Michael Saylor’s MSTR Grabs 94% Of March Bitcoin Buys While MARA Leads 22K BTC Selloff

• MARA Holdings led corporate selling, reducing its Bitcoin holdings by over 15,000 BTC to manage debt.
• According to CryptoQuant, participation in Bitcoin buying has declined sharply, with far fewer companies actively accumulating compared to last year. 
• Firms outside Strategy now represent only a small fraction of total corporate Bitcoin purchases.

Michael Saylor’s Strategy (MSTR) drove corporate buying of Bitcoin (BTC) in March, while MARA Holdings (MARA) led a wave of selling among smaller holders, trimming overall additions. 

Bitcoin Treasuries data showed MSTR accounted for 94% of all 47,000 Bitcoins bought by public companies in March. However, nine digital asset treasury (DAT) companies reduced their overall holdings by 22,000 BTC, leaving a net addition of 25,000 to corporate balance sheets over the past month. 

MSTR’s stock rose 1.2% in pre-market trade on Wednesday, while Bitcoin’s price recovered to over $68,000. Retail sentiment around the Bitcoin proxy on Stocktwits improved to ‘neutral’ from ‘bearish’ territory over the past day and chatter rose to ‘high’ from ‘normal’ levels. The company ramped up the pace of Bitcoin accumulation in March before hitting pause this Monday.

One user on the platform said that while Saylor’s lack of Bitcoin purchases over the past week is “worrying,” they expect MSTR’s price to rise moving forward.

Another anticipated that MSTR’s stock would perform well on Wednesday, given the uptick in Bitcoin’s price.

Strategy Accounts for Nearly All Corporate Bitcoin Buying

Strategy added 44,377 Bitcoin in March, which accounts for 94% of the total monthly additions across the sector. American Bitcoin (ABTC) added 961 BTC over three dates, and now holds around 7,000 BTC on its balance sheet, while Gemini Space Station (GEMI) added around 617 BTC, and Strive (ASST) added 496 BTC.

The companies that sold their Bitcoin holdings in March were led by Mara Holdings (MARA), which reduced its stack by 15,133 BTC worth around $1.1 billion. It sold at a loss to cover debt. MARA was followed by GameStop (GME), which pledged 4,710 BTC as collateral to execute a covered call strategy with Coinbase (COIN) last week.

Fewer Companies Are Actively Buying Bitcoin

Smaller DATs like Exodus Movement (EXOD), Nakamoto (NAKA), and Volcon Inc. (VLC) also sold off a portion of their holdings. According to CryptoQuant data, the share of total corporate Bitcoin purchases by treasury companies that are not Strategy has fallen to just 2%, down from 95% in October 2025. 

It noted that participation has also narrowed. Companies outside Strategy made 13 separate bitcoin purchases over the past 30 days. In the “Bitcoin Treasury Summer” of August 2025, that figure stood at 54, according to the firm. The number of active buyers has dropped by 76%.

Read also: Bitcoin Reclaims $68K But Ethereum Outpaces Gains Ahead Of Trump's Iran Speech

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