Michael Saylor, co-founder of Bitcoin treasury company Strategy, signaled the firm is adding to its BTC holdings as the price retreated from a local high above $73,000. On Sunday he shared the phrase “Think bigger” alongside Strategy’s familiar BTC purchase-history chart, a graphic investors often read as a hint of imminent buys.
Strategy’s latest reported purchase was on April 6, when it acquired 4,871 BTC for more than $329.8 million, bringing its reported total to 766,970 BTC — roughly $54.5 billion at publication. The Tysons Corner, Virginia–based company has kept accumulating Bitcoin despite a multiyear bear market that pushed prices to two-year lows and left its treasury showing an unrealized loss.
An SEC filing for Q1 2026 listed an average acquisition cost of $75,644 per BTC and about $14.5 billion in unrealized losses on the company’s holdings. Even so, Strategy’s buying pace has outstripped new supply from miners: miners produced roughly 16,200 BTC in March, while Strategy added about 46,233 BTC that month — nearly three times newly mined supply — a dynamic some analysts warn could tighten available supply.
Saylor has characterized Bitcoin as “digital capital,” arguing the old four-year cycle is obsolete and that future price movement will be driven by capital flows, including bank involvement and digital credit. With 766,970 BTC, Strategy is the largest corporate Bitcoin treasury by holdings; the next reported corporate holder, Twenty One Capital, holds about 43,514 BTC.
Strategy’s steady accumulation stands in contrast to other firms. MARA Holdings, for example, sold 15,133 BTC in March for about $1.1 billion and used proceeds to repurchase $1 billion of zero-coupon convertible notes at a discount — a move MARA’s CEO said improves financial flexibility as the company expands into digital energy and AI/HPC infrastructure.
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