Strategy (MSTR) Stock Declines Despite $1 Billion Bitcoin Purchase Pushing Holdings Near 800K BTC

Key Highlights

• Strategy acquired 13,927 BTC for approximately $1 billion during April 6-12, paying an average of $71,902 per bitcoin.
• The acquisition was entirely financed through the sale of 10 million STRC (Stretch) preferred stock shares.
• Combined bitcoin holdings now total 780,897 BTC, purchased for $59.02 billion at an average price of $75,577 per coin.
• The company reported $14.46 billion in unrealized losses on digital asset holdings for Q1 2026.
• MSTR shares declined over 2.5% during pre-market hours Monday after the filing disclosure.

Strategy continued its aggressive bitcoin accumulation strategy with another billion-dollar purchase last week, though shareholders responded by pushing the stock lower. Here’s the breakdown.

According to an 8-K filing submitted to the SEC Monday, the transaction occurred between April 6 and April 12. The company acquired 13,927 BTC, paying an average of $71,902 per bitcoin. This addition pushes Strategy’s cumulative holdings to 780,897 BTC — leaving the firm fewer than 20,000 coins short of the 800,000 threshold.

Strategy Inc, MSTR

Strategy’s aggregate investment in bitcoin now stands at $59.02 billion, with an average acquisition cost of $75,577 per coin. Given that bitcoin is currently trading near $71,000, the company’s position shows an unrealized loss of several thousand dollars per coin based on average cost basis.

The funding for this latest acquisition came exclusively from STRC sales — the company’s perpetual preferred stock instrument marketed as “Stretch.” No shares of MSTR, STRK, STRD, or STRF were issued during this timeframe.

STRC Issuance Reaches Second-Highest Weekly Volume

Data from STRC.live reveals that last week’s STRC issuance volume ranked as the second-largest weekly total recorded — approximately three times higher than the four-week rolling average. Strategy modified its STRC distribution framework in early March, a change that has driven substantially higher issuance volumes in recent weeks.

The $1 billion generated through STRC sales was deployed entirely into the bitcoin acquisition, with net proceeds essentially matching the purchase amount.

Strategy has maintained an exceptionally aggressive accumulation pace throughout 2026. The company has added more than 107,000 BTC year-to-date, representing one of the most concentrated buying periods since the firm began its bitcoin treasury strategy.

The timing of last week’s purchase coincided with significant cryptocurrency market movements. Digital asset markets experienced a rally early in the week following news of a US-Iran ceasefire agreement, with bitcoin reclaiming the $70,000 level and briefly surpassing $73,000. Nomura’s Laser Digital identified Strategy’s buying activity as a contributing factor to the upward momentum, along with $786 million in net inflows to spot bitcoin ETFs.

First Quarter Unrealized Losses Total $14.46 Billion

Strategy disclosed $14.46 billion in unrealized losses on its digital asset portfolio for the first quarter of 2026. With an average purchase price of $75,577 per bitcoin exceeding current market valuations, the company’s holdings reflect a paper loss at present price levels.

The market rally proved short-lived. Ceasefire negotiations stalled over the weekend without reaching a resolution. An April 13 announcement regarding a naval blockade triggered a bitcoin pullback toward $71,000.

Laser Digital analysts anticipate continued price volatility leading up to the ceasefire deadline.

MSTR shares traded down more than 2.5% in Monday’s pre-market session following the SEC filing.

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