Strategy's Bitcoin Bet Takes a 10% Hit Despite Continued Buying Spree

Michael Saylor's company Strategy has seen its Bitcoin holdings turn 10% red as the market price dipped below $75,696 per coin. This comes despite continued buying by the company.

Saylor posted a chart of Strategy's Bitcoin purchase history on X, captioning it 'The Orange March Continues'. The post came as Bitcoin fell 4% to $67,725 before recovering to around $68,100.

Strategy has been actively purchasing Bitcoin this month, with the latest buys totaling roughly $2.9 billion. The company finances a portion of its acquisitions through high-yield perpetual preferred stock offerings, including Stretch (STRC), which pays monthly dividends while allowing Strategy to accumulate more Bitcoin without diluting common shareholders.

The company's shares, MSTR, fell 6.6% last week to $135.66, erasing some gains from earlier in March. Despite this, Strategy continues to add to its holdings, having purchased over $2.9 billion in Bitcoin this month alone.