TLDR
- MicroStrategy holds 762,099 BTC after adding 41,000 in March
- MSTR stock is down 57% year to date despite continued buying
- Shares outstanding rose about 53% during 2025
- Preferred dividend rate increased to 11.25% in 2026
- Bitcoin traded at $71,020 at the time of writing
MicroStrategy shares have dropped 57% this year, yet the company continues to buy Bitcoin in large amounts. The firm added over 41,000 BTC in March alone, extending a long buying streak. Despite weak stock performance and rising dilution, the strategy remains unchanged as Bitcoin traded at $71,020 at the time of writing, drawing strong market attention.
MicroStrategy Extends Bitcoin Buying Despite Stock Decline
MicroStrategy has continued its Bitcoin purchases even as its stock declined sharply in 2026. The company completed its 12th straight week of buying during March. It added more than 41,000 Bitcoin in that period.
The firm now holds 762,099 BTC, making it the largest corporate holder globally. At the time of writing, Bitcoin traded at $71,020. This price places the company’s holdings about 12% below its average cost basis.
🚨 MARKETS: STRATEGY (MSTR) DOWN 57% YTD BUT STILL BUYING BITCOIN BY THE BILLIONS
The most polarizing trade in crypto keeps getting more polarizing.@MicroStrategy's MSTR is trading around $136. Down 57% year-to-date. Worst performer in the Nasdaq 100. Meanwhile, the company… pic.twitter.com/d1pYlvoreF
— BSCN (@BSCNews) March 24, 2026
Market data shows the company’s shares trading near $136. This marks a 57% drop since the start of the year. The decline makes it the worst performer in the Nasdaq 100 during this period. Despite the stock movement, the company has not slowed its Bitcoin strategy. Executive Chairman Michael Saylor has maintained a consistent approach to accumulation.
Rising Dilution and Capital Structure Changes Draw Attention
MicroStrategy has increased its share count to fund continued Bitcoin purchases. Shares outstanding expanded by about 53% during 2025. The company also raised its authorized Class A shares to 10.33 billion.
In addition, the firm has issued preferred stock to support funding needs. The STRC preferred dividend rate rose to 11.25%, up from 9% earlier in the year. This preferred layer now totals about $3.4 billion. The preferred stock ranks above common equity in the capital structure. This shift has raised concerns among some market participants. The combination of dilution and higher dividend obligations adds pressure to future returns.
Market indicators reflect mixed sentiment. Reddit sentiment scores stand at 28 out of 100. Options activity shows increased interest in December put contracts. Polymarket data assigns an 8% chance of a margin call in 2026. It also shows a 13% probability that the company sells Bitcoin before year-end.
Analyst Outlook and Market Positioning Remain Divided
Analyst coverage remains largely positive despite recent performance. Thirteen out of fourteen analysts rate the stock as a buy. The consensus price target stands near $333. The company has introduced a Bitcoin yield metric, which shows 1.2% growth year to date. This metric tracks Bitcoin accumulation relative to shares outstanding.
At the same time, the market value to net asset value ratio has dropped below one. This suggests the stock trades close to the value of its Bitcoin holdings. Some investors view MicroStrategy as a leveraged Bitcoin vehicle rather than a software firm. The company’s strategy ties its performance closely to Bitcoin price movements.
Market data indicates that participants expect the company to hold its Bitcoin. Betting markets show low probabilities for large-scale selling in 2026. MicroStrategy continues to operate with a high exposure to Bitcoin price changes. Its strategy remains consistent despite stock volatility and evolving capital structure conditions.
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