Strategy Controls 717,722 Bitcoin as Portfolio Dips Underwater

Strategy now holds 717,722 BTC worth $48.15B. Despite a $76,020 average entry price putting the bet underwater, Michael Saylor remains bullish.

Data indicates that Strategy controls 717,722 BTC, valued at approximately $48.15 billion as of March 1, 2026.

The average acquisition price stands at roughly $76,020 per token, which temporarily places the company “underwater” relative to current market levels following the latest correction in the crypto sector.

https://twitter.com/saylor/status/1895820468087914846

Corporate Leverage on Digital Gold

Strategy remains the most aggressive publicly traded corporate holder of Bitcoin. With over 100 purchases during the tracked period, the company continues to implement a dollar-cost averaging strategy, funded through a combination of debt and equity instruments.

This approach has effectively turned its balance sheet into a de facto proxy for the Bitcoin price, with its shares often trading with a high correlation to the movements of the cryptocurrency.

Temporary Pressure, Strategic Confidence

The charts reveal a cyclical pattern: aggressive accumulation during dips and an accelerated pace during bullish breakouts.

Although the position currently sits at an unrealized loss, Michael Saylor continues to frame the exposure as a multi-decade bet rather than short-term speculation.

Historically, Strategy has increased its purchases specifically during corrections, turning volatility into a tool rather than a risk, according to public statements from management.

What Markets Are Watching

Investors are monitoring several key factors:

• Liquidity and debt servicing – The company’s ability to maintain financing under higher interest rate conditions.
• ETF flows and institutional demand – Which remain the primary drivers for the price of Bitcoin.
• The macroeconomic cycle – Any slowdown in inflation or signals of rate cuts could support risk assets, including crypto.

Bitcoin as a Corporate Reserve

Strategy is no longer perceived merely as a software company. For many investors, it is a leveraged instrument for BTC exposure with additional balance sheet risk.

While the crypto market remains sensitive to global liquidity flows, Strategy’s position continues to serve as a barometer for corporate conviction in digital assets.

Whether this is truly the “turn of the century,” as Saylor suggests, will depend not only on the price of Bitcoin but on the ability of institutional capital to remain committed through the next macro cycle.