Sitting on paper losses exceeding $14 billion, Michael Saylor’s Strategy didn’t slow down last week. The company spent roughly $1 billion buying more Bitcoin — its latest move in a relentless accumulation run that has now brought its total stash to 780,897 BTC.
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A Purchase Funded By Preferred Shares
That $1 billion didn’t come from operating cash. Strategy raised the money by selling 10 million shares of STRC, its perpetual preferred equity. Data shows the sale generated about $1 billion in net proceeds — and it was no small transaction.
According to reports, STRC recorded its second-largest weekly issuance on record, coming in at nearly three times the four-week average. The surge followed a rule change Strategy made in early March that loosened restrictions on STRC share sales.
No shares of MSTR, STRK, STRF, or STRD were sold during the same period.
The 13,927 Bitcoin acquired between April 6 and 12 were purchased at an average price of $71,902 per coin. That figure sits below the company’s overall average buy price of $75,577 — meaning last week’s batch technically brought the cost basis down, not up.
A Milestone Within Reach
Strategy now needs just 19,103 more Bitcoin to cross the 800,000 BTC mark. Reports indicate the company has already bought more than 107,000 BTC in 2026 alone. All told, its holdings were acquired for a combined $59 billion — a figure that underscores just how deep the company is committed to this position.
The purchase came during a volatile stretch for Bitcoin prices. The market briefly climbed past $73,000 early last week after news broke of a US-Iran ceasefire. That rally didn’t hold.
Weekend negotiations fell apart, and an announcement of a naval blockade on April 13 pulled Bitcoin back toward $71,000. Strategy’s buying was among the signals backing the earlier rally, Nomura’s Laser Digital said, on top of solid inflows into spot Bitcoin exchange-traded funds, which took in $786 million over the same period.
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Big Losses, Bigger Bets
The backdrop to all of this is a balance sheet carrying $14.6 billion in unrealized losses on digital assets — a figure Strategy disclosed for the first quarter of 2026. That number reflects how far Bitcoin’s price has fallen from the highs at which much of the company’s holdings were acquired.
Still, the buying continues. SEC filings confirm the latest purchase was formally disclosed Monday in an 8-K report. There is no indication from the company of any plan to pause or reverse course.
With fewer than 20,000 BTC separating Strategy from the 800,000 milestone, the next purchase announcement may not be far off.
Featured image from Vecteezy, chart from TradingView
