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Strategy expanded its Bitcoin treasury to 766,970 BTC after buying 4,871 BTC for about $329.9 million between April 1 and 5, while Bitcoin traded near $69,200. The purchase came during a non-breakout phase, when many firms stepped back. Strategy also accounted for 44,377 BTC, or 94% of March’s 47,000 BTC in corporate purchases.
The timing followed a pattern that has become familiar for the company. Instead of waiting for a breakout, Strategy kept buying through drawdowns and soft price action. Bitcoin traded near the firm’s $58 billion cost basis during the latest move. That left the purchase tied to long-term conviction, even as the near-term setup remained uncertain.
The firm’s approach also showed how it absorbs supply during weaker periods. Could continued equity demand keep funding that pace if consolidation lasts longer? This latest purchase mattered because few corporate buyers matched that activity. While others slowed down, Strategy remained the dominant corporate accumulator during March.
The new buy also differed from some earlier cycles in one key way. This batch still sat above its own purchase cost when the company disclosed it, leaving the latest tokens in the green.
According to the recent SEC Form 8-K, Strategy bought Bitcoin between April 1 and 5. The firm funded the purchase through sales tied to its STRC and MSTR at-the-market stock offerings.
Strategy spent about $329.9 million on the latest Bitcoin purchase. During the same period, it raised roughly $473.9 million through equity, including $144 million from MSTR and larger inflows from STRC.
That gap showed more than simple deployment. It left a capital buffer that gave the company flexibility while Bitcoin remained in a weak structure.
Earlier funding rounds also followed the same general pattern. Proceeds rose to $1.84 billion and later reached $899 million, and both increases aligned with weaker prices rather than strength.
This setup stands apart from earlier debt-led accumulation cycles. It reduces forced selling risk, although it also shifts pressure toward shareholders through gradual dilution.
That trade-off now sits at the center of Strategy’s buying model. The company can keep accumulating during weak conditions, but the plan still depends on continued demand for its equity offerings.
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Strategy’s latest move also pointed to a more controlled treasury posture. After spending about $329.9 million, the firm still held roughly $2.25 billion in cash.
As Bitcoin traded near $69,200, Strategy carried about $14.46 billion in unrealized losses, according to the Form 8-K filing. The remaining liquidity gave the company room to respond if prices moved lower. The company’s average cost basis stood at $75,644 after the latest purchase. At the current spot price, that left the broader Bitcoin reserve down about 8.1%.
Strategy first moved underwater after the price crash at the start of February. Since then, market uncertainty, including the Iran war, has kept Bitcoin below the company’s break-even level. Even so, the latest acquisition pushed the firm past another major threshold. Its total investment in Bitcoin moved above $58 billion, and its 766,970 BTC now represents about 3.83% of network supply.
Elsewhere, Bitmine kept up its own Monday buying pattern in Ethereum. Over the past week, the company added 71,252 ETH, marking its largest weekly accumulation since December 2025.
Bitmine now holds 4,803,334 ETH in total. That equals about 3.98% of Ethereum’s circulating supply.
Strategy’s latest purchase showed that corporate Bitcoin buying can continue even during price consolidation. The firm added 4,871 BTC, kept a cash buffer, and relied on equity funding to stay flexible. The key takeaway is that Strategy remains committed to Bitcoin while managing near-term market uncertainty with a measured approach.
