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Michael Saylor-led Strategy has resumed its Bitcoin buying after adding 4,871 BTC for about $329.9 million. The purchase was disclosed on April 6 and covered transactions made between April 1 and April 5. The company paid an average of $67,718 per Bitcoin, according to its filing.

The latest purchase lifted Strategy’s total Bitcoin holdings to 766,970 BTC. The company said it acquired that position for about $58.02 billion in total, with its average cost basis now standing at $75,644 per coin.

The update also drew attention to MSTR stock, which rose in premarket trading after the disclosure. TradingView data cited in reports showed the stock moving from about $120 to $125 before the open. That placed the stock up more than 4% on the day, although it remained down more than 22% for the year.

Strategy Restarts Bitcoin Buying After a Quiet Week

The new purchase followed a week in which Strategy reported no Bitcoin buying. That pause ended with a fresh round of accumulation that kept the company’s treasury policy unchanged. Strategy continues to treat Bitcoin as its main reserve asset and has maintained that approach through recent price swings.

At recent Bitcoin prices near $69,500, the company remains below its aggregate cost basis. That means the market value of its holdings still trails the average price paid across the full position. Even so, the company continued buying and expanded its holdings further.

Strategy’s Bitcoin balance now accounts for a large share of the total supply in circulation. Bernstein analysts said last week that the company holds about 3.6% of total Bitcoin supply. They also repeated a $150,000 year-end Bitcoin price target and pointed to ETF inflows and corporate demand.

Capital Raising Continues to Fund the Bitcoin Strategy

Strategy funded the latest purchase through its at-the-market equity programs. The company raised about $227.3 million through sales of its variable-rate Series A perpetual Stretch preferred stock, known as STRC, in late March. It added another $102.6 million in early April and also raised $72 million from Class A common stock sales during the same period.

STRC is designed to trade near a $100 par value and pays an adjustable monthly dividend. The structure gives Strategy another way to raise capital from income-focused investors while continuing to build its Bitcoin position. The company has increasingly relied on that model as part of its broader financing plan.

That approach remains central to the Strategy story and also shapes the outlook for MSTR stock. Investors in the stock continue to track both Bitcoin price direction and the company’s ability to access capital markets. Reports also said Strategy expanded its fundraising capacity with support from major Wall Street firms, giving it room for further stock and preferred share offerings.

Strategy Unrealized Losses Amid Criticism 

For the quarter ended March 31, 2026, Strategy reported a $14.46 billion unrealized loss on its digital asset holdings. The company also recorded a $2.42 billion deferred tax benefit, which partly offset that figure. Its reported carrying value for the Bitcoin portfolio was $51.65 billion.

Management also said more valuation allowances tied to deferred tax assets from the software business may still be required. The latest purchase shows that management is still adding Bitcoin during periods of price weakness or uncertainty.

This purchase comes as Peter Schiff renews his criticism of Bitcoin especially with Strategy’s regular buys. He argued that Bitcoin’s five-year return trails gold, silver, and major equity indexes, and he used that comparison to challenge its role as a long-term store of value.

Michael Saylor pushed back by using a different performance window starting in August 2020. He said Bitcoin still leads major assets on that basis. The exchange turned attention back to MSTR, which remains closely tied to Saylor’s Bitcoin strategy and investor demand for corporate Bitcoin exposure.

Schiff also questioned whether MSTR’s stock gains reflect Bitcoin strength alone. He argued that investors are paying a premium for Strategy’s ongoing ability to issue stock and preferred shares and use that capital to acquire more Bitcoin with its target to hit 1,000,000 coins. 

Source: https://coinpaper.com/16026/mstr-stock-forecast-as-strategy-restarts-btc-buys-with-4-871-bitcoin-april-purchase

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