March 17th is a day worth circling on the calendar for Strategy, the largest Bitcoin “whale” among publicly listed companies globally, and its founder Michael Saylor. On this day, as the price of Bitcoin stabilized above $75,858 on trading platforms like Binance, this company, formerly known as MicroStrategy, officially turned its holdings from a prolonged state of "near loss" to profit.

According to on-chain data and market information, Strategy's holdings data as of March 15, 2026, is impressive: holding a total of 761,068 BTC, with a total cost of approximately $57.61 billion, bringing the average holding cost down to $75,696. Calculated at current prices, this substantial asset is not only no longer at a floating loss but has also generated about $120 million in floating profit, with an increase of approximately 0.21%.

Behind this seemingly small "0.21%" is not only a victory of institutional faith but also reveals a new model and significance of directional indicators in the current cryptocurrency market cycle involving large capital operations. This article will deeply break down this landmark event combined with AiCoin's professional data tools perspective.

I. Strategic Turnaround: From "Near Loss" to "Precise Reversal"

Just a week ago, the market was still anxious for Saylor. Due to previously high acquisition costs, Strategy's average holding price approached $76,052, creating a "death spiral" with Bitcoin's spot price, driving paper profits nearly to zero, and even entering technical losses at one point. However, the massive ship steered by Saylor did not choose to sit back; instead, it took advantage of the market's volatility to execute a textbook-like dilution of cost strategy.

Data shows that Strategy has demonstrated an astonishing ability to accumulate over the past two weeks:

● The week before last (March 2-8): Spent approximately $1.28 billion to increase holdings of 17,994 BTC, average price about $70,946;

● Last week (March 9-15): Invested another $1.57 billion to increase holdings by 22,337 BTC, bringing the average further down to $70,194.

With this nearly $2.85 billion capital infusion over two weeks, Strategy successfully reduced its overall holding cost by nearly $400, precisely locking in at a critical position for this round of Bitcoin's upward trend. This resolve of "big drops attract big buys, small drops attract small buys, and even without drop, buy" appears particularly clear with the one-click data tracking tool on the AiCoin platform.

Users can monitor the inflow and outflow dynamics of the Strategy address in real time via AiCoin’s “Whale Tracking” or “Institutional Holdings” dashboard, and can even visualize the deviation between the average institutional holding price and the current price through candlestick overlays. For ordinary investors, this is not only a spectator's feast but also a significant reference coordinate for judging market bottom support and institutional psychology.

II. Financing Evolution: STRC Preferred Shares as a New "Ammunition Depot"

Supporting Strategy’s massive "shopping spree" is not only market confidence but also its continuously innovative financing magic.

In the past, Strategy primarily relied on issuing stocks (ATM issuance) or convertible bonds for financing. However, according to ChainCatcher's analysis, last week’s increase in holdings marked a historic change: Strategy used perpetual preferred shares (STRC) as the main financing tool for the first time.

This shift is significant:

1. Reduce Common Stock Dilution: Since the company's common stock (MSTR) previously fell significantly, to avoid further dilution of existing shareholder equity, the company needed to find new avenues.

2. Massive Blood Infusion: Through STRC preferred shares, Strategy successfully financed $1.18 billion last week, equivalent to the purchasing power of about 16,800 Bitcoins, far exceeding the $396 million raised by the common stock ATM.

Despite the dividend rate reaching as high as 11.5%, bringing an interest burden of over $135 million per year, Strategy has set aside $2.25 billion in reserves for this purpose. This is tantamount to establishing a Bitcoin-specific "perpetual fund pool" in the global capital markets. In the macro data section of AiCoin, investors can analyze the relationship between interest rate changes and institutional financing costs to predict the stress resistance of such "leveraged whales" when facing market volatility. If Bitcoin prices experience sharp fluctuations in the future, the sustainability of this financing model will become a focal point of market attention.

III. More Than Just Holdings, But "Digital Capital of the AI Era"

Beyond the cold financial data, Michael Saylor has imbued this substantial holding with a highly contemporary "value narrative".

On the very day the holdings turned profitable, Saylor urged on social media: “The stronger AI gets, the more valuable Bitcoin becomes.” He published an extensive tweet indicating that if artificial intelligence is compressing the terminal value of companies, making the moats in the business world momentary and easily toppled, then capital will inevitably withdraw from traditional assets that can be easily disrupted by AI, and flow towards assets that are unaffected by disruption risks.

