TL;DR
- Fresh BTC Purchase: Strategy bought 4,871 BTC for about $329.9 million, lifting its holdings to 766,970 BTC while remaining roughly 8% underwater.
- Funding Engine: Strategy relied heavily on STRC preferred share issuance, raising $227 million alongside $72 million from common stock to fund its latest acquisition.
- Market Position: Strategy resumed buying after a brief pause, maintaining its status as the largest corporate Bitcoin holder and reporting a $14.46 billion quarterly decline in the value of its treasury.
Strategy added 4,871 BTC to its treasury last week, spending about $329.9 million at an average price near $67,718 per coin, according to a Monday filing. The purchase lifted total holdings to 766,970 BTC acquired for $58.02 billion at an all‑in average cost basis of $75,644. With Bitcoin trading around $69,400, the position remains underwater by roughly 8%, reflecting close to $5 billion in unrealized losses. The latest move reinforces Strategy’s ongoing accumulation pattern, even as its balance sheet absorbs significant volatility tied to the digital asset’s price swings.
Funding Structure and Preferred Share Activity
Most of last week’s acquisition was financed through $227.3 million in sales of Strategy’s STRC preferred stock, with an additional $72 million raised through common stock issuance. The company also disclosed that proceeds from its variable‑rate preferred share have become a central engine for its Bitcoin strategy. Strategy issued $227 million worth of STRC last week alone, continuing a trend that has helped fuel its aggressive accumulation pace. When STRC trades above its $100 par value, Strategy has indicated it will issue more shares to maintain price alignment.
Accumulation Trends and Market Position
A recent CryptoQuant report highlighted Strategy’s 30‑day accumulation of roughly 44,000 BTC through late March, placing it among the only major institutional buyers absorbing supply at scale. Spot ETFs purchased around 50,000 BTC over the same period, underscoring Strategy’s role as a dominant corporate participant. At 766,970 BTC, Strategy controls about 3.8% of bitcoin’s circulating supply of 20.01 million coins, maintaining its position as the largest corporate holder of the asset.
Break in Streak and Return to Buying
The company did not report a purchase the previous week, ending a 13‑week streak in which it accumulated 90,831 BTC. In a Sunday tweet, co‑founder Michael Saylor signaled a return to activity, writing “Back to Work.” Strategy raised more than $1.5 billion through STRC last month, providing ample liquidity for continued accumulation. In its latest financial update, Strategy reported that the value of its Bitcoin holdings fell by $14.46 billion in the first quarter. Although operating costs were not included, the decline exceeded the $12.4 billion loss recorded in the prior quarter, reflecting the scale of its exposure.
