Michael Saylor's Strategy Inc. has continued its Bitcoin accumulation strategy by purchasing an additional $34.9 million in the cryptocurrency. This latest acquisition was entirely funded through the sale of the company's common stock, specifically its Class A shares. The company has frequently used common stock sales to finance its Bitcoin buys.
Strategy Inc., formerly known as MicroStrategy, has been consistently expanding its Bitcoin holdings, often relying on various capital raise methods. While the company has also pitched "Stretch" perpetual preferred shares to investors as a non-dilutive funding option, recent purchases have still heavily involved common stock. This funding approach has been a subject of discussion among financial analysts and short-sellers like Jim Chanos.
Over the past year, Strategy has engaged in numerous large-scale Bitcoin purchases. For instance, on February 23, 2026, the company bought $40 million in Bitcoin solely through common stock sales. On March 2, 2026, it acquired $200 million worth of Bitcoin, with the bulk ($230 million) coming from common stock. A larger purchase of nearly $1.6 billion on March 16, 2026, utilized $400 million from common stock sales and the remainder from preferred shares. More recently, on March 23, 2026, Strategy outlined a massive $42 billion capital raise, split evenly between common stock and perpetual preferred shares, to deepen its Bitcoin investment.
This ongoing strategy highlights Strategy Inc.'s commitment to Bitcoin as a primary treasury asset and its willingness to use different equity instruments to finance these acquisitions.
