Strategy (NASDAQ:MSTR) purchased 1,031 Bitcoin (CRYPTO: BTC) for $76.6 million last week, a dramatic slowdown from over $1 billion in purchases during each of the previous two weeks when the company issued STRC preferred shares.

The Slowdown Explained

Strategy funded last week’s purchase entirely through common stock sales rather than STRC preferred shares, marking a return to smaller acquisition sizes typical of periods when the company relies solely on equity offerings.

Total holdings now stand at 762,099 Bitcoin acquired for approximately $57.69 billion, or an average price of $75,694 per coin. 

With Bitcoin trading just under $70,000, Strategy’s holdings sit below cost basis.

The previous two weeks saw purchases exceeding $1 billion each as Strategy took advantage of STRC preferred share issuance. 

The company acquired 22,337 Bitcoin for $1.57 billion the week ending March 15, followed by another billion-dollar-plus purchase the prior week.

The 1 Million Bitcoin Target

Strategy targets 1 million Bitcoin by the end of 2026, requiring approximately 239,000 additional coins at an estimated cost of $22.2 billion. 

Executive Chairman Michael Saylor hinted at continued accumulation with an X post stating “The Orange March Continues.”

The company plans to finance this expansion through a combination of STRC perpetual preferred shares and at-the-market equity offerings. 

The pace of purchases fluctuates based on which funding mechanism is active—preferred share issuance enables billion-dollar weeks, while common stock sales result in smaller acquisitions.

MSTR Tests Wedge Support

Strategy is showing weakness at $138. 

The stock has declined from $340+ highs over five months but is carving higher lows inside a tightening ascending wedge since the February low near $107.

The upper boundary has capped every rally attempt, most recently rejecting price from $148 last week. 

Today’s pullback toward the Bollinger Band midline at $150.12 and 20 EMA at $138.76 tests the wedge structure. 

A clean hold above $135-$137 keeps the pattern intact, while a break below reopens the path toward the lower Bollinger Band at $124.08.

The EMA stack remains bearish with all four EMAs declining above price: 20 EMA at $138.76, 50 at $147.35, 100 at $178.52, and 200 at $223.12. 

MSTR has not traded above its 50 EMA since October 2025, framing this as recovery from a deep downtrend rather than a confirmed reversal.

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