Strategy buys 13,927 BTC for $1 billion, according to an SEC filing on Monday. The purchases happened between April 6 and 12, at an average price of $71,902 per coin after Yesterday’s hint. That’s below the company’s overall average acquisition price of $75,577 a classic dip buy.
This latest haul brings Strategy’s total Bitcoin holdings to 780,897 BTC. They acquired those for a total cost of $59.02 billion. At current prices, the company is just 19,103 BTC away from the massive 800,000 milestone. So far this year, Strategy has bought more than 107,000 BTC.
How Strategy Buys 13,927 BTC Without Touching MSTR Stock
The funding came entirely from perpetual preferred equity – specifically Stretch (STRC). Last week, Strategy sold 10 million STRC shares, generating roughly $1 billion in net proceeds. No shares of STRF, STRK, STRD, or MSTR common stock were sold during the period. That’s good news for MSTR holders, as it reduces dilution pressure.
According to STRC.live, last week marked the second-largest weekly STRC issuance on record – nearly three times the four‑week average. Strategy amended its sales rules in early March, and the floodgates opened.
Unrealized Losses? Saylor Doesn’t Care
Despite sitting on $14.46 billion in unrealized losses on its digital assets (reported for Q1 2026), Strategy keeps buying. Saylor teased the purchase on Sunday with his signature orange‑dots chart, a pattern that has preceded almost every major buy since 2020.
ETF Inflows Add Fuel
It’s not just Strategy. Spot Bitcoin ETFs saw $786 million in inflows last week, adding institutional firepower. Nomura’s Laser Digital noted that Strategy’s buying and ETF inflows were key signals supporting Bitcoin’s rally above $73,000. However, weekend talks between the US and Iran failed, triggering a naval blockade and a sharp pullback toward $71,000. Expect erratic price action until the ceasefire deadline.
My Thoughts
Saylor is playing a different game. He’s not trading – he’s accumulating a strategic reserve. The STRC funding mechanism is brilliant: preferred stock buyers get yield, Strategy gets Bitcoin, and MSTR common shareholders see less dilution. The $14.46 billion paper loss sounds scary, but it’s unrealized. If Bitcoin ever returns to $97K, that loss becomes a massive gain. The macro backdrop is messy – oil at $105, naval blockades – but Strategy’s buying provides a powerful bid. Watch the 800,000 BTC milestone. When they hit it, expect a media frenzy and possibly a new wave of FOMO.
