TLDR
- Strategy holds 717,722 BTC at an average price of 76,020.
- The reserve is worth 48.15B with a 6.41B unrealized loss.
- Short interest in Strategy stock has reached 14 percent.
- BIP 360 proposes P2MR but is not an activated change.
Michael Saylor has indicated that Strategy may continue buying Bitcoin despite a multibillion dollar paper loss. The company’s Bitcoin reserve is now valued at 48.15 billion dollars as of March 1, 2026. However, the position shows an unrealized loss of about 6.41 billion dollars.
Strategy holds 717,722 BTC with an average purchase price of 76,020 dollars. The reserve is currently down 11.76 percent. Even so, Saylor maintains that long term accumulation remains intact.
Bitcoin Holdings and Market Pressure
A reserve tracking dashboard shows 100 purchase events between 2020 and 2026. Orange markers identify buying periods across rallies and corrections. A dashed green line tracks the evolving average purchase price.
The data reflects steady accumulation during both rising and falling markets. This pattern aligns with Strategy’s public statements on long term Bitcoin exposure. The company rebranded from MicroStrategy and continues to tie its balance sheet to Bitcoin performance.
Meanwhile, Bitcoin has declined nearly 50 percent from its recent highs. Altcoins have also moved below key resistance levels. As a result, sentiment around crypto linked stocks has weakened.
Strategy has become the most shorted U.S. stock with a market cap above 25 billion dollars. Bearish bets now represent 14 percent of its stock value. Short sellers are positioning for further downside amid market volatility.
Saylor on Quantum Computing Risks
Saylor has also addressed renewed concerns about quantum computing. On Natalie Brunell’s Coin Stories podcast, he said a credible quantum threat is likely more than a decade away.
He stated that Bitcoin would adapt before such technology becomes practical. “Bitcoin is software, and software can change,” Saylor said. He added that stronger cryptography and updated standards would be introduced if needed.
His position centers on signature security rather than mining power. Some market participants argue that quantum computers could outpace proof of work. However, researchers note that the more direct risk involves public key cryptography.
Large scale quantum machines could use Shor’s algorithm to target digital signatures. This would affect exposed public keys on chain. Outputs that reveal keys during spending may face higher exposure.
BIP 360 and Upgrade Coordination
Bitcoin developers have published BIP 360 in the public proposals repository. The proposal introduces Pay to Merkle Root, or P2MR, as a new output type through a soft fork.
P2MR aims to avoid certain Taproot spending paths that reveal public keys. It is presented as groundwork that may support future post-quantum upgrades. However, publication does not mean activation. The proposal may remain under discussion for an extended period.
Saylor’s argument depends on coordination across the network. Wallet providers, exchanges, and custodians would need to support any upgrade. Users would also need to move funds to new address types.
Some developers favor earlier preparation for quantum resistant systems. The Ethereum Foundation has listed quantum readiness among its 2026 priorities. Vitalik Buterin has also supported accelerated planning.
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