Key Highlights
- Strategy acquired 4,871 Bitcoin between April 1 and April 5 for $329.9 million, averaging $67,718 per token.
- This acquisition marks the end of a two-week hiatus that interrupted the company’s 13-week consecutive purchasing pattern in 2026.
- The firm’s total Bitcoin position now stands at 766,970 coins, with an average acquisition cost of $75,644 per unit.
- Strategy disclosed a $14.46 billion unrealized loss on its digital asset holdings for the first quarter of 2026, accompanied by a $2.42 billion deferred tax benefit.
- Bitcoin’s price hovered around $69,589, reflecting a 3.4% increase in the day following the announcement.
Strategy has resumed its Bitcoin accumulation strategy. In a Monday disclosure, the company revealed it acquired 4,871 Bitcoin during the five-day period spanning April 1 through April 5, with an average purchase price of approximately $67,718 per coin, totaling $329.9 million.
This transaction marks the conclusion of a two-week interruption in Strategy’s buying activity, which had previously broken the company’s impressive 13-week consecutive purchasing run — representing the first deviation from its regular weekly acquisition schedule in 2026.
Chairman Michael Saylor hinted at the upcoming purchase during the Easter weekend. On April 3, he posted a message stating “It’s a Good Friday to buy Bitcoin.” Two days later, on April 5, he shared a graphic displaying historical purchase data with the caption “Back to Work,” featuring the Bitcoin symbol in place of the letter “B.”
The company financed this latest acquisition through equity sales. Strategy sold approximately 2.28 million shares of its variable rate Series A perpetual Stretch preferred stock (STRC), generating net proceeds of $227.3 million between March 30 and March 31. Subsequently, between April 1 and April 6, the firm sold an additional 1.03 million Stretch preferred shares for $102.6 million. The company also divested 593,294 shares of class A common stock, raising $72 million.
Growing Paper Losses
Strategy’s aggregate Bitcoin position has reached 766,970 coins, purchased at an average cost basis of $75,644 per token. This average purchase price sits considerably higher than Bitcoin’s current market value.
The firm disclosed a substantial $14.46 billion unrealized loss on its digital asset portfolio for the first quarter of 2026. Alongside this loss, Strategy recorded a $2.42 billion deferred tax benefit associated with the depreciation.
Bitcoin has been trading significantly below its late-2025 peak levels. The cryptocurrency reached heights above $125,000 before declining to approximately the $69,000 range, pressured by broader technology sector selloffs and market volatility stemming from the conflict in Iran.
As of the reporting time, Bitcoin had climbed 3.4% during the previous 24-hour period to reach $69,589.
MSTR’s Valuation Compared to Bitcoin Holdings
Strategy’s market capitalization relative 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 drop below 1.0, it would signal that the market values the company at less than the direct value of its Bitcoin position.
MSTR stock advanced 3.9% during premarket trading on Monday.
