TLDR

  • Michael Saylor shared his trademark “orange dot” chart on X (formerly Twitter) on March 22, suggesting another Bitcoin acquisition
  • Strategy possesses 761,068 BTC purchased at an average price of $75,696 per coin, currently showing a 10% unrealized loss
  • The firm has acquired $2.9 billion worth of Bitcoin in March alone, with major purchases on March 9 and March 16
  • MSTR shares declined 6.6% last week to $135.66, now trading 68.7% below their peak of $434.20
  • Strategy suspended fundraising via its STRC preferred stock program last week after unsuccessful attempts to secure new capital

(SeaPRwire) –   On Sunday, March 22, Michael Saylor published his familiar orange dot chart on X with the message “The Orange March Continues.” Investors widely interpret this post as indicating that Strategy has purchased or plans to purchase additional Bitcoin.

The chart displayed Strategy’s Bitcoin holdings valued at $52.36 billion, comprising 761,068 BTC amassed since August 2020.

While substantial, the position is currently at a loss. With an average purchase price of $75,696 per coin and Bitcoin trading near $68,100, Strategy faces an unrealized loss exceeding 10%.

Bitcoin fell 4% to $67,725 on Sunday before a modest rebound. Escalating US-Iran military tensions were identified as a factor in the weekend decline.

Strategy’s March acquisitions have been significant. The company purchased 17,994 BTC on March 9 and added 22,337 BTC on March 16, totaling $2.9 billion in Bitcoin within weeks.

MSTR Gives Back Recent Gains

MSTR declined 6.6% last week to close at $135.66, reversing much of the double-digit gains achieved earlier in March.

Strategy Inc, MSTR
MSTR Stock Card

The shares have now fallen 68.7% from their record high of $434.20. The stock ranked among the best-performing US equities from January 2023 to July 2025.

Market capitalization stands at $46.8 billion, while enterprise value is $62.8 billion. The difference reflects $8.25 billion in total debt on Strategy’s books.

The firm maintains $2.25 billion in USD cash reserves alongside its debt. Net leverage is reported at 11%.

MSTR’s implied volatility is 55%, with 30-day and annual historical volatility at 74%. Derivatives open interest has hit $38.1 billion, indicating substantial market positioning.

Funding Troubles at STRC

Strategy previously utilized high-yield perpetual preferred stock offerings to finance Bitcoin acquisitions without diluting MSTR common shares. One instrument, Stretch (STRC), provided monthly dividends to investors.

Last week, the company ceased new fundraising through STRC after failing to attract fresh capital. This creates challenges for financing future acquisitions.

MSTR trading volume hit $3.82 billion last week, significantly exceeding the 30-day average of $2.85 billion.

Despite losses and funding difficulties, Saylor’s Sunday post indicates the Bitcoin accumulation strategy remains unchanged.

As of March 22, 2026, Strategy’s 761,068 BTC holdings continue to represent the largest corporate Bitcoin treasury worldwide.

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Category: Top News, Daily News

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