Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 3,459 BTC for approximately $258.8 million at an average price of $82,618 per bitcoin between April 7 and April 13, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Strategy now holds a total of 531,644 BTC — worth over $45 billion — bought at an average price of $67,556 per bitcoin for a total cost of around $35.9 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. That's the equivalent of more than 2.5% of bitcoin's total 21 million supply.
The latest acquisitions were made using proceeds from the sale of its class A common stock, MSTR. Last week, Strategy sold 959,712 MSTR shares for approximately $285.7 million. As of April 14, $2.08 billion worth of MSTR shares remain available for issuance and sale under that program, the firm said. Strategy sold no STRK shares last week, with $20.97 billion worth of STRK shares remaining available for issuance and sale under that program.
Strategy's STRK and STRF perpetual preferred stocks are in addition to the firm's initial "21/21 plan," which targets a total capital raise of $42 billion in equity offerings and fixed-income securities for bitcoin acquisitions.
Saylor again hinted at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy's bitcoin purchase tracker on Sunday, stating, "No tariffs on orange dots."
Strategy portfolio tracker. Image: Saylortracker.com.
Strategy previously acquired an additional 22,048 BTC for approximately $1.9 billion in cash at an average price of $86,969 per bitcoin between March 24 and March 30 — taking its total holdings to 528,185 BTC.
The company then paused its bitcoin buying spree during the first week of April and reported unrealized losses on its holdings worth $5.91 billion in Q1 after spending about $7.66 billion to acquire 80,715 BTC during the quarter at an average price of around $94,922.
Q1 saw bitcoin's worst quarterly performance since 2018 — dropping nearly 12% — according to The Block's bitcoin price page.
Despite the drawdown, Strategy's $79.9 billion market cap still trades at a significant premium to its bitcoin net asset value, with some investors continuing to air reservations about the firm's premium to NAV valuation and its increasingly numerous bitcoin acquisition programs.
However, analysts at research and brokerage firm Bernstein argue that with debt under 13% and no payments due until 2028, the firm's leverage remains manageable, recently predicting that Strategy’s bitcoin holdings could double to over 1 million BTC by the end of 2033.
Strategy's class A common stock, MSTR, closed up 10.2% on Friday at $299.98 amid another tumultuous Trump tariff-fueled week for global markets that ultimately saw the stock gain 15.3%. MSTR is currently up 3.3% in pre-market trading on Monday, per TradingView.
Following a substantial gain of more than 568% for MSTR in 2024, the stock has had a more challenging 2025, though last week's gains have brought it back to around break-even year-to-date, according to The Block's Strategy price page.
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