TL;DR
- Weekly Purchase: Strategy bought 3,273 BTC for $255 million at a $77,906 average price, lifting its holdings to 818,334 BTC.
- Funding and Programs: The company used MSTR sales to fund the purchase and continues expanding its ATM and preferred stock programs under its $84 billion “42/42” plan.
- Market and Stock: Despite sector-wide valuation drops, the firm’s stock gained 10.6% last week, supported by strong accumulation activity and proposed STRC dividend changes.
Strategy added another 3,273 BTC to its treasury between April 20 and April 26, spending roughly $255 million at an average price of $77,906 per coin, according to its latest 8-K filing with the Securities and Exchange Commission. The purchase extends the firm’s steady accumulation pace and reinforces its position as the largest public holder of Bitcoin. The firm now controls 818,334 BTC, valued at about $63.7 billion, with a total acquisition cost of $61.8 billion and an average price of $75,537 per coin.
Strategy Expands Holdings and Reports Growing Paper Gains
The company’s Bitcoin position now represents 3.9% of the asset’s fixed 21 million supply, generating an estimated $1.9 billion in unrealized gains at current market levels. Strategy funded the latest purchase through at-the-market sales of its Class A common stock, MSTR, selling 1,451,601 shares for approximately $255 million. As of April 26, the firm still has $26.47 billion worth of MSTR available for issuance under its ongoing program.
ATM Programs and the Ambitious 42/42 Capital Plan
Beyond common stock issuance, Strategy continues to rely on its suite of perpetual preferred stock programs, including STRK, STRC, STRF, and STRD, which collectively support its long-term strategy for acquiring Bitcoin. These programs align with the firm’s broader “42/42” plan, which aims to raise $84 billion in combined equity and convertible note offerings by 2027. Strategy recently expanded these ATM programs, adding up to $21 billion of MSTR, $21 billion of STRC, and $2.1 billion of STRK capacity.
Saylor Signals Activity as STRC Dividend Proposal Advances
Co-founder Michael Saylor hinted at the latest purchase on Sunday, sharing an update on Strategy’s Bitcoin tracker and writing that “the beat goes on.” STRC, a variable-rate preferred stock offering monthly dividends, has become a key funding tool, though it was not used last week. Strategy has proposed shifting STRC dividends from monthly to twice monthly, arguing the change could improve liquidity, efficiency, and price stability.
Market Context and Strategy’s Stock Performance
Analysts at TD Cowen said the proposed dividend changes could benefit both common shareholders and Bitcoin treasury peer Strive. Bitcoin Treasuries data shows 196 public companies now follow similar accumulation models, though many have seen sharp valuation declines since 2025. Despite broader weakness, Strategy’s stock rose 10.6% last week, closing Friday at $171.02.
