Strategy buys 4,871 BTC for $330M via STRC, extending Q2 streak
Strategy extends its BTC accumulation streak with a $329.9M purchase of 4,871 BTC. The acquisition price averaged $67,718, below the recent market range (briefly above $71,000).
Key figure: Strategy now holds 766,970 BTC, valued around $58.02B at an average cost of ~$75,644 per BTC (as of 4/5/2026).
Funding mechanism: For this buy, Strategy raised $227.3M through STRC preferred share issuance. STRC shares have traded around $99–$101 since February, giving Strategy additional liquidity without exhausting treasury supply. Strategy also sold about $72M of MSTR common stock, which was around $119.73.
STRC structure and near-term catalyst: STRC’s issuance/credit needs depend on BTC price levels. The article notes Strategy will retain an 11.5% interest in the coming month, with the next STRC ex-dividend date on April 15—potentially supporting further STRC-driven buying demand.
Context and second player: Metaplanet also restarted its credit-backed BTC strategy in 2026, adding 5,000 BTC in Q1 and aiming for 100,000 BTC by year-end.
Market takeaway: While BTC is in a tight range and below Strategy’s average cost, continued balance-sheet purchases supported by STRC (and related credit inflows) may help underpin spot demand during the current bear-to-range regime.
Bullish
This is likely bullish because the headline is sustained spot-demand created by a balance-sheet “buy the dip” program, even while BTC trades in a tight range. Strategy’s $329.9M weekly-style purchase funded via STRC preferred shares helps keep effective buying pressure consistent, and the next STRC ex-dividend date (April 15) adds timing risk/reward for follow-on flows. Historically, when major corporate treasuries keep accumulating through credit/liquidity tools during consolidation phases, spot dips often face stronger support and rallies tend to have better follow-through than when the market lacks incremental buyers.
Short term, the fact that Strategy is buying below its average price can dampen upside urgency, but it still signals willingness to absorb supply during range trade. Over the longer run, the repeatable STRC/MSTR/Miraplanet credit playbook supports the narrative that institutional corporate demand may persist through a broader bear-to-recovery cycle—provided BTC can maintain levels that keep funding mechanics active. That said, any adverse BTC move below key thresholds could reduce funding efficiency, so the bullish bias is conditional rather than unlimited.