Michael Saylor, co-founder of Bitcoin treasury firm Strategy, recently hinted at the company’s plans to acquire more Bitcoin (BTC) as the cryptocurrency’s price pulled back from a recent local high of over $73,000. In a post on Sunday, Saylor encouraged followers to “Think bigger,” sharing a chart that illustrates Strategy’s ongoing BTC purchase history, which has become a hallmark of their imminent acquisitions.
The last notable purchase by Strategy occurred on April 6, when the company acquired 4,871 BTC for more than $329.8 million. This acquisition increased their overall holdings to 766,970 BTC, valued at approximately $54.5 billion at current market prices. Despite the bear market conditions causing Bitcoin prices to drop to two-year lows, thus pushing Strategy’s BTC treasury into the red, the firm remains committed to accumulating more BTC. Currently, the company faces unrealized losses of around $14.5 billion.
At a per-coin acquisition cost of $75,644, Strategy’s buying price is nearly $5,000 lower than Bitcoin’s market price at the time of reporting. The company disclosed a substantial loss of nearly $14.5 billion on its BTC holdings for the first quarter of 2026, as detailed in a filing with the US Securities and Exchange Commission (SEC).
Interestingly, Strategy’s aggressive accumulation of Bitcoin has outpaced the production capabilities of miners. In March, miners produced roughly 16,200 BTC, while Strategy amassed an impressive 46,233 BTC during the same period, nearly tripling the supply generated by mining operations. This trend has prompted some analysts to speculate about a potential supply squeeze in the market.
“The global consensus is that BTC is digital capital. The four-year cycle is dead. Price is now driven by capital flows. Bank and digital credit will determine Bitcoin’s growth trajectory,” Saylor remarked back in April.
With its 766,970 BTC reserve, Strategy stands out as the largest Bitcoin treasury company, significantly outpacing its closest competitor, Twenty One Capital, which holds 43,514 BTC. While multiple BTC treasury firms have shown signs of capitulation in the current challenging business landscape, Strategy has continued its acquisition strategy. For example, MARA Holdings sold 15,133 BTC in March for approximately $1.1 billion. The transaction was aimed at bolstering the company’s financial flexibility and expanding its strategic options beyond traditional Bitcoin mining to include ventures in digital energy and AI/HPC infrastructure, according to comments by Chairman and CEO Fred Thiel.
As Strategy forges ahead with its accumulation strategy, the firm’s continued investment underscores its commitment to Bitcoin, even in a tumultuous market environment.
