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Strategy buys 3,015 BTC for $204M as holdings climb past 720K

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Strategy buys 3,015 BTC for $204M as holdings climb past 720K

Strategy Inc has purchased 3,015 Bitcoin for about $204 million, lifting its total holdings to 720,737 BTC despite ongoing market weakness.

Summary

  • Strategy bought 3,015 BTC at an average price of $67,700.
  • Total holdings now stand at 720,737 BTC worth about $54.77B.
  • The purchase was funded mainly through ATM share sales.

Strategy has added more Bitcoin (BTC) to its balance sheet after spending over $200 million on a fresh purchase, continuing its long-running effort to build one of the largest corporate crypto treasuries in the world.

On March 2, Strategy Inc revealed in a regulatory filing that it bought 3,015 BTC between February 23 and March 1 at an average price of $67,700 per coin, taking total holdings to 720,737 BTC.

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Funding the latest Bitcoin purchase

The company spent about $204.1 million on the acquisition, using mainly proceeds from its at-the-market share sales and preferred stock offerings. During the same period, Strategy raised roughly $237.1 million, leaving part of the funds as a cash reserve.

With this purchase, Strategy’s total Bitcoin acquisition cost has reached around $54.77 billion. Its average cost basis now stands at about $75,985 per BTC.

At current market prices, the company’s Bitcoin holdings are valued at roughly $47 billion to $47.5 billion. This places Strategy at an estimated unrealized loss of between $7 billion and $9 billion, depending on price movements.

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Strategy’s Class A shares trade on the Nasdaq Global Select Market under the ticker MSTR. The stock is down about 50% over the past year and 18% year-to-date, tracking Bitcoin’s recent decline.

The latest deal marks the company’s tenth straight weekly Bitcoin purchase. Its approach remains focused on raising capital and converting it directly into BTC to increase per-share exposure.

Financial pressure and long-term strategy

While Strategy continues to buy, the weak market has weighed on its financial results. Since early 2025, the company has used fair-value accounting for digital assets, which requires marking Bitcoin holdings to market.

In the fourth quarter of 2025, Strategy reported a $12.4 billion net loss, driven largely by unrealized crypto losses. Its core software business remains small, making overall performance closely tied to Bitcoin prices.

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To limit dilution from issuing new common shares, the company has relied more on preferred stock. In February, it raised the dividend rate on its Variable Rate Series A preferred shares to 11.50%.

Executive chairman Michael Saylor has continued to support the company’s long-term holding strategy, arguing that Bitcoin should be treated as a primary reserve asset.

Analysts remain divided. Supporters say buying during downturns could pay off if prices recover above the company’s cost basis. Critics warn that extended weakness could deepen losses and strain investor confidence.

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Crypto World

David Miller Chosen to Head CFTC Enforcement While Crypto Role Increases

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR

  • The CFTC appointed former federal prosecutor David Miller to lead its enforcement division as its crypto oversight role expands.
  • Chair Michael Selig said Miller will focus on policing fraud, abuse, and manipulation while the agency increases staffing efforts.
  • Miller stated he is honored to join the CFTC during what he described as a major period of change for digital asset regulation.
  • Lawmakers continued advancing bills that could broaden CFTC authority over crypto markets and related platforms.
  • Recent reports raised concerns about enforcement staffing at both the CFTC and the SEC after reductions in crypto cases.

The Commodity Futures Trading Commission (CFTC) advanced its enforcement plans on Monday as Chair Michael Selig appointed David Miller to lead the division. The move came as the agency expanded its oversight of digital assets and prediction markets. The appointment followed rising questions about enforcement capacity across federal market regulators.

CFTC Enforcement Leadership Shift

The agency named Miller after he handled complex digital asset matters in both government and private practice. The CFTC said his background supports its effort to direct more resources toward market oversight.

Selig stated that Miller brings “decades of experience” that will guide work on fraud, abuse, and manipulation cases. He added that Miller’s approach will reflect a focus on policing markets rather than shaping policy.