Saylor believes that Bitcoin, as "digital capital," possesses absolute scarcity, neutrality, and resistance to AI disruption. In other words, in a future where AI can write code, design, and even replace middle management, only decentralized Bitcoin, not created by any centralized entity, can serve as a constant measure of all value.

This viewpoint elevates Bitcoin from merely an “anti-inflation” attribute to a strategic reserve status against uncertainties of the AI era. To verify this macro logic, AiCoin’s “Fear & Greed Index” and “Long/Short Ratio” data can provide indirect evidence. When institutions begin to search for new anchors for Bitcoin at a grand narrative level, the market's retail sentiment often shifts from initial skepticism to FOMO (fear of missing out) following. Through AiCoin’s real-time data, users can clearly see whether primary market funds are continuing to increase their positions or taking the opportunity to distribute.

IV. AiCoin Perspective: How to Capture "Whale" Movements and Market Opportunities

The changes in Strategy's holdings are not just internal affairs of the company, but also macro indicators of the cryptocurrency market. Currently, the 761,068 BTC held by Strategy accounts for about 3.6% of the total circulating supply of Bitcoin. Such a colossal volume means that every breath they take will trigger market waves.

As a professional market analysis platform, AiCoin helps users stay ahead of similar market conditions through the following features:

1. Visualizing Holding Costs: For whales like Strategy, their holding cost line is often an important support or bull-bear dividing line in a bull market. AiCoin's professional chart tools allow users to customize and add “institutional cost lines,” and when the price fluctuates around $75,696, the system will remind investors of the trading significance at that price level.

2. On-Chain Anomaly Monitoring: Compared to regular addresses, Strategy's address has already been tagged. In AiCoin’s “On-Chain Large Order Monitoring,” users can subscribe to the dynamics of that address. Once Saylor transfers funds or inflows/outflows to exchanges, users can receive APP push notifications immediately without having to watch the market all the time.

3. Airdrop Radar and Potential Opportunities: Although Strategy's scale is not comparable to retail investors, its derived ecological opportunities cannot be ignored. For example, due to Strategy's strong buying pressure on BTC, changes in on-chain liquidity may lead to rotation of related BRC-20 ecology or Bitcoin's Layer 2 networks (L2). AiCoin’s “Airdrop Radar” feature can help investors sift through the complex financing information to identify Bitcoin ecological projects that may benefit from large whale buying activity, achieving precision capture and transforming institutional behavior into retail profit opportunities.

V. Future Outlook: Charging Towards 1 Million Coins as a “Bitcoin Central Bank”?

As this increase in holdings is completed, the market has begun to speculate on the next target. According to calculations, if Strategy aims to hold 1 million BTC by the end of 2026, this means an average increase of about 6,000 coins per week in the future, which requires continuous capital influx.

Saylor is transforming Strategy into a de facto "Bitcoin Standard Company", or even a "Private Bitcoin Central Bank." As the holdings scale moves from 760,000 to 1 million, its extraction of market liquidity will become increasingly apparent, which will in turn force more traditional institutions and publicly listed companies to follow suit, thereby forming a new round of positive feedback for “institutional bull markets.”

However, risks also exist. This financing model, which heavily relies on the capital market, is essentially a “leverage amplifier”:

● When BTC increases → stock price rises → financing is easy → buy BTC again (positive spiral);

● When BTC decreases → financing becomes difficult → high interest pressure → possible sell-off (negative spiral).

Currently, with a slight floating profit of 0.21%, Strategy has temporarily navigated through the most dangerous "break-even zone." However, it leaves the market with a lingering question: In an era where AI disrupts everything, is Saylor correct, or is the traditional financial risk control model correct? Perhaps the answer lies within each fluctuation of Bitcoin's future candlestick, as well as every second of data provided by AiCoin.

March 17th's "turning profit" is not only a highlight moment after more than a decade of perseverance for Strategy but also a new footnote marking the entry of the cryptocurrency market into the "institutional leadership phase." When the massive 760,000 BTC vessel turns its direction, it will inevitably stir up colossal waves. For ordinary investors, rather than guessing the direction of the wind, it is better to use data tools like AiCoin to clearly see the path of the wind and find their own safe harbor.

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