Strategy (MSTR) Stock Falls After Third-Largest Bitcoin Buy on Record

20-Apr-2026 CoinCentral

TLDR

  • Strategy bought 34,164 bitcoin for $2.54 billion last week, its third-largest purchase ever.
  • The average buy price was $74,395 per coin, bringing total holdings to 815,061 BTC.
  • Total spend on bitcoin now sits at roughly $61.56 billion at an average cost of $75,527 per coin.
  • The purchase was funded by $366 million in common stock sales and $2.2 million from preferred stock (STRC).
  • MSTR is down over 2.5% pre-market and is off 48% over the past 12 months.

Strategy added another massive chunk of bitcoin to its treasury last week, picking up 34,164 BTC for roughly $2.54 billion. That makes it the third-largest single purchase the company has ever made.

The buy was disclosed in a Monday filing. The average price paid was $74,395 per coin.

That brings Strategy’s total bitcoin holdings to 815,061 BTC. The company has spent approximately $61.56 billion acquiring that stack, at an average cost of $75,527 per coin.


MSTR Stock Card
Strategy Inc, MSTR

With bitcoin trading at around $75,000 at the time of the filing, Strategy is essentially breakeven on its entire position.

The company has been buying bitcoin since 2020, when it pivoted away from its legacy software business and began using BTC as its primary treasury asset. It remains the largest publicly listed corporate holder of bitcoin in the world.

How the Purchase Was Funded

Last week’s acquisition was not funded through cash on hand alone. Strategy raised $366 million through common stock offerings and an additional $2.2 million through sales of its perpetual preferred stock, known as Stretch (STRC).

This approach — selling equity to buy bitcoin — has become the company’s standard playbook. It keeps the bitcoin buying going without taking on traditional debt.

STRC was up 0.12% following the disclosure, while MSTR itself was down more than 2.5% in pre-market trading on Monday.

MSTR Stock Under Pressure

Despite the scale of the purchase, the market reaction was muted — and slightly negative.

MSTR was trading at $166.52 per share at the time of the filing. The stock jumped more than 10% on April 17 after news emerged that the company had returned to breakeven on its bitcoin holdings.

But that bounce has not done much to repair the longer-term damage. MSTR is down 48% over the past 12 months.

The stock’s performance is closely tied to bitcoin’s price. When BTC moves, MSTR tends to move harder in the same direction — both up and down.

Strategy’s preferred stock offerings, including STRC and STRD, have given the company additional tools to keep raising capital. STRD was up 0.53% following Monday’s disclosure.

STRF, another preferred instrument, was down 0.28% at the same time.

The company now holds over 815,000 bitcoin. At a $75,000 BTC price, that position is worth roughly $61.1 billion.

Bitcoin was trading at approximately $75,000 at the time of the Monday filing, putting Strategy’s entire holdings right at breakeven based on its average cost basis of $75,527 per coin.

The post Strategy (MSTR) Stock Falls After Third-Largest Bitcoin Buy on Record appeared first on CoinCentral.

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