Strategy (MSTR) Stock Jumps as Bitcoin Buying Streak Resumes With $330M Buy

TLDR

• Strategy bought 4,871 Bitcoin for $329.9M between April 1–5, at an average price of $67,718 per coin.
• The purchase ended a two-week pause that broke a 13-week consecutive buying streak in 2026.
• Strategy now holds 766,970 Bitcoin, bought at an average price of $75,644 each.
• The company reported a $14.46B unrealized loss on digital assets for Q1 2026, with a $2.42B deferred tax benefit.
• Bitcoin was trading around $69,589, up 3.4% in the 24 hours following the announcement.

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Strategy is back on the Bitcoin trail. The company disclosed Monday that it purchased 4,871 Bitcoin between April 1 and April 5, paying roughly $67,718 per coin for a total of $329.9 million.

The buy ended a two-week pause that had snapped a 13-week buying streak — Strategy’s first break from its weekly purchase pattern in 2026.

Chairman Michael Saylor telegraphed the move over the Easter weekend. On April 3, he posted “It’s a Good Friday to buy Bitcoin.” On April 5, he followed up with a chart of past purchases captioned “Back to Work,” with the “B” replaced by the Bitcoin symbol.

Strategy funded the purchase by selling preferred stock and some class A common stock. It sold around 2.28 million shares of its variable rate Series A perpetual Stretch preferred stock (STRC) for net proceeds of $227.3 million between March 30–31. It then sold a further 1.03 million Stretch preferred for $102.6 million between April 1–6. An additional 593,294 class A common shares brought in $72 million.

A Mounting Unrealized Loss

Strategy’s total Bitcoin holdings now stand at 766,970 coins, acquired at an average price of $75,644 each. That average is notably above where Bitcoin is currently trading.

The company reported a $14.46 billion unrealized loss on digital assets for Q1 2026. It recorded a $2.42 billion deferred tax benefit linked to that loss.

Bitcoin has been trading well below its late-2025 peaks. The token was above $125,000 at its high point. It has since dropped to around the $69,000 range, weighed down by a wider tech selloff and market uncertainty tied to the war in Iran.

At the time of reporting, Bitcoin was up 3.4% over the prior 24 hours to $69,589.

Where MSTR Trades Relative to Its Bitcoin Stack

Strategy’s market value relative to its Bitcoin holdings — known as its multiple of net asset value, or mNAV — stood at 1.09 on Monday. That means the market is currently pricing Strategy at a 9% premium to the value of its crypto reserves.

If mNAV falls below 1.0, it would mean the market values the company at less than its Bitcoin holdings outright.

MSTR stock was up 3.9% in premarket trading Monday.

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