Restart the common stock financing model Strategy(MSTR.US), and invest an additional $76.5 million to increase Bitcoin holdings.

LootboxPhobia · 2026-03-23T22:25:56+00:00

Zhitong Finance APP reports that Strategy recently increased its holdings by 1,031 bitcoins for $76.5 million. The company has shifted its financing strategy toward common stock rather than preferred stock as previously done, reflecting balanced consideration of shareholder interests under current market conditions. It currently holds over 762,000 bitcoins. Despite facing unrealized loss pressure, the stock price remains highly correlated with bitcoin, and the market maintains confidence in its long-term strategy.

LootboxPhobia

2026-03-23 22:25:56

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CryptoTimes App has learned that Strategy (MSTR.US) recently disclosed that it has invested approximately $76.5 million to increase its Bitcoin holdings and has shifted back to financing through common stock to support purchases. According to regulatory filings submitted on Monday, Strategy bought a total of 1,031 Bitcoins between March 16 and March 22, all funded through its “at-the-market” (ATM) offering of Class A common stock. This move marks a further adjustment in the company’s financing strategy.

A week earlier, Strategy raised about $1.2 billion through the issuance of perpetual preferred stock called “Stretch,” to complete its largest Bitcoin purchase since January of this year. Unlike common stock financing, preferred stock does not dilute existing shareholders’ equity but comes with fixed costs. Data shows that the cost of this type of financing is approximately 11.5%, equivalent to borrowing at a high interest rate to invest in highly volatile cryptocurrencies.

Analysts note that Strategy’s switch between common stock and preferred stock financing reflects a strategy to balance shareholder interests under different market conditions. When the company raises funds through common stock, it dilutes existing shareholders’ stakes; using preferred stock avoids dilution but increases financial leverage and interest expenses.

As of now, Strategy holds over 762,000 Bitcoins, which, at current market value, amounts to about $54 billion, making it one of the largest publicly traded companies holding cryptocurrencies. However, its average purchase cost is around $75,700 per Bitcoin, higher than the current market price of approximately $70,000, indicating it still faces some unrealized losses on its books.

It is noteworthy that Strategy’s stock price is viewed by the market as a “Bitcoin substitute asset” and is highly correlated with Bitcoin’s price movements. Despite Bitcoin’s recent decline, the company’s stock has still risen about 5% this month, demonstrating that the market maintains some confidence in its long-term crypto asset strategy.

BTC4.3%

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