Strategy Acquires $1 Billion Worth of Bitcoin Through Preferred Stock Sales

Strategy, a company focused on accumulating Bitcoin, has made another significant move in the cryptocurrency market. Between April 6 and April 12, 2026, the company acquired 13,927 coins for approximately $1 billion. This purchase brings Strategy's total Bitcoin holdings to 780,897 BTC, acquired at an average price of $75,577 per coin.

The funding for this acquisition came from the sale of preferred stock, specifically the STRC perpetual preferred stock. No common shares were sold during this period, leaving $27.1 billion available under that separate ATM program. The company has also raised approximately $1 billion through at-the-market sales of its preferred stock.

Strategy's Bitcoin holdings now represent more than 3.7% of the total fixed supply of 21 million coins, cementing the company's status as the single largest corporate holder of the asset. Michael Saylor addressed concerns over the sustainability of Strategy's acquisition model, noting that the company's Bitcoin breakeven annual return rate sits at approximately 2.05%. This means that if Bitcoin appreciates faster than this threshold, the company can cover its dividend obligations without needing to issue additional common shares.

From a technical standpoint, MSTR is forming a Bollinger Band squeeze at current levels, which tends to precede significant directional moves. The stock's price action will likely be influenced by the next move in Bitcoin's price trajectory.