Strategy’s Bitcoin treasury has reached an impressive record of $63.46 billion as of April 26, with the company now holding a total of 815,061 BTC. This accumulation occurred over 107 purchase events, with an average purchase price of $75,528 per coin. In a noteworthy uptick, the treasury gained nearly $2 billion over just the past week, increasing from $61.56 billion as Bitcoin continued its supportive rally. Executive Chairman Michael Saylor has indicated an ongoing strategy of accumulation.
This recent peak follows the firm’s most aggressive purchasing month in over a year. Just last week, Strategy added 34,164 BTC to its holdings for approximately $2.54 billion, with this acquisition marking the largest single-week purchase in 17 months. This bold move propelled the company ahead of BlackRock’s iShares Bitcoin Trust to become the largest publicly disclosed Bitcoin holder, surpassed only by the dormant wallets believed to belong to Bitcoin’s pseudonymous creator, Satoshi Nakamoto. Currently, Strategy controls about three-quarters of all Bitcoin held by corporate treasury vehicles.
With a cost basis of $75,528 per Bitcoin, the firm is now enjoying an unrealized gain of 3.08%, translating to roughly $1.9 billion above its total investment thus far. This increase has been bolstered by a purchasing strategy that emphasizes a mix of capital instruments rather than leaning on dilutive common stock issuances. The company recently secured $2.18 billion through the sale of STRF perpetual preferred equity, with an additional $366 million raised from at-the-market sales of MSTR shares, as outlined in their filings.
For shareholders, Saylor has indicated a 9.5% yield on Bitcoin year-to-date for 2026, an internal benchmark reflecting the growth of BTC per share in relation to the common stockholders. This metric is central to MicroStrategy’s message to equity holders regarding the ongoing capital issuance to bolster Bitcoin acquisitions.
The rapid purchasing pace has reinvigorated discussions among analysts about a potential one million BTC target, with some forecasts positioning this ambitious goal within reach by late 2026, contingent upon consistent capital market conditions. Nonetheless, critics, including economist Peter Schiff, have voiced concerns over possible vulnerabilities in Strategy’s preferred equity approach. They argue that sustaining the 11.5% yield on STRC necessitates either a significant uptick in Bitcoin’s performance or continuous capital raising efforts that could erode shareholder value.
Despite these criticisms, Saylor’s current strategy appears unwavering, even amidst Bitcoin’s fluctuating rally in April, which has seen some profit-taking around the $76,000 mark that limited earlier breakout efforts. The unfolding developments are likely to keep eyes on Strategy as it continues its ambitious path in the cryptocurrency space.
