Michael Saylor’s Strategy remains bullish on Bitcoin (BTC) acquisitions, with recent purchases offering traders hope of a wider rebound. The firm’s new big buys stand in sharp contrast to other crypto accumulations that rode the bull market’s frenzy.
Bitcoin Treasury Firms Under Pressure
The total amount of Bitcoin purchased by these firms surpassed 47,000 in March, 94% by Strategy. Data from Bitcoin Treasuries show firms deploying separate plans to hedge against market pressures.
For Strategy, its 44,377 tokens acquired last month point to determination in buying the dip. The company has consistently acquired assets in bear markets, growing its base over time. Michael Saylor’s pro-Bitcoin stance is a key factor for the firm, with the executive portraying Bitcoin as the safest hedge against inflation.
These purchases, especially during bull cycles, served as a base for wider institutional adoption seen last year. Consequently, several traditional firms rolled out crypto arms to acquire Bitcoin and other assets. Others simply floated new firms strictly for acquisitions and portfolio diversification.
However, amid recent headwinds, these firms are on a selling spree, tanking sentiment. Per the data, nine treasury companies sold 22,000 BTC last month, bringing net sales down to 25,000 BTC. A look at previous months shows a significant drop compared to the 87,000 high in July 2025.
 
In February, outflow surpassed inflows, ending a 30-month red wave in turmoil. The window saw massive sales from institutions and retail traders, coupled with miner panic as prices dropped over 30%. In January, net sales grew to 41,000 BTC above the average in Q4 2025.
Strategy’s confidence in Bitcoin bets remains a key driver of retail interest. Aside from the company, American Bitcoin scooped up 961 BTC while Gemini and Strive picked up 617 BTC and 496 assets, respectively. Procap BTC and DDC Enterprise bought 450 and 265 assets, taking the number to 3,000 BTC.
Meanwhile, MARA Holdings led sales with 15,133, Exodus Movement offloaded 1,084 BTC while Empery Digital and KindlyMD sold 579 BTC and 340 BTC respectively.
“We currently record GameStop’s collateral pledge of 4,709 BTC as a reduction. This reduced the company’s Bitcoin holdings to just 1 BTC and recategorized $368.3 million as digital assets receivable in dollar value, per its 10-K filing. We may revise our representation of its holdings based on various factors,” they added.
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