MicroStrategy increases its position by an additional 3,273 BTC: average price $77.9万, total cumulative holdings 81.83万 BTC

According to Strategy Inc.’s April 27 press release and its Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on the same day, the company last week (April 20 to April 26) made an additional buy of 3,273 bitcoins (BTC). Its total holdings now stand at 818,334 BTC, all funded with the $255 million raised through an ATM (at-the-market) equity offering.

4/20-4/26 adds 3,273 BTC, average price $77,906

The trading window this week is from April 20 to April 26, 2026. The company purchased 3,273 BTC for a total outlay of $255 million (including fees), at an average purchase price of $77,906 per BTC. Compared with the spot bitcoin price during the same period, which traded in the $75,000–$79,400 range, this additional buy was made in the middle of the range rather than deliberately buying at the low end. This reflects that Strategy is maintaining its “mechanical weekly entry” strategy instead of attempting to time the market.

Cumulative holdings: 818.3k BTC, average cost $75,537, total outlay $61.8 billion

As of April 26, Strategy has cumulatively held 818,334 BTC, with a total investment amount of $61.81 billion (including fees) and an average purchase cost of $75,537 per BTC. Using BTC’s end-of-April market price of $79,000, the mark-to-market value of this asset portfolio is approximately $64.6 billion, with unrealized gains of about $2.8 billion (equivalent to about 4.5%).

In terms of position size, Strategy is still about 180k BTC short of overtaking the “single largest individual holder” position—estimated by Satoshi Nakamoto’s holdings—of 1 million BTC. At this week’s pace of 3,273 BTC, it would still take 50–60 weeks, or about 12–14 months, to reach the target.

Source of funds: ATM sells 1.4516 million shares of MSTR and raises $255 million

This week’s purchase funding came entirely from ATM issuances of MSTR Class A common stock (NASDAQ: MSTR). A total of 1,451,601 shares were sold, netting $255 million. Aside from MSTR, there were no issuance records this week for any of the four classes of preferred stock (STRF, STRC, STRK, STRD).

For MSTR shareholders, each week’s ATM issuances run on two tracks—“equity dilution” and “BTC holdings growth.” As long as BTC’s price increase is sufficient to offset the dilution, the BTC per share (BTC per share) can continue to grow. Saylor’s prior public stance has been that BTC can pay preferred stock dividends as long as the annual BTC gain exceeds 2%, and the current model is still operating within that range.

Five securities: $53.7 billion in remaining issuance capacity remains unused

Strategy currently has remaining capacity available for future issuances (available for issuance), as disclosed in the 8-K:

MSTR common stock: $26.47 billion (including the $21 billion increase added on March 23)

STRC (Variable Rate Stretch preferred stock): $19.46 billion

STRD (10% Stride preferred stock): $4.01 billion

STRK (8% Strike preferred stock): $2.10 billion

STRF (10% Strife preferred stock): $1.62 billion

Total remaining issuance capacity is approximately $53.7 billion. That means even if BTC stops rising, Strategy still has more than 2 years’ worth of “ammunition” to continue adding to its purchases. However, the actual issuance pace depends on market acceptance—if the MSTR stock price falls and the preferred stock ARR risk premium rises, the room available would shrink.

Implications for the BTC market: steady buy-side demand—no longer marginal pricing power

In 2024–2025, Strategy became the marginal buyer for bitcoin after a surge of 30,000+ BTC bought in a single week. But starting in Q1 2026, the buying pace has clearly slowed: this week’s 3,273 BTC is dramatically lower than the prior week’s 34,164 BTC (4/13–4/19). The reasons may include: (1) the pace of ATM issuances is influenced by the MSTR stock price—when the stock price falls, dilution costs rise; (2) ETFs and other companies (Metaplanet, BitMine, etc.) have started to share institutional buy-side demand; and (3) after BTC moved from the 73K range to the 79K range, Strategy is not in a rush to chase the price.

For the market, Strategy is moving back from “marginal pricing power” to the role of a “steady weekly buyer.” Its effect in dampening BTC’s short-term volatility is still present, but it is no longer a single driving factor. The next observation point is whether, in early May, it will return to a weekly pace of more than 10,000 BTC.

This article: MicroStrategy adds 3,273 BTC at an average price of $77.9k, cumulative holdings 818.3k BTC first appeared on Lian News ABMedia.