Bitcoin profit returns for MicroStrategy’s Strategy after buying spree

MicroStrategy’s treasury firm, Strategy, says its Bitcoin holdings are back in profit after overtaking BlackRock’s iShares Bitcoin Trust (IBIT) and completing a new purchase. Key figures: Strategy now holds 815,061 BTC after buying 34,164 BTC for about $2.54B on April 20. Its full-reserve average acquisition cost is about $75,527 per Bitcoin. Bitcoin has recently moved back above that level, pushing Strategy back above breakeven after a loss period that started in early February. Performance metrics: Strategy reported a 6.2% Bitcoin yield for the first three weeks of April 2026, which it equated to 47,079 BTC (about $3.6B at the cited market values). It also posted a 9.5% year-to-date Bitcoin yield for 2026. Relative to BlackRock: Strategy’s 815,061 BTC versus BlackRock’s IBIT at 806,178 BTC puts Strategy ahead on total BTC held. The article notes Strategy’s share of total Bitcoin supply has surpassed 4%. Implication for traders: the buffer between Strategy’s realized cost basis and the current Bitcoin price is described as narrow. CryptoQuant estimates Strategy’s unrealized profit at roughly $242M, meaning modest price moves could quickly swing sentiment again if Bitcoin falls back below its average cost basis. Bottom line: Strategy’s Bitcoin profit headline is currently bullish for Treasury-led narratives, but the margin of safety remains tight—so traders may watch Bitcoin closely for confirmation or a quick reversal.