Strategy (MSTR) Stock Nears 800,000 BTC as Weekly Bitcoin Purchase Hits $1B

TLDR

• Strategy bought 13,927 bitcoin for ~$1 billion between April 6–12, at an average of $71,902 per coin.
• The purchase was fully funded by selling 10 million shares of its preferred stock, STRC (Stretch).
• Total holdings now sit at 780,897 BTC, acquired for $59.02 billion at an average cost of $75,577.
• Strategy is carrying $14.46 billion in unrealized losses on its digital assets for Q1 2026.
• MSTR stock fell more than 2.5% in pre-market trading following the Monday filing.

Strategy bought another billion dollars worth of bitcoin last week, but the stock slipped anyway. Here’s what happened.

The purchase, disclosed in an 8-K filing with the SEC on Monday, covers the period April 6 to 12. Strategy picked up 13,927 BTC at an average price of $71,902 per coin. That brings total holdings to 780,897 BTC — just under 20,000 coins away from the 800,000 mark.

Strategy Inc, MSTR

The company has now spent $59.02 billion on bitcoin across all purchases, at an average cost of $75,577 per coin. With bitcoin currently trading just below $71,000, that puts the average buy price underwater by a few thousand dollars per coin.

This latest buy was funded entirely through the sale of 10 million shares of STRC — Strategy’s perpetual preferred stock, branded as “Stretch.” No MSTR, STRK, STRD, or STRF stock was sold during the period.

STRC Posts Second-Largest Weekly Issuance on Record

According to STRC.live, last week’s STRC issuance was the second-largest on record — nearly three times the four-week average. Strategy amended its STRC sales rules in early March, which has contributed to a sharp rise in recent issuance activity.

The $1 billion raised through STRC translated directly into the bitcoin purchase, with net proceeds roughly matching the notional value of the sale.

Strategy has been buying heavily this year. The company has added more than 107,000 BTC in 2026 alone, making this one of the most aggressive accumulation periods in the company’s history.

The timing of last week’s buy was notable in the context of broader market moves. Crypto markets rallied early in the week following a US-Iran ceasefire announcement, with bitcoin reclaiming $70,000 and briefly pushing past $73,000. Nomura’s Laser Digital pointed to Strategy’s purchases as one of several factors supporting that move, alongside $786 million in inflows into spot bitcoin ETFs.

Q1 Unrealized Losses Hit $14.46 Billion

Strategy reported $14.46 billion in unrealized losses on its digital assets for Q1 2026. The company’s average acquisition cost of $75,577 per coin sits above the current market price, meaning the portfolio is technically in the red on paper.

The rally didn’t last. Weekend ceasefire talks broke down, with no agreement reached. A naval blockade announcement on April 13 sent bitcoin pulling back toward $71,000.

Laser Digital noted the company expects volatile price action to continue up to the ceasefire deadline.

MSTR stock was down more than 2.5% in pre-market trading on Monday following the filing.

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