Strategy Buys 4,871 Bitcoin at $67,718 as Corporate Accumulation Outside Strategy Collapses 99%

Strategy Inc. (Nasdaq: MSTR), the largest publicly traded corporate holder of Bitcoin, acquired 4,871 BTC for approximately $329.9 million at an average price of $67,718 per bitcoin between April 1 and April 5, 2026, purchasing well below its overall cost basis of $75,644.

The purchase comes as corporate Bitcoin buying outside Strategy has collapsed 99% from its August 2025 peak, with Strategy now holding approximately 76% of all Bitcoin on publicly traded corporate balance sheets.

Strategy Adds 4,871 BTC Below Average Cost as Competitors Sit Out

Strategy’s latest purchase lifts its total holdings to 766,970 BTC. The firm has now spent roughly $58.02 billion to accumulate Bitcoin, with an average purchase price of $75,644 per coin. The $67,718 average purchase price for this tranche sits almost $8,000 below Strategy’s all-in average, meaning every coin added at this level improves the firm’s overall position.

Over the past 30 days, Strategy purchased roughly 45,000 BTC. Every other publicly traded treasury company combined added just 1,000 BTC in the same period. Non-Strategy corporate purchases have dropped 99% from their August 2025 peak, when the wider cohort bought 69,000 BTC in a single month. Strategy added approximately 90,000 BTC year-to-date, while all other treasury firms combined contributed a net 4,000 BTC.

Strategy’s Bitcoin Holdings Approach BlackRock’s IBIT

Strategy now holds approximately 76% of all Bitcoin on publicly traded corporate balance sheets. The gap between Strategy and BlackRock’s iShares Bitcoin Trust (IBIT) has narrowed to roughly 15,000 BTC. IBIT held approximately 782,475 BTC as of April 6, 2026, up only about 8,484 BTC year-to-date, compared to Strategy’s 90,000 BTC surge.

Strategy’s market-cap-to-net-asset-value ratio sits around 0.85, meaning its equity trades below the value of its Bitcoin holdings. That dynamic raises questions about continued share issuance diluting existing shareholders. Co-founder and executive chairman Michael Saylor is leaning more heavily on Stretch preferred shares to fund purchases, after introducing an 11.5% annual yield preferred stock in 2025.

Strive Follows Strategy’s Playbook with 113 BTC Purchase

Strive Inc. (Nasdaq: ASST), the Bitcoin treasury firm founded by Vivek Ramaswamy, separately announced the purchase of 113 BTC for $7.75 million at an average cost of roughly $68,577 per coin. That brings Strive’s total holdings to 13,741 BTC as of April 2. Strive also bought below its historical average and continues to add while most corporate buyers have paused.

In March, Strive purchased $50 million of Strategy’s STRC preferred stock, an investment that ties its returns partly to Strategy’s own Bitcoin accumulation strategy. Strive accumulated most of its Bitcoin through private placement proceeds and its acquisition of Semler Scientific, which contributed 5,048 BTC.

Strategy Posts $14.5 Billion Unrealized Loss in First Quarter

Bitcoin tumbled more than 20% in the first quarter of 2026, the largest first-quarter drop since 2018. Strategy held more than $50 billion of cryptocurrency at quarter-end and registered an approximately $14.5 billion unrealized loss, driven by accounting standards adopted last year that require changes in the fair value of Bitcoin holdings to flow through earnings.

The company also reported a $2.42 billion deferred tax benefit in the quarter. Strategy has a cash reserve of approximately $2.25 billion, enough to cover interest and distributions on its preferred shares for more than two years. Last month, the firm announced plans to sell $21 billion in Class A common stock and $21 billion in perpetual preferred shares through open-market offerings.

Saylor Signals Further Purchases with ‘Orange Dot’ Post

On April 5, 2026, Michael Saylor posted “Back to Work” on X alongside a chart summarizing Strategy’s Bitcoin reserve trajectory, reviving his widely followed “orange dot” pattern after skipping the prior week. The return of the orange dot format has historically aligned with purchase disclosures, driving expectations of another acquisition announcement. The post followed a Form 8-K filed with the SEC disclosing no Bitcoin purchases for the week ending March 29, making the April 1-5 purchase the first accumulation after a brief pause.

FAQ

How much Bitcoin did Strategy buy in its latest purchase?

Strategy acquired 4,871 BTC for approximately $329.9 million at an average price of $67,718 per bitcoin between April 1 and April 5, 2026. The purchase price was nearly $8,000 below the firm’s all-in average cost of $75,644.

How does Strategy’s accumulation compare to other corporate Bitcoin buyers?

Strategy now holds approximately 76% of all Bitcoin on publicly traded corporate balance sheets. Over the past 30 days, Strategy purchased about 45,000 BTC while every other publicly traded treasury company combined added just 1,000 BTC, representing a 99% decline from the August 2025 peak of corporate buying.

What is Strategy’s financial position after the first quarter of 2026?

Strategy posted an approximately $14.5 billion unrealized loss in the first quarter as Bitcoin fell more than 20%. The company holds about $2.25 billion in cash reserves, enough to cover interest and distributions for more than two years. It has announced plans to raise $42 billion through common stock and perpetual preferred share offerings.