Michael Saylor’s company, Strategy, acquired 22,048 Bitcoin between March 24 and March 30, spending $1.92 billion raised through recent stock sales, according to a March 31 announcement.
The recent purchase averaged $86,969 per coin, well above the firm’s overall average of $67,458. According to its latest disclosures, the firm’s purchases were made using capital raised through its ongoing at-the-market offerings, which include both common shares and two series of preferred stock.
This latest acquisition brought Strategy’s total holdings to 528,185 BTC, bought for $35.63 billion in total.
The company’s updated dashboard notes continued use of capital markets to expand its BTC reserve, reinforcing its role as one of the largest corporate holders of the asset
The company raised $1.22 billion through these offerings during the week of the acquisition. Strategy, formerly MicroStrategy, has not signaled any slowdown in its Bitcoin strategy.
The proposal triggered a brief price jump across digital assets, but prices later retreated on profit-taking and mixed macroeconomic signals. Bitcoin recently traded near $81,780, down 3% on the day and 13% below its March high, per CoinMarketCap.
Bitcoin traded with high volatility in March, briefly topping $94,000 after former President Donald Trump proposed a Strategic Crypto Reserve on March 6.
The executive order outlined plans to hold a portion of the government’s seized Bitcoin long term, while exploring ways to acquire more without raising new taxes. The decision was seen as a turning point for Bitcoin’s regulatory outlook, signaling a shift toward institutional legitimacy.
Bitwise CIO Matt Hougan said that the executive order for the crypto reserve removes the “last existential risk” to Bitcoin’s long-term viability.
While most remain cautious, Strategy’s approach shows how public companies could use capital markets to build crypto reserves—potentially reshaping treasury management over time.
This coordinated policy movement has reinforced investor confidence in the asset’s role in both public and private treasuries.
Momentum has also picked up at the state level. Lawmakers in 23 U.S. states have introduced more than 40 Bitcoin reserve bills, with several proposals advancing in Oklahoma, Missouri, Arizona, and Kentucky.