Strategy restarts BTC buying with 4,871 coins, $329.9M

Published: 2026-04-07 06:13:37 |

Strategy’s Bitcoin treasury firm resumed accumulation after a two-week pause, buying 4,871 BTC for $329.9 million (about $67,718 per BTC) in the Apr 1–5 window, per an SEC filing. The purchase was largely funded through at-the-market (ATM) sales of STRC and MSTR shares. Total Strategy BTC holdings now stand at 766,970 BTC, requiring about $58B in aggregate investment. With BTC near ~$69,200, the overall cost basis is ~$75,644, implying the treasury book is roughly 8.1% underwater, though this latest tranche is described as “in the green.” Strategy remains the biggest corporate holder, at about 3.83% of circulating BTC supply. Separately, Bitmine added 71,252 ETH over the past week, its largest weekly accumulation since Dec 2025, lifting total ETH holdings to 4,803,334 (about 3.98% of circulating supply). Bitmine said it is nearing the final stages of a “mini-crypto winter.” For traders, the renewed Strategy BTC spot bid supports sentiment, but the mark-to-market drawdown highlights ongoing volatility and potential pressure on corporate cost bases.

Bullish

Strategy restarting BTC accumulation after a brief gap signals persistent corporate spot demand. Even though the aggregated cost basis remains below the current BTC price (about an ~8% paper drawdown overall), the report that the latest tranche may be “in the green” suggests reduced near-term selling pressure from this specific buy cycle. Because Strategy is one of the largest corporate holders (about 3.83% of circulating BTC), renewed BTC treasury buying can tighten spot liquidity and support dips, which is typically constructive for BTC price action. The additional ETH treasury buy from Bitmine reinforces the broader “institutional accumulation” narrative, helping risk appetite across the crypto complex, though the market-wide uncertainty means volatility can remain high. Overall, the direction is supportive for BTC in the short to medium term, while the cost-basis drawdown acts as a ceiling on sustained upside if market prices fall further.