Strategy’s stock is trading below the value of its own Bitcoin holdings — an unusual position for a company that has built its entire identity around the cryptocurrency’s rise.
Related Reading: Bitcoin Climbs Back To $73,000 As Short Squeeze Wipes Out $246M In Futures Bets A Streak That Keeps Going The Virginia-based firm added 17,994 BTC to its reserves last week, paying roughly $1.28 billion at an average of $70,946 per coin.
It was the company’s 102nd Bitcoin purchase and the 11th straight week it has bought more. Strategy’s total Bitcoin stash is now valued at approximately $52.65 billion, yet its market capitalization sits closer to $47 billion.
The gap tells a story investors are watching closely. Chairman Michael Saylor took to X on Thursday with a message that many read as a direct response to growing impatience.
Don’t expect Bitcoin to surge immediately after a big corporate purchase, he said — the gains usually show up later.
The post spread fast, pulling in a wave of reactions — some supportive, some skeptical, and a few that referenced older memes tied to Saylor’s years of Bitcoin advocacy.
You know there’s a delay between the time we buy the Bitcoin and the time Bitcoin goes to the moon. — Michael Saylor (@saylor) March 12, 2026 Bitcoin was trading around $70,800 at the time of writing.
That price leaves Strategy sitting on approximately $3.35 billion in unrealized losses across its holdings. Saylor Makes The Case For Holding The losses have not shaken Saylor’s public stance.
In a recent Fox Business interview, he laid out a scenario where Strategy continues paying dividends as long as Bitcoin appreciates at least 1.25% annually.
He also said that if prices stay flat for years, the company would have roughly eight decades to rework its capital structure — a timeframe most public companies would never cite as a comfort measure. His longer-term projection is more aggressive.
Saylor has said he expects Bitcoin to grow around 30% per year over the next two decades. That outlook underpins the company’s decision to keep buying regardless of short-term price swings.
Related Reading: Cardano’s DeFi Boom: TVL Spikes 23% In Less Than 2 Weeks Analyst Notes Strength In Market Activity Meanwhile, some cryptocurrency analysts flagged a recent uptick in the Coinbase Premium — a metric used to gauge spot demand among US-based buyers.
Based on that view, if Bitcoin holds above $70,000, the next resistance level to watch is around $74,000-$75,000. That figure is close to the average price Strategy paid across all of its Bitcoin purchases.
For the company and many traders tracking its moves, it carries weight beyond a simple technical level. Whether the price reaches it soon — or much later, as Saylor suggests — remains to be seen. Featured image from Gemini, chart from TradingView