Strategy restarts Bitcoin accumulation, buys 4,871 BTC via STRC, targets 1M BTC by 2026
Strategy restarted Bitcoin accumulation after a one-week pause, buying 4,871 BTC for about $329.9 million at an average ~$67,718 per coin (SEC Form 8-K filed April 6). The company reported no BTC purchases for March 23–29, ending a 13-week streak.
The latest Bitcoin accumulation lifts holdings to 766,970 BTC, with a total cost of ~$58.02 billion and an average cost basis of about $75,644. With BTC trading near ~$67,300 in early April—below Strategy’s average cost—this purchase signals continued treasury support even when prices fall under cost.
Funding is tied to equity issuance (at-the-market) and expanding perpetual preferred shares, including STRC (“Stretch”), with a variable dividend rate of 11.50%. Strategy also outlined plans to raise up to $42 billion to continue accumulating. Separately, it previously disclosed a large paper loss on BTC in Q1 2026 (excluding operating costs), but executives reiterated the “Back to Work” tone and a goal of 1 million BTC by end-2026.
For traders, the immediate takeaway is a fresh corporate BTC bid, but it comes alongside leverage-linked drawdowns from preferred-share financing—so sentiment may improve, while volatility can persist.
Neutral
Strategy’s restarted Bitcoin accumulation is a clear, near-term supportive signal for BTC demand because it adds 4,871 BTC despite BTC trading below Strategy’s average cost basis. That can tighten perceived sell pressure and keep “corporate bid” narratives active.
However, the news is not purely bullish: Strategy also disclosed a large Q1 2026 paper loss tied to its BTC position, and the funding structure (perpetual preferred shares/STRC with variable dividends) introduces leverage-related drawdown risk. This can cap upside and sustain volatility even as purchases continue.
Overall, the immediate flow is supportive, but the financing and drawdown backdrop make the net effect on BTC price more balanced than one-sided.