Lucía Peña
Michael Saylor’s Strategy continues its aggressive Bitcoin accumulation strategy, adding 6,556 BTC to its balance sheet between April 14 and April 20, according to a fresh SEC filing. The total investment amounted to $555.8 million, with an average purchase price of $84,785 per BTC.
To finance the latest acquisition, Strategy tapped into its ongoing stock sale programs, raising funds by issuing:
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1.76 million shares of common stock (MSTR)
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91,000+ shares of preferred stock (STRK)
These offerings generated a combined $555.5 million, nearly matching the cost of the bitcoin purchase.
Launched in October 2024 and March 2025, the two stock issuance programs have a total potential of $42 billion. As of April 20, Strategy still has $1.53 billion in MSTR and $20.96 billion in STRK available for future offerings.
Strategy’s Bitcoin Stack Tops $46.8 Billion in Value
Following this latest purchase, Strategy’s total bitcoin holdings now stand at 538,200 BTC, acquired at an average cost of $67,766 per coin. The cumulative investment equals $36.47 billion.
With Bitcoin trading around $87,000, Strategy’s BTC stash is now worth approximately $46.8 billion, reflecting an unrealized gain of roughly $10 billion.
From Unrealized Losses to Billions in Gains
Earlier in Q1 2025, Strategy reported unrealized losses of $5.91 billion due to Bitcoin’s price dip. But thanks to the market rebound, those red numbers have turned green — highlighting the volatile but rewarding nature of long-term crypto investing.
Accounting regulations require firms to log unrealized losses when asset prices drop below purchase cost, regardless of whether the asset is sold or held. This often leads to massive swings in reported earnings for bitcoin-heavy companies like Strategy.
MSTR Shares React Positively
As of the latest trading data, Strategy’s common stock (MSTR) is up 2.2%, now hovering around $324, signaling investor confidence following the company’s latest BTC move.
