Strategy Adds 6,556 Bitcoin in $555M Buying Spree as Saylor Doubles Down

Between April 14 and April 20, Michael Saylor’s firm Strategy made another aggressive move into Bitcoin, purchasing 6,556 BTC at an average price of $84,785, according to a new SEC filing published Monday. The total spend for the week: $555.8 million.

This latest acquisition was fully funded through equity sales. Strategy raised $555.5 million by offloading 1.76 million shares of its common stock (MSTR) and over 91,000 preferred shares (STRK). These transactions are part of the firm’s ongoing stock issuance programs, initiated in October 2024 for MSTR and March 2025 for STRK. Combined, the two programs allow up to $42 billion in equity to be sold. As of April 20, there's still $22.49 billion worth of shares left to issue — $1.53 billion in MSTR and $20.96 billion in STRK.

This latest purchase brings Strategy’s total Bitcoin holdings to 538,200 BTC, acquired at a total cost basis of $36.47 billion. The average purchase price across the portfolio now sits at $67,766 per bitcoin. With BTC trading near $87,000, the company’s crypto reserve is now worth approximately $46.8 billion — representing a paper gain of more than $10 billion.

Interestingly, the company had reported $5.91 billion in unrealized losses for Q1 2025 just weeks ago, due to accounting rules that require marking down digital assets when prices drop below acquisition costs. But thanks to Bitcoin's rally this month, those red numbers have now flipped into green, giving Strategy a massive notional turnaround.

Strategy’s bullish approach appears to be gaining some traction with investors. Shares of MSTR are up around 2.2% today, trading at approximately $324, according to The Block.