7:16 AM ▪
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Those who watch Michael Saylor on X know his little game perfectly. On weekends, he posts a cryptic message that stirs up the community. Then, the following Monday, the news falls like a guillotine. Again, the strategy bought bitcoins, lots of bitcoins. This time the signal said “Tthe second century begins“The promise was again kept without ever failing.”
In short
- Strategy acquired 17,994 bitcoins between March 2 and March 8 for $1.28 billion.
- The company now holds 738,731 BTC, which is 3.7% of the total Bitcoin supply.
- The total average cost price is $75,862, representing $5.5 billion in latent losses.
- The purchase was financed with 899 million MSTR common shares and 377 million STRC preferred shares.
The Well Oiled Mechanics of Michael Saylor’s Bitcoin Machine
First, let’s look at the numbers disclosed in the official document filed with the SEC. Between March 2nd and March 8th, Strategy acquired 17,994 Bitcoins for a hefty sum of $1.28 billion. The average price paid for BTC is $70,946 per unit, which remains below the current cryptocurrency market price.
Another thing to understand is how Saylor funds this buying spree that has been going on for years. First, he sold $899 million worth of MSTR common stock. Second, he placed $377 million worth of STRC preferred stock, those famous variable dividend securities currently set at 11.5% per annum.
This is the biggest release of STRC since the launch of this financial product in July 2025. So the machine is running at full speed and never shows the slightest sign of slowing down.
738,731 BTC in vaults but latent loss of 5.5 billion
The strategy’s total portfolio now stands at 738,731 bitcoins, representing about 3.7% of the total supply, which will soon cross the 20 million unit mark. Still, all is not rosy in Michael Saylor’s kingdom. The total average price of his purchases is $75,862 per bitcoin, meaning all of his positions show a monumental latent loss of $5.5 billion.
Here comes Peter Schiff, the eternal promoter of gold, with his sharp comments. He continues to write
You are already 4% lower than your last purchase. Your latent loss continues to increase, now exceeding 5.5 billion. Even worse, there is an opportunity cost of not buying gold instead.
The crypto community is responding with unwavering vigor. To exchange answers: “Just because gold had a good year and bitcoin had a bad year doesn’t mean gold is better. In fact, the opposite is true. Bitcoin is rare and easier to sell “.
Arguments fly, passions flare, and Saylor remains unruffled in the midst of the storm.
Bitcoin and Crypto: What Historical Data Really Reveals
The numbers deserve a closer look in this hyperactive crypto universe. The strategy has already made one hundred bitcoin acquisitions since 2020. Its average cost price has fallen slightly below historical averages thanks to this purchase. However, MSTR shares have fallen 71% since their summer 2025 peak, dampening investor enthusiasm.
The mNAV ratio, which compares market capitalization to net asset value, fell below 1 for the first time. Traders at Myriad estimate a 14% chance Strategy will sell some of its bitcoins this year. That’s down from 35% last month, but the number still hangs over the crypto market like a sword of Damocles.
Saylor continues to borrow, issue stock, and buy more and more. The machine is running, but its gears are starting to grind. Preferred stock dividends cost a fortune every month. For now, the new numbers cover them.
How much longer can he keep up this frantic pace?
The numbers that tell the story of the Strategy saga
- 17,994 bitcoins: amount purchased in one week for $1.28 billion;
- 738,731 BTC: total amount held or 3.7% of total Bitcoin supply;
- 5.5 billion: latent loss accumulated on the entire portfolio;
- 71%: MSTR shares down from summer 2025 peak;
- $69,918: the price of Bitcoin at the time of writing.
Michael Saylor’s latent losses are probably only temporary to savvy observers. He too believes in a better future for Bitcoin. As does analyst PlanB, who regularly reassures the community by estimating that the current cycle could push the average price up to $500,000. A matter of patience, no doubt. And deep conviction.
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The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it
DISCLAIMER OF LIABILITY
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Before making any investment decision, do your own research.
