Strategy Inc., the business intelligence firm turned Bitcoin powerhouse formerly known as MicroStrategy, disclosed another substantial addition to its corporate Bitcoin holdings, extending a streak that has made it the undisputed largest corporate holder of the cryptocurrency.
In a latest 8–k filing with the U.S. Securities and Exchange Commission (SEC), the company confirmed it acquired 3,273 Bitcoin for approximately $255 million at an average price of ~$77,906 per coin during the week ended 24 April.
The purchases were funded entirely through the sale of common shares via its at-the-market (ATM) equity offering program for MSTR stock. This marks a departure from recent purchases, which were primarily financed using proceeds from its variable-rate preferred stock (STRC).
This latest addition brings the company’s total Bitcoin holdings to 818,334 BTC, acquired for a cumulative ~$61.81 billion at an average cost basis of ~$75,537 per Bitcoin.
The company’s disciplined weekly cadence—now surpassing 100 separate purchase events since it first dipped into Bitcoin in 2020—continues even as broader market volatility persists.
MSTR and STRC: Dual Tracks Powering Strategy’s Bitcoin Engine
Strategy’s Nasdaq-listed common shares (MSTR) continue to serve as a high-beta proxy for Bitcoin exposure, often magnifying the cryptocurrency’s price swings. As of late April 2026, MSTR traded around $171, posting a year-to-date gain of roughly 12-13% in choppy markets.
The stock has generated outsized long-term returns—up more than 50% in the past year and nearly 500% over three years—fueled by investor appetite for leveraged Bitcoin exposure through the company’s aggressive treasury strategy.
Complementing the common equity is Strategy’s variable-rate convertible preferred stock Stretch (STRC), which has emerged as the primary funding vehicle for the majority of its Bitcoin purchases in recent months. STRC allows the company to raise fresh capital with flexible terms that appeal to income-focused investors while minimizing immediate dilution to common shareholders.
Notably, the latest purchase of $255 million was funded solely through sales of 1,451,601 shares of MSTR common stock, diverging from the company’s more typical recent approach of relying heavily on STRC issuances.
This shift highlights the flexibility in Strategy’s capital-raising toolkit, allowing it to tap common equity when market conditions for MSTR are favorable.
The preferred shares have nonetheless seen strong demand overall, providing a steady stream of capital that supports the weekly Bitcoin buys without relying heavily on debt. This dual-capital structure—MSTR for growth-oriented investors and STRC for yield-seeking ones—has enabled Strategy to scale its Bitcoin holdings rapidly while maintaining financial flexibility.
Both securities trade at notable premiums to the net asset value of the underlying Bitcoin treasury. MSTR in particular has carried a persistent premium in the $15-16 billion range at times, reflecting confidence in Saylor’s vision, the company’s capital-raising ingenuity, and its reported “Bitcoin yield” metric that measures growth in coins per share.
STRC holders benefit from attractive dividend rates tied to the preferred structure, creating a balanced appeal across the capital stack.
Usually, purchase announcements like this drive a huge spike in trading volumes for both tickers, but MSTR tends to show greater volatility while STRC typically trades within nearby $100 due to its financial mechanics.
Read: STRC — The $100 “Stable Stock” Fueling Strategy’s BTC Treasury
As Bitcoin reserve metrics become central to Strategy’s reporting, investors scrutinize not only total holdings but also per-share ownership, funding efficiency via STRC (and occasional MSTR-only raises), and the sustainability of the premium valuations.
The latest filing underscores Strategy’s unwavering commitment at a time when many corporations remain on the sidelines.
As regulatory clarity around digital assets evolves and macroeconomic pressures mount, Saylor’s approach—buy Bitcoin, hold indefinitely, and fund creatively—continues to test the boundaries of corporate treasury management.
Also read: Capital B Expands Bitcoin Holdings to 2,943 BTC After €0.4M Purchase
