What do you get when you combine an MIT trained aeronautical engineer obsessed with accumulating as much Bitcoin as possible with AI helping him design new strategies to stack more?
You get STRC, Strategy’s preferred stock program, which appears to have hit critical mass this week, enabling Saylor to make massive Bitcoin purchases while price sits 40% below its highs and MSTR mNAV hovers near 1.
We may be entering uncharted territory. Saylor might have built the ultimate Bitcoin accumulation machine.
Other top stories from the week include:
Bitcoin issuance reaches a major milestone.
Paraguay turns on digital nomads with new crypto reporting rules.
Coinbase accused of lobbying for stablecoin exemptions at Bitcoin’s expense.
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Adoption
Bitcoin’s mined supply has surpasses 20 million BTC, 17 years after the 2009 genesis block. With issuance now just 3.125 BTC per block, the final one million coins will take over a century to mine.
11-year study finds Bitcoin highly resilient to submarine cable failures. Researchers estimate 72% to 92% of global connections must fail to disrupt nodes, while 87% of real faults caused minimal impact.
Andreas Antonopoulos says he will stop producing livestreams and new content due to ongoing health issues, including debilitating migraines, as the Bitcoin community rallies around him in support.
Regulation
JPMorgan faces a class action lawsuit alleging the bank enabled a $328M crypto Ponzi scheme that defrauded more than 2,000 investors by processing hundreds of millions in deposits.
Paraguay is requiring residents with over $5,000 in annual crypto activity to report detailed transaction data, including addresses, and amounts, dramatically expanding government visibility into Bitcoin use.
SEC and CFTC sign a historic agreement to coordinate oversight, reduce duplicative rules, and modernize financial regulation, launching a joint initiative to align market policy and clarify rules for crypto.
Markets
Ark Labs raises $5.2M from backers including Tether to build programmable financial infrastructure on Bitcoin, beginning with support for stablecoin transactions.
Major US banks are considering suing the OCC over new rules easing national trust bank charters for crypto firms, arguing the move allows fintechs to offer banking services without equivalent oversight.
Bitcoin has outperformed gold by nearly 20% since the outbreak of the conflict with Iran.
Treasury
Strategy’s STRC preferred stock generated enough capital in a single day to fund a record-breaking purchase of about 4,000 BTC, pushing the week’s estimated total above 10,000 BTC from STRC proceeds.
Strive boosts SATA preferred dividend to 12.75%, purchases 179 BTC bringing holdings to 13,311, and acquires $50M of Strategy’s STRC (representing over one third of its treasury reserves.
Stack BTC, a Bitcoin treasury company led by former UK Finance Minister Kwasi Kwarteng, announces Nigel Farage as a strategic investor
Mining
Hashrate Index finds rising oil prices have minimal impact on Bitcoin mining costs, with only about 6–10% of global hashrate operating in oil-sensitive energy markets such as the Gulf states.
OFAC issues new Venezuela licenses allowing US companies to supply technology and services to the country’s power sector, opening the door for American Bitcoin mining firms to invest.
Alibaba’s ROME AI model, during a training run, diverted cloud GPU resources to mine cryptocurrency without instructions, triggering security alerts from Alibaba Cloud’s firewall system.
Politics
Coinbase is reportedly lobbying lawmakers to block a Bitcoin de minimis tax exemption while supporting the rule for stablecoins, a move critics say protects the firm’s growing stablecoin revenue model.
Russia shuts off mobile internet in Moscow while testing a nationwide “sovereign internet” system designed to control communications and restrict information during unrest.
Bhutan has sold $42.5M worth of Bitcoin in 2026, moving another 175 BTC as its national holdings fall from roughly 13,000 BTC at peak to under 5,400 in just over a year.
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Bam’s 2 Sats
Strategy’s Bitcoin Machine is Speeding Up
$STRC becomes the center of attention
The week began with the usual Saylor post announcing how much Bitcoin Strategy bought the previous week. But this time felt different. The company revealed what appears to be its largest bear market purchase yet, just under 18,000 BTC. Now, with forecasts for the next buy ranging from 30,000 to 40,000 BTC, that record may soon be shattered.
As the week progressed, the focus shifted to Strategy’s preferred stock, $STRC. The previous week it sold enough shares to buy nearly 5,000 BTC, and with extended hours trading now enabled, estimates suggest that figure could approach 12,000 BTC.
bitcoinquant.co
It’s also important to remember that Strategy doesn’t rely on preferred stock issuance alone. The company frequently uses its common stock ATM alongside preferreds, structuring these raises so the Bitcoin it buys is backed by a much larger base of Bitcoin already held on its balance sheet.
Because of this structure, Strategy often issues common stock at roughly a 2-or 3-to-1 ratio compared to preferred stock. If that pattern holds, it’s possible the latest purchase could exceed 30,000 BTC, potentially putting MSTR ahead of BlackRock in holdings and moving it closer to 800,000 BTC.
A demand shock starts to look plausible
That quickly captured everyone’s attention, and the narrative of “STRC as MSTR’s iPhone moment” began circulating again. The difference this time is that it’s being supported by real, positive data rather than pure speculation.
Some also resurfaced old Saylor posts asking what would happen if a single investor absorbed the entire daily mining supply throughout the 450 BTC subsidy era and later increased that pace to 1.5x once issuance drops to 225 BTC per day.
What many once dismissed as unlikely, largely because of the obvious question of where the capital would come from, is now beginning to look far more realistic.
It may still be too early to say for certain, but for now $STRC appears capable of attracting the kind of insatiable demand Lyn Alden predicted last year. Instruments like this, combined with Strategy imitators across the industry, could keep Bitcoin demand consistently above new supply. At least until price adjusts.
by jesse myers
I guess we’re about to find out. What may be most remarkable is that Bitcoin is in a bear market, yet a single company could accumulate 100K BTC in one quarter while price remains over 40% below its all-time high.
What a time to be alive.
- Bam
Open Bar @ Pubkey
Shoutout to all the Bitcoiners in and around New York City.
Join the Daily Stack for their inaugural “Stack n Sip” event this Thursday 19th March @ PubKey at 6 - 8 PM ET
[First 50 People Get Drinks Bracelets]
