Author：Encryption Tracker
Strategy recently purchased 4,871 Bitcoin for $329.9 million, choosing to fund the acquisition through equity rather than debt.
The move, highlighted by CryptoQuant analyst JA Maartunn, shows the company’s continued reliance on stock sales to finance its aggressive Bitcoin accumulation strategy. Strategy’s latest purchase comes amid Bitcoin’s current price struggles.
Key Points
- Strategy bought 4,871 Bitcoin for $329.9 million, increasing total holdings to 766,970 BTC.
- The company raised $473.9 million through equity, including $144.0 million from MSTR shares and $329.9 million from STRC preferred stock.
- The firm reported a $14.46 billion unrealized loss in Q1 2026.
- Despite Bitcoin falling 20.3% this year, Strategy has made 13 purchases in 2026, accumulating 94,440 BTC for $7.594 billion.
Strategy’s Bitcoin Accumulation
Strategy shared these details in its Form 8-K filed on April 6. In the filing, the firm highlighted the continued use of its at-the-market (ATM) equity program, which allows it to raise funds by selling preferred and common stock.
Specifically, from March 30 to April 5, 2026, Strategy raised about $474 million in total net proceeds from different securities. Most of this came from its variable-rate preferred stock (STRC) and Class A common stock (MSTR).
Even after raising this amount, Strategy confirmed that it still has tens of billions of dollars in remaining issuance capacity, meaning it can continue to raise significant funds through equity if necessary.
Strategy Seeing Unrealized Losses
The filing also explained how Strategy used the funds, with a strong focus on buying Bitcoin. Between April 1 and April 5, the company bought 4,871 BTC for $329.9 million, at an average price of $67,718 per Bitcoin.
Notably, this purchase increased its total holdings to 766,970 BTC, acquired at a total cost of about $58.02 billion and an average price of $75,644. The latest move follows a one-week pause in its purchase spree. Meanwhile, the company still relies heavily on selling equity to fund these purchases.
At the same time, the filing highlighted a major concern. Strategy reported a $14.46 billion unrealized loss on digital assets for Q1 2026, as Bitcoin continues to decline. As of March 31, 2026, its digital assets were valued at $51.65 billion on its balance sheet.
Recent Purchase Driven by Equity
Commenting on the latest development, JA Maartunn provided more details on how the company funded the recent purchase, stressing that Strategy used equity, not debt. He explained that the firm bought the 4,871 BTC using $329.9 million raised through its ATM programs.
Strategy’s latest BTC purchase (Apr 1–5, 2026) wasn’t funded by debt, it was equity-driven.
Here’s the breakdown:
• Total BTC acquired: 4,871• Capital deployed: $329.9MFunding sources (ATM programs):
• MSTR common stock:– 1,175,844 shares sold → $144.0M• STRC… https://t.co/DasoWcK5Yd pic.twitter.com/aHxfbFpt3C
— Maartunn (@JA_Maartun) April 6, 2026
According to him, Strategy sold 1,175,844 shares of MSTR common stock, raising $144.0 million, and also issued 3,303,227 shares of STRC preferred stock, which brought in $329.9 million. In total, the company raised $473.9 million through equity.
Maartunn also pointed out that Strategy raised about $144 million more than it spent, meaning it still has extra U.S. dollar funds on hand. This leftover capital gives the company room to either continue buying Bitcoin or cover other needs.
Persistent Buying Despite Market Decline
Despite Bitcoin facing pressure, Strategy has continued to buy throughout 2026. The crypto firstborn is down 20.3% this year, yet the company has not slowed its pace.
This latest move marks Strategy’s 13th Bitcoin purchase of the year, bringing its total for 2026 to 94,440 BTC. So far, it has spent $7.594 billion on these purchases.
With Bitcoin currently trading at $69,400, the total value of the coins bought this year is about $6.554 billion, which means these holdings are currently at a loss. Despite this, the company continues to stick with its equity-based strategy, showing strong belief in Bitcoin despite the ongoing price swings.
