Key Points
- Strategy acquired 13,927 bitcoin for approximately $1 billion during the week of April 6–12, paying an average of $71,902 per bitcoin.
- The acquisition was entirely financed through the issuance of 10 million shares of STRC (Stretch), its preferred stock.
- The company’s bitcoin reserves now stand at 780,897 BTC, purchased for a cumulative $59.02 billion at an average entry price of $75,577.
- Strategy reported $14.46 billion in unrealized losses on its cryptocurrency holdings during Q1 2026.
- MSTR shares declined over 2.5% during pre-market hours following Monday’s regulatory disclosure.
Strategy added another billion-dollar chunk of bitcoin to its balance sheet last week, yet investor sentiment turned negative. Here’s the breakdown.
According to an 8-K regulatory filing submitted to the SEC on Monday, the acquisition occurred between April 6 and April 12. Strategy accumulated 13,927 BTC at an average acquisition price of $71,902 per unit. This latest transaction elevates the company’s total bitcoin position to 780,897 BTC — leaving Strategy fewer than 20,000 coins short of reaching the 800,000 milestone.
The enterprise software firm has deployed $59.02 billion toward bitcoin acquisitions since initiating its strategy, representing an average cost basis of $75,577 per coin. With bitcoin currently hovering around $71,000, the company’s average purchase price sits several thousand dollars above current market levels.
The funding for this purchase came exclusively from issuing 10 million shares of STRC — Strategy’s perpetual preferred equity instrument marketed as “Stretch.” The company did not sell any shares of MSTR, STRK, STRD, or STRF during this timeframe.
STRC Issuance Reaches Second-Highest Weekly Volume
Data from STRC.live indicates that last week’s STRC share issuance represented the second-largest weekly volume ever recorded — approximately triple the average from the preceding four weeks. Strategy modified its STRC sales framework in early March, a change that appears to have accelerated issuance velocity in recent weeks.
The $1 billion capital raised through STRC shares was directly channeled into the bitcoin acquisition, with net proceeds aligning closely with the purchase amount.
Strategy has maintained an aggressive accumulation posture throughout 2026. The firm has added over 107,000 BTC year-to-date, representing one of its most concentrated buying periods since launching the bitcoin treasury strategy.
The timing of last week’s acquisition coincided with significant macroeconomic developments. Digital asset markets experienced a rally early in the week following announcements of a US-Iran ceasefire agreement, with bitcoin recovering the $70,000 level and briefly surpassing $73,000. Analysis from Nomura’s Laser Digital cited Strategy’s purchasing activity as a contributing factor to this upward movement, alongside $786 million in net inflows to spot bitcoin exchange-traded funds.
First Quarter Shows $14.46 Billion in Paper Losses
Strategy disclosed $14.46 billion in unrealized losses on its digital asset portfolio for the first quarter of 2026. With an average cost basis of $75,577 per coin exceeding current trading prices, the company’s bitcoin holdings reflect negative mark-to-market valuations.
The market momentum proved short-lived. Ceasefire negotiations collapsed over the weekend without reaching a resolution. An April 13 announcement regarding naval blockade measures triggered a bitcoin retreat back toward $71,000.
Laser Digital’s analysts anticipate 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.