Miller said he was “honored and thrilled” to join the agency during what he called a major moment. He also said he appreciated the trust placed in him by Selig.

Crypto Oversight and Agency Staffing

Lawmakers continued to work on bills that could expand CFTC jurisdiction over crypto markets. These proposals would broaden federal roles and create clearer oversight rules. The industry watched staffing levels closely as both the CFTC and Securities and Exchange Commission restructured their enforcement teams. Reports said the CFTC’s Chicago office recently operated without enforcement attorneys after several departures.

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Selig addressed those concerns and said the agency has enough resources to handle its caseload. He also said the CFTC will keep adding personnel to strengthen supervision.

At the SEC, Chair Paul Atkins faced questions about reduced enforcement activity. Lawmakers asked about the drop in digital asset cases and demanded clarity.

Enforcement Trends Across Federal Regulators

Cornerstone Research reported a 30% drop in SEC enforcement actions during 2025. Its data also showed a 60% decrease in crypto cases year over year. Atkins responded by saying the agency maintains a “robust enforcement effort” across its portfolio. He said the agency continues to follow existing rules.

Miller previously served at Greenberg Traurig and Morgan Lewis as a litigation partner. He focused on commodities, securities, digital assets, and national security. He also worked for nearly a decade as an assistant U.S. attorney in the Southern District of New York. The CFTC said this experience strengthens its enforcement program.

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Selig said Miller has a proven record of defending market participants from aggressive legal theories. He also said the appointment strengthens the division during rapid industry change. Miller will direct the agency’s enforcement priorities as regulators refine their approach to digital assets. His work begins as both federal regulators assess evolving market conditions.

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Iran Conflict and Economic Data: Events in Focus for 2-6 March

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Iran Conflict and Economic Data: Events in Focus for 2-6 March

Let’s discuss three upcoming events that may impact market activity across currencies, equities, and commodities.

✔️Washington and Israel struck Iran, the supreme leader of Iran Ayatollah Khamenei was killed. Iran retaliated, escalating tensions.

Oil jumped over 8%, global stocks fell, and so-called safe-haven assets rose. A Strait of Hormuz disruption could push oil sharply higher and increase recession risks (in our previous video, we outlined possible scenarios if US–Iran tensions escalate further.

✔️ The US Nonfarm Payrolls and Unemployment Rate will arrive on 6 March.

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January’s strong jobs data pushed rate-cut expectations further out and caused a mixed market reaction. This week’s report could drive sharp moves in major USD pairs and US stock indices.

✔️The ISM Manufacturing PMI and ISM Services PMI will be released on 2 March and 4 March, respectively.

Following the first expansion signal in US manufacturing activity in twelve months — and the strongest improvement since 2022 — the upcoming ISM Manufacturing PMI release may become an early-week catalyst for US dollar positioning.

January’s ISM Services PMI confirmed resilience in the dominant sector of the US economy, and another strong reading would reinforce expectations that Federal Reserve policy will remain restrictive for longer, underpinning the USD.

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Traders should stay alert — disciplined risk management will be key in the days ahead.

Gain insights to strengthen your trading knowledge.

Watch it now and stay updated with FXOpen.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Northern Trust Launches Tokenized Treasury Money Market Fund Share Class

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BIS, BlackRock, RWA, RWA Tokenization

Northern Trust Asset Management has launched a tokenized share class of its NIF Treasury Instruments Portfolio, marking its entry into the digital assets market, according to the company. 

The structure uses distributed ledger technology to maintain a digital mirror of share ownership, while the underlying portfolio continues to invest in short-term US Treasurys.

According to Monday’s announcement, the shares will initially be offered through BNY’s LiquidityDirect platform, which operates on Goldman Sachs’ Digital Asset Platform. The fund itself does not use blockchain technology or invest in crypto assets. Instead, authorized intermediaries are expected to maintain a blockchain-based mirror of ownership records for clients.

The NIF Treasury Instruments Portfolio invests in a diversified pool of short-term US Treasury instruments and seeks to maintain a $1.00 per-share value, though it is not FDIC-insured and may lose value.

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