Strategy powers 94% of March’s 47,000 BTC buying as others continue to sell

March saw public Bitcoin treasuries accumulate more than 47,000 BTC, once again powered almost entirely by Michael Saylor’s Strategy.

Strategy added 44,377 of that total, or 94% of monthly additions across the sector. That includes Strategy’s massive 22,305 BTC one-week purchase, funded by $1.18 billion in proceeds from STRC ATM sales and $396 million from MSTR ATM sales.

Elsewhere, sales and holdings reductions brought down growth: nine public companies reduced holdings by 22,000 BTC, shrinking net growth to 25,000 BTC.

This coincides with slow buying activity throughout the rest of the sector. Before accounting for sales, about 15 companies other than Strategy added just 3,000 BTC this month — marking one of the weakest buying months on record. 

Yet sales and moderate buying are capable of reshuffling the leaderboards.

MARA Holdings’ sell-off lifted Twenty One Capital (XXI) to second place, while American Bitcoin’s additions pushed it to #16 above Galaxy Digital. Even small buyers got a chance to climb up the charts with small purchases: DDC Enterprise is now #31, Hyperscale Data is now #57, Vanadi Coffee is #84, and BTCS S.A. is #87.

The largest treasury additions this month: 

• Strategy bought 44,377 BTC, again dominating monthly purchases

• American Bitcoin added 961 BTC over three dates, now holding 7,000 BTC

• Gemini’s holdings increased by 617 BTC from our previous entry, as the latest data indicates that the firm held 4,619 BTC received through related party loan arrangements at the end of Q4 2025

• Strive added 496.08 BTC in March across two purchases

• Procap BTC bought 450 BTC amidst an aggressive share repurchase program

• DDC Enterprise added 265 BTC across two purchases

Companies that sold or reduced their Bitcoin holdings this month include MARA Holdings (-15,133 BTC), Exodus Movement (-1,084 BTC), Empery Digital (-579 BTC), KindlyMD (-340 BTC), Cango (-331 BTC), Fold Inc. (-178 BTC), Cleanspark (-150 BTC), and The London Bitcoin Company (-5.71 BTC).

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.

BitcoinTreasuries.net continues to monitor treasury shifts in our monthly corporate adoption report. Our February report focused on Strategy’s continued sector domination, institutional adoption of digital credit, and premium returns on STRC.

We’re set to publish our March report in the coming weeks, detailing the leaderboard shuffle, STRC’s breakout trading volumes, and much more.

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