Bitcoin Treasuries Report: Strategy Buys 44,377 BTC in March 2026 as STRC Volume Hits $746M Record

Key Takeaways:

• Strategy bought 44,377 BTC successful March, present holding 762,099 BTC and two-thirds of each nationalist institution holdings.
• MARA Holdings sold 15,133 BTC to discontinue debt, letting Twenty One Capital assertion the No. 2 treasury spot.
• Strategy’s $42B ATM filing could propulsion holdings past 1 cardinal BTC by November 2026 astatine a 31,000 BTC/month pace.

Bitcointreasuries.net Report Shows BTC Treasury Leaderboard Reshuffled

The study shows the institution spent astir $3 cardinal connected bitcoin during March, including a single-week acquisition of 22,337 BTC disclosed connected March 16. That bargain was funded by $1.57 cardinal raised done STRC and MSTR at-the-market income from March 9 to 15.

Bitcointreasuries.net researchers enactment that STRC, Strategy’s variable-rate perpetual preferred stock merchandise targeting an yearly dividend adjacent 11.5%, recorded its highest single-day trading volume connected March 12 astatine $746 million. March 31 produced the second-largest regular volume connected grounds astatine $522 million, portion play volume reached $2.27 cardinal for the week of March 9 to 13.

Data compiled by the analysts shows Strategy ended March holding 762,099 BTC, which represents astir two-thirds of each bitcoin held by publically traded companies. Total nationalist institution holdings reached 1.16 cardinal BTC astatine month-end, portion of astir 4 cardinal BTC tracked crossed each organization entities.

The researchers further item that the institution filed to rise an further $42 cardinal done a caller ATM programme divided evenly betwixt STRC and MSTR communal stock, positive $2.1 cardinal successful STRK. Bitcointreasuries.net projects that if Strategy issues that afloat magnitude implicit 19 months astatine astir 31,000 BTC per month, it could transverse 1 cardinal BTC successful holdings by November 2026.

A much blimpish estimation cited successful the analysis, based connected Strategy’s mean monthly purchases of 21,000 BTC from January 2025 done March 2026, points to the institution reaching that milestone astir March 2027. The researchers adhd that Strategy has not publically acceptable a 1 cardinal BTC people oregon immoderate circumstantial acquisition deadline.

The leaderboard beyond Strategy shifted considerably, according to bitcointreasuries.net. MARA Holdings sold 15,133 BTC, worthy astir $1.1 billion, to repurchase convertible elder notes. That merchantability dropped MARA beneath Twenty One Capital, which present holds 43,514 BTC and ranks 2nd among nationalist bitcoin treasury companies. Metaplanet added 5,075 BTC successful aboriginal April, bringing its holdings to 40,177 BTC and placing it third, up of MARA.

The study besides notes that Gamestop pledged 4,709 BTC arsenic collateral successful a covered telephone statement with Coinbase Credit, leaving the institution with conscionable 1 BTC successful nonstop holdings. The institution fell from its erstwhile presumption astatine No. 21 connected the leaderboard to adjacent No. 190.

Excluding Strategy from the dataset, bitcointreasuries.net researchers item that firm bitcoin buying declined sharply. Purchases by non-Strategy companies person fallen since October 2025, and March saw a nett merchantability of 22,510 BTC among that group. Only 16 companies added bitcoin connected a nett ground successful March, down from a highest of 60 successful September 2025.

The survey further identifies 5 companies buying STRC oregon disclosing plans to bash so. Strive allocated $50 million, implicit one-third of its firm treasury, to STRC, portion decentralized finance ( defi) stablecoin task Apyx held 450,000 STRC shares by April 6, valued astatine astir $45 million. Prevalon Energy, Anchorage Digital, and OranjeBTC besides disclosed STRC allocations without specifying amounts.

According to bitcointreasuries.net analysts, communal funds and exchange-traded funds (ETFs) collectively clasp much than $2 cardinal successful integer recognition instruments, based connected Yahoo Finance data. STRC is the astir wide held of those instruments astatine $591 million, with Capital Group, Blackrock, Fidelity, and Vaneck among the organization holders.

The researchers besides constituent to caller fiscal products built astir STRC emerging successful March. 21shares launched a STRC exchange-traded merchandise listed connected Euronext Amsterdam and Euronext Paris, portion Arch Lending began promoting a transportation commercialized allowing bitcoin holders to get astatine 8.49% APR and put proceeds successful STRC astatine the existent 11.5% yield. Decentralized concern (DeFi) projects Apyx and Saturn are besides gathering stablecoins backed by STRC dividends.

Finally, the bitcointreasuries.net reporting shows American Bitcoin acquired 961 BTC crossed 3 purchases successful March, the second-largest monthly full among each non-Strategy companies, overtaking Galaxy Digital to scope No. 16 connected the leaderboard with astir 6,899 BTC.