The amount of held coins surpasses 780k! Strategy invests 1 billion USD to buy 13,927 Bitcoins.

According to the Form 8-K report submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, Bitcoin reserve leader Strategy (NYSE: MSTR) spent about $1 billion to snap up 13,927 bitcoins between April 6 and 12, at an average price of $71,902 per bitcoin. This is also the company’s fourth-largest weekly purchase so far this year.
Strategy co-founder and Executive Chairman Michael Saylor said that after this round of additional buying, the company’s bitcoin holdings reached 780,897 bitcoins. Based on the supply cap of 21 million bitcoins, Strategy has now captured more than 3.7% of all bitcoin revenue across the network.
However, when you look at the books, Strategy’s average cost basis for bitcoin is about $75,577 per coin, with total invested funds as high as $59 billion. But its current value is about $55.4 billion, meaning Strategy is currently bearing an unrealized loss (paper loss) of about $3.6 billion.
In terms of funding sources, the cash for this buying spree by Strategy mainly relied on the perpetual preferred stock “Stretch (STRC).” Last week, the company sold more than 10.02 million shares of STRC, raising $1 billion. Strategy noted that as of April 12, the STRC issuance plan still had as much as $21.6 billion in amounts available for sale; as for the A-share ordinary shares (MSTR), there is also $27.1 billion in issuance amounts.
Regarding recent market turbulence, Michael Saylor previously said at an investor meeting hosted by Mizuho Securities that bitcoin has likely already bottomed out around the $60,000 mark. He pointed out that the end of a downtrend often is not due to an improvement in market sentiment, but because “the selling pressure from forced liquidation has already run dry.”
Last week, Wall Street investment bank TD Cowen cut Strategy’s target price by 20% to $350, citing a shift to more conservative expectations for bitcoin’s future price, and also lowering the valuation of the company’s potential future bitcoin earnings.
However, although TD Cowen cut the target price for the industry leader, it also turned its attention to other digital asset reserve companies for the first time. It added Sharplink, Strive, Nakamoto Holdings, and The Smarter Web Company to its tracking list, and assigned a “Buy” rating to all of them.