Strategy Inc., one of the world’s largest corporate Bitcoin holders, has finally reached breakeven on its massive cryptocurrency treasury for the first time since early February.
The milestone comes after roughly 75 days underwater, with the Bitcoin spot price recovered above $76,000—placing the portfolio back at or slightly above water on a mark-to-market basis.
Formerly known as MicroStrategy, the company’s average acquisition cost for its 780,897 BTC stands at $75,577 per coin—as of the latest purchase announcement of 13 April 2026—with a total cost basis of approximately $59.02 billion.
At the time of publishing, Bitcoin was trading near $75,300—down slightly from Strategy’s breakeven price—with intraday high hitting $76,305, as per CoinMarketCap data.
Strategy last sat comfortably above breakeven in late January 2026, when Bitcoin traded well above the then-average cost of about $76,052.
A sharp correction in early February pushed BTC as low as $74,500, briefly triggering nearly $1 billion in unrealized losses and sending Strategy’s stock lower. The price remained below the rolling cost basis for most of February and March amid broader market volatility.
Throughout the dip, Strategy continued its aggressive “Bitcoin yield” strategy under Executive Chairman Michael Saylor. The firm added tens of thousands of coins, often at discounted prices in the $67,000–$71,000 range during March and early April purchases.
Most of these buys were funded through common stock offerings and perpetual preferred shares (the “STRC” program) and it helped modestly lower the weighted average cost while growing holdings from around 713,500 BTC in early February to nearly 781K today.
Bitcoin maximalism pays-off
Throughout months, Strategy’s continuous accumulation turned the average purchase cost into a moving target. The company’s lower-priced purchases in Q1 and early Q2 2026 offset some of the impact from higher-cost buys made when Bitcoin was trading above $80,000–$90,000 earlier in the cycle.
Despite reporting a $14.46 billion unrealized loss for Q1 due to accounting rules, the company highlighted strong “BTC yield” metrics, including a net gain of 17,585 BTC in the first half of April alone.
This return to breakeven has renewed optimism among Bitcoin maximalists. Saylor’s long-term vision—positioning Strategy as a “Bitcoin development company”—has weathered multiple cycles since the firm’s first purchase in August 2020.
Over more than 2,070 days of accumulation, which began in August 2020, the strategy has transformed a software business into one of the largest single holders of Bitcoin, representing roughly 3.7% of the cryptocurrency’s total supply.
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