Key Highlights
- Between April 1 and April 5, Strategy acquired 4,871 Bitcoin for approximately $329.9 million, paying an average of $67,718 per token.
- This acquisition marks the end of a brief two-week hiatus, interrupting what had been a 13-week unbroken buying pattern throughout 2026.
- Strategy’s total Bitcoin portfolio has reached 766,970 coins, with an average acquisition cost of $75,644 per token.
- First quarter 2026 financials revealed a $14.46 billion unrealized loss on digital holdings, offset by a $2.42 billion deferred tax advantage.
- Following the announcement, Bitcoin traded near $69,589, reflecting a 3.4% increase over the previous 24-hour period.
Strategy has renewed its Bitcoin accumulation strategy. The firm announced Monday that it secured 4,871 Bitcoin during a five-day window from April 1 through April 5, spending approximately $67,718 for each coin in a transaction totaling $329.9 million.
This transaction concludes a two-week interruption that halted Strategy’s 13-week consecutive purchasing campaign — marking the company’s first departure from its weekly acquisition routine in 2026.
Executive Chairman Michael Saylor hinted at the upcoming purchase during the Easter holiday weekend. On April 3, he shared the message “It’s a Good Friday to buy Bitcoin.” Two days later on April 5, he posted a visualization of historical acquisitions with the caption “Back to Work,” stylizing the letter “B” with Bitcoin’s logo.
The company financed this latest acquisition through equity offerings, including both preferred and common stock sales. Strategy disposed of approximately 2.28 million shares of its variable rate Series A perpetual Stretch preferred stock (STRC), generating net proceeds of $227.3 million during March 30–31. Subsequently, an additional 1.03 million Stretch preferred shares were sold for $102.6 million from April 1–6. The sale of 593,294 class A common shares contributed another $72 million.
Significant Unrealized Losses Accumulate
Strategy’s cumulative Bitcoin position has grown to 766,970 tokens, purchased at an average cost basis of $75,644 per coin. This average acquisition price sits considerably higher than Bitcoin’s current market valuation.
The enterprise disclosed a $14.46 billion unrealized loss on its digital asset portfolio for the first quarter of 2026. Associated with this loss, the company recognized a $2.42 billion deferred tax benefit.
Bitcoin has been trading substantially below its late-2025 highs. The cryptocurrency reached peak levels exceeding $125,000 before retreating to the current $69,000 vicinity, pressured by broader technology sector weakness and geopolitical tensions surrounding the conflict in Iran.
At press time, Bitcoin had appreciated 3.4% during the preceding 24-hour trading session to reach $69,589.
Strategy’s Stock Premium to Bitcoin Holdings
Strategy’s equity valuation compared to its Bitcoin reserves — measured as its multiple of net asset value, or mNAV — registered at 1.09 on Monday. This metric indicates the market is currently valuing Strategy at a 9% premium above the worth of its cryptocurrency holdings.
Should mNAV decline beneath 1.0, it would signal that investors value the enterprise at less than the aggregate worth of its Bitcoin assets alone.
MSTR stock advanced 3.9% during Monday’s premarket session.
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