Doubling down on Bitcoin! Strategy (MSTR.US) Invests 200 million USD in a week, holding over 720,000 coins.

Strategy (MSTR.US) once again increases its holdings of Bitcoin amidst cryptocurrency price fluctuations, attracting market attention. According to the company's latest regulatory filing, it acquired an additional 3,015 Bitcoins between February 23 and March 1, with a total value of approximately $204.1 million, at an average purchase price of around $67,700 per Bitcoin. Following this acquisition, Strategy's total Bitcoin holdings have risen to 720,737 Bitcoins, with an average holding cost of $75,985. Data shows that Bitcoin has risen by about 5.5% in the past 24 hours to $68,903, after briefly falling to around $63,254 due to the impact of Middle East conflict. Boosted by this news, Strategy's stock price rose by 6.29% on Monday. To raise funds, the company plans to sell common and preferred shares through a "market price issuance" program, raising approximately $2.371 billion. Strategy has long relied on equity financing to support its Bitcoin purchasing strategy. Chairman and co-founder Michael Saylor has repeatedly stated his intention to "forever" increase his Bitcoin holdings, and has implied on social media that the company remains bullish on this asset. However, market skepticism surrounding its heavily Bitcoin-dependent financial model continues to grow. As cryptocurrency prices fall, the company's stock has dropped by about 10% this year, underperforming the S&P 500 index, which rose by 0.4%, and the Nasdaq Composite index, which fell by 2.4%. While Strategy still maintains traditional software businesses, its revenue is limited, and its balance sheet is largely dominated by Bitcoin price fluctuations, making it viewed as a "highly leveraged Bitcoin investment tool." In October 2025, Bitcoin reached a high of nearly $126,000, but fell back to around $60,000 by early 2026. Under the new accounting rules, the company is required to reevaluate its digital asset holdings at market prices quarterly. Strategy reported a net loss of $12.4 billion in the fourth quarter of last year, of which around $17.4 billion was unrealized losses on digital assets. Additionally, the company continues to issue preferred shares to fund Bitcoin purchases, which come with higher fixed dividend obligations. Since the cash flow from its software business is insufficient to cover these dividends, Strategy must continue issuing new shares to pay dividends, or in extreme cases, sell Bitcoin. As cryptocurrency market volatility intensifies, this model of expanding Bitcoin using equity financing is facing increased scrutiny.