Key Highlights
- Strategy acquired 13,927 bitcoin for approximately $1 billion from April 6 through April 12, paying an average price of $71,902 per bitcoin.
- The acquisition was entirely financed through the sale of 10 million STRC (Stretch) preferred stock shares.
- The company’s bitcoin treasury now totals 780,897 BTC, purchased for a cumulative $59.02 billion at an average entry price of $75,577.
- First quarter 2026 filings show Strategy holding $14.46 billion in unrealized losses on digital asset holdings.
- MSTR shares declined over 2.5% during pre-market hours after the Monday regulatory disclosure.
Strategy executed another substantial bitcoin acquisition totaling one billion dollars this past week, yet shares retreated in response. Here’s the breakdown.
The transaction, revealed through an SEC 8-K filing released Monday, encompasses activity from April 6 through April 12. Strategy accumulated 13,927 BTC at an average purchase price of $71,902 per unit. This addition elevates the company’s aggregate bitcoin position to 780,897 BTC — approaching the symbolic 800,000 bitcoin threshold with fewer than 20,000 coins remaining.
Across its entire acquisition history, the enterprise has allocated $59.02 billion toward bitcoin purchases, establishing an average cost basis of $75,577 per coin. With bitcoin currently hovering just under $71,000, the portfolio reflects a negative variance of several thousand dollars per bitcoin relative to the average acquisition cost.
Funding for this most recent purchase came exclusively from STRC proceeds — Strategy‘s perpetual preferred stock vehicle marketed under the “Stretch” brand. No shares of MSTR, STRK, STRD, or STRF were liquidated throughout this timeframe.
Record-Breaking STRC Issuance Week
Data from STRC.live indicates last week’s STRC share issuance ranked as the second-largest on record — approaching triple the volume of the preceding four-week average. Strategy modified its STRC distribution framework in early March, catalyzing a notable acceleration in recent issuance patterns.
The $1 billion capital raise via STRC shares directly funded the bitcoin acquisition, with net proceeds closely aligning with the transaction’s notional value.
Strategy has demonstrated aggressive accumulation behavior throughout 2026. The firm has amassed over 107,000 BTC during the current calendar year, representing one of its most concentrated buying campaigns to date.
The timing of last week’s transaction coincided with significant broader market developments. Cryptocurrency markets experienced upward momentum early in the week following announcements of a US-Iran ceasefire agreement, propelling bitcoin above $70,000 and temporarily breaching $73,000. Analysis from Nomura’s Laser Digital identified Strategy’s purchasing activity as a contributing factor to this rally, alongside $786 million in net inflows to spot bitcoin ETF products.
First Quarter Shows $14.46 Billion Paper Loss
Strategy disclosed $14.46 billion in unrealized losses on digital asset holdings for the first quarter of 2026. The company’s average acquisition price of $75,577 per bitcoin exceeds current market valuations, creating a theoretical deficit on balance sheet holdings.
The market momentum proved short-lived. Ceasefire negotiations collapsed over the weekend without reaching resolution. An April 13 naval blockade announcement triggered bitcoin’s retreat toward $71,000.
Laser Digital’s analysis anticipates continued price volatility leading up to the ceasefire deadline.
MSTR shares traded down more than 2.5% in pre-market activity Monday following the regulatory filing’s publication.
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