Strategy (MSTR) Stock Climbs 3.9% After Resuming Bitcoin Acquisition Spree With $330M Investment

Key Highlights

• Between April 1 and April 5, Strategy acquired 4,871 Bitcoin at a total cost of $329.9 million, averaging $67,718 per token.
• This acquisition marks the end of a two-week hiatus that interrupted the company’s impressive 13-week consecutive buying pattern in 2026.
• Strategy’s Bitcoin portfolio has reached 766,970 tokens, with an average acquisition cost of $75,644 per coin.
• First quarter 2026 financials revealed a $14.46 billion unrealized loss on digital asset holdings, offset by a $2.42 billion deferred tax benefit.
• Following the announcement, Bitcoin traded near $69,589, posting a 3.4% gain over the previous 24-hour period.

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Strategy has resumed its aggressive Bitcoin accumulation strategy. In a Monday filing, the firm revealed it acquired 4,871 Bitcoin during the five-day period spanning April 1 through April 5, with an average purchase price of approximately $67,718 per token, totaling $329.9 million.

This transaction marks the conclusion of a brief two-week intermission that interrupted what had been an unbroken 13-week purchasing sequence — representing Strategy’s first deviation from its established weekly acquisition routine in 2026.

Executive Chairman Michael Saylor hinted at the impending purchase during the Easter holiday weekend. On April 3, he shared the message “It’s a Good Friday to buy Bitcoin.” Two days later, on April 5, Saylor posted a visual chart documenting previous acquisitions with the caption “Back to Work,” creatively substituting the letter “B” with Bitcoin’s signature symbol.

To finance this latest acquisition, Strategy leveraged multiple equity instruments. The company divested approximately 2.28 million shares of its variable rate Series A perpetual Stretch preferred stock (STRC), generating net proceeds of $227.3 million between March 30 and March 31. Subsequently, between April 1 and April 6, an additional 1.03 million Stretch preferred shares were sold, yielding $102.6 million. The firm also liquidated 593,294 class A common shares, contributing an additional $72 million to the funding pool.

Significant Unrealized Losses Accumulate

Strategy’s aggregate Bitcoin position now totals 766,970 coins, purchased at an average cost basis of $75,644 per token. This average price point sits considerably higher than Bitcoin’s current market valuation.

The corporation disclosed a substantial $14.46 billion unrealized loss on its digital asset portfolio for the first quarter of 2026. Accompanying this figure was a $2.42 billion deferred tax benefit associated with the documented loss.

Bitcoin’s value has remained substantially below its late-2025 zenith. The cryptocurrency reached peak valuations exceeding $125,000 before retreating to its current range around $69,000, pressured by broader technology sector weakness and market volatility stemming from geopolitical tensions involving Iran.

As of the time of publication, Bitcoin had appreciated 3.4% during the preceding 24-hour trading window, reaching $69,589.

Strategy’s Market Premium to Bitcoin Holdings

Strategy’s market capitalization compared to the underlying value of its Bitcoin reserves — referred to as its multiple of net asset value, or mNAV — registered at 1.09 on Monday. This metric indicates the market is currently assigning Strategy a 9% premium above the raw value of its cryptocurrency portfolio.

Should the mNAV ratio decline below 1.0, it would signal that investors are valuing the company at a discount to its Bitcoin holdings alone.

MSTR stock advanced 3.9% during premarket trading on Monday.

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