Chiara Bianchi
Strategy — formerly known as MicroStrategy — has significantly boosted its Bitcoin portfolio once again. Between April 21 and April 27, the company acquired an additional 15,355 BTC for roughly $1.42 billion, paying an average of $92,737 per Bitcoin, according to an SEC 8-K filing released Monday.
Following this acquisition, Strategy now holds 553,555 BTC, valued at over $52 billion. The company’s total Bitcoin investment stands at approximately $37.9 billion, inclusive of fees and related expenses, with an average purchase price of $68,459 per BTC, as shared by co-founder and executive chairman Michael Saylor. This massive reserve represents more than 2.6% of Bitcoin’s fixed 21 million coin supply, resulting in an impressive $14 billion in unrealized gains.
Strategy’s Funding Moves: Stock Sales Fuel Bitcoin Purchases
The latest Bitcoin accumulation was financed through proceeds from sales of Strategy’s class A common stock (MSTR) and perpetual preferred stock (STRK). Last week alone, 4,020,000 shares of MSTR were sold, raising approximately $1.4 billion. As of April 27, only $128.7 million worth of MSTR shares remain available under the current sale program.
Additionally, the company issued 435,069 shares of STRK, securing about $37.5 million, leaving $20.92 billion worth of STRK shares still available for future sales.
These fundraising activities align with Strategy’s ambitious “21/21 plan,” targeting $42 billion in equity and fixed-income financing specifically earmarked for Bitcoin acquisitions.
Michael Saylor Teases More Bitcoin Buys
Over the weekend, Saylor hinted at potential further Bitcoin purchases by updating Strategy’s Bitcoin portfolio tracker. Sharing a message reading “Stay humble. Stack sats,” he fueled speculation of additional filings on the horizon.
Just a week earlier, Strategy had disclosed buying 6,556 BTC for about $555 million, at an average price of $84,785 per Bitcoin, bringing its holdings at that time to 538,200 BTC.
Corporate Bitcoin Accumulation Race Heats Up
The competition among corporations to stockpile Bitcoin is intensifying. Cantor Fitzgerald, SoftBank, Bitfinex, and Tether recently announced a $3.6 billion Bitcoin venture, joining the ranks of Semler Scientific, KULR, and Metaplanet — all adopting Bitcoin-focused treasury models originally popularized by Strategy and Saylor.
Newcomer Twenty One Capital, led by Strike CEO Jack Mallers, plans to launch with over 42,000 BTC and is positioning itself as a “Bitcoin-native” public company offering a leaner and more capital-efficient structure compared to Strategy.
Twenty One Capital: A New Challenger to Strategy
Analysts from K33 Research highlighted that Twenty One Capital emphasizes a clean, simplified structure compared to Strategy’s expanding base. Notably, Twenty One offers unique metrics like Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR), designed to transparently track Bitcoin value growth per share.
By starting with a clean cap table and focusing exclusively on Bitcoin, Twenty One aims to attract investors seeking pure Bitcoin exposure without the dilution effects seen as Strategy’s treasury grows.
Their future roadmap includes developing Bitcoin-native financial products, launching a Bitcoin lending platform, and offering education and advisory services for institutions and retail investors alike.
Strategy’s Stock Performance Reflects Bitcoin Momentum
Strategy’s class A common stock (MSTR) closed up 5.2% on Friday, ending at $368.71, amid broader market rebounds where Bitcoin surged over 8% during the week. According to TradingView, MSTR shares climbed another 0.7% in pre-market trading Monday and are currently up 22.9% year-to-date, giving Strategy a market capitalization of approximately $98.1 billion.
