Strategy Bitcoin buy signals: 4,871 BTC added, 766,970 held, ~2% return funds dividends

Michael Saylor’s Strategy (MSTR) continued its Bitcoin buy narrative after posting a “think bigger” update alongside its BTC acquisition tracker. On April 6, it purchased 4,871 BTC for about $329.8M, bringing total holdings to 766,970 BTC at a blended cost basis of $75,644. Despite the scale of accumulation, the accounting picture remains weak: Strategy estimates roughly $14.5B in unrealized losses on its BTC holdings (partly offset by deferred tax benefits). For traders, the key takeaway is that Strategy’s Bitcoin buy pace stays aggressive versus new supply: in March it bought 46,233 BTC, far above miners’ estimated ~16,200 BTC output. Funding is a crucial variable. The buys are primarily financed via STRC preferred equity, with the product’s breakeven annual BTC return around 2.05% to cover preferred dividends. That threshold is low versus typical BTC volatility, so if BTC stagnates or falls for longer, the funding/distribution model could face pressure. With BTC trading around $71,800 and holding above $70,000, continued ~40,000+ BTC/month pace could push Strategy’s holdings beyond 800,000 soon—tightening perceived spot demand and potentially supporting sentiment in the near term.