During the week of July 20, 2026, Strategy co-founder Michael Saylor said the company had not added to its Bitcoin holdings that week and had instead bought bonds, although it did not disclose the amount or type of bonds purchased. Describing the situation as the “BitVac,” or Bitcoin vacuum, “charging,” he suggested the move could be building up funds in preparation for the next round of Bitcoin allocation.

Strategy, formerly MicroStrategy, has accumulated Bitcoin since 2020 using its corporate balance sheet and funds raised through debt and equity issuance. BlackRock's iShares Bitcoin Trust (IBIT), meanwhile, rapidly attracted capital after its January 2024 launch. The two represent corporate treasury and spot ETF demand, respectively. Their reversal in the holdings rankings shows that institutional capital has become a major force in Bitcoin's supply, demand and price dynamics.

Strategy disclosed on April 20, 2026, that it spent $2.54 billion to buy 34,164 Bitcoin at an average price of $74,395 between April 13 and 19. Its total holdings rose to 815,061 Bitcoin, surpassing the 802,823 held by BlackRock's IBIT. On April 21, Bitcoin rebounded from a low of $73,724 to above $75,000. ETFs recorded net inflows of $997 million in the previous week, the highest since mid-January.

MicroStrategy, now known as Strategy, is a leading proponent of corporate Bitcoin reserves, continuously buying the cryptocurrency through debt and equity issuance. The performance of its holdings is seen as a key gauge of whether the digital asset treasury (DAT) model can endure. Earlier weakness in Bitcoin prices had generated paper losses while weighing on the valuations and fundraising capacity of similar companies.

As Bitcoin recovered to about $77,000 in mid-April, Strategy’s shares rose 8% in a single day. Founder Michael Saylor said the company generated $1.3 billion in Bitcoin gains during the first two weeks of April. Strategy currently holds about 780,000 Bitcoin at an average cost of $75,577, putting its position close to break-even and boosting confidence in the DAT market.

Bitcoin is considered a highly volatile risk asset and typically comes under pressure when the dollar strengthens and U.S. Treasury yields rise. Its ability to hold above $71,000 this time reflects resilient buying demand. MicroStrategy, now known as Strategy, has continued raising funds to accumulate BTC, making it the listed company with the world’s largest Bitcoin holdings.

As of July 19, 2026, Bitcoin remained above $71,000 and outperformed U.S. stocks, showing little drag from simultaneous increases in the dollar, oil prices and U.S. Treasury yields. Strategy raised about $776 million through its STRC preferred security, enough to potentially buy about another 11,000 BTC.

Strategy, formerly enterprise software company MicroStrategy, has made Bitcoin a core asset in recent years and continued accumulating it through debt and stock issuance. It holds more Bitcoin than any other publicly traded company, so its purchases and Michael Saylor’s price forecasts are often viewed by the market as indicators of institutional confidence.

On July 20, 2026, Strategy said it had spent about $39.83 million to buy 592 Bitcoin at an average price of $67,286 each, raising its total holdings to 717,722 Bitcoin. Despite a weak market and unrealized losses, Executive Chairman Saylor said that if Bitcoin does not go to zero, it will eventually rise to $1 million.

Strategy has included Bitcoin in its corporate asset allocation since August 2020, with Executive Chairman Michael Saylor continuing to borrow to fund purchases of the cryptocurrency. His moves have become a closely watched market signal. Bitcoin’s price also directly affects the performance of crypto-linked stocks such as Coinbase and MARA Holdings.

As of July 19, 2026, Bitcoin had rebounded about 3% from a short-term low to trade near $66,000, while Coinbase and MARA stabilized in premarket trading. Although geopolitical and tariff concerns kept the market in a state of extreme fear, Saylor signaled that Strategy would make its 100th BTC purchase, but did not disclose the amount.