The strategy continues to buy Bitcoin, increasing the total amount of BTC held to over 531,000.

Strategy (, formerly MicroStrategy), has just purchased an additional 3,459 BTC worth approximately 285.8 million USD, according to an 8-K filing submitted to the Securities and Exchange Commission ( SEC) on Monday. The transaction occurred between April 7 and 13, at an average price of about 82,618 USD per Bitcoin.

According to co-founder and CEO Michael Saylor, Strategy currently holds a total of 531,644 BTC — worth over 45 billion USD — purchased at an average price of about 67,556 USD/BTC, with an estimated total cost of approximately 35.9 billion USD, including fees and related costs. This figure represents more than 2.5% of the total maximum supply of 21 million BTC.

Increase Capital through MSTR Stock Sale

The most recent amount of BTC purchased was funded by the proceeds from the sale of Class A common stock (MSTR). Last week, Strategy issued 959,712 shares of MSTR and raised approximately 285.7 million USD. As of April 13, the company still has 2.08 billion USD worth of MSTR shares that can be issued under this program.

At the same time, Strategy did not issue any additional STRK non-convertible preferred shares in the past week, and there is still $20.97 billion worth of STRK shares ready to be issued according to the current fundraising plan.

The preferential stocks STRK and STRF are part of the company's long-term strategy "plan 21/21", aiming to raise a total of 42 billion USD from the issuance of stocks and bonds to continue purchasing bitcoin.

The day before, Michael Saylor continued to hint at upcoming BTC purchases through a data holding update post on the company's tracking page, along with the comment "No tariffs on orange dots" (, loosely translated as: "No tariffs on orange dots" ).

Recognized unrealized losses of nearly 6 billion USD in Q1

Before the most recent purchase, Strategy acquired an additional 22,048 BTC during the period from March 24 to 30 at an average price of 86,969 USD/BTC, equivalent to about 1.9 billion USD in cash — increasing the total holdings to 528,185 BTC.

However, in the first week of April, the company temporarily halted its buying activities and announced an unrealized loss of up to 5.91 billion USD in Q1. In this quarter, Strategy spent about 7.66 billion USD to purchase 80,715 BTC at an average price of 94,922 USD each — a high purchase level in the context of BTC prices dropping nearly 12%, marking Bitcoin's worst quarter since 2018.

Despite facing pressure from the declining prices, the market capitalization of Strategy still reached 79.9 billion USD — significantly higher than the net asset value (NAV) from the amount of bitcoin held, causing some investors to continue to worry about this "premium" valuation.

However, analysts at research firm Bernstein believe that with a debt ratio below 13% and no payments due before 2028, Strategy's financial leverage remains at an acceptable level. Bernstein forecasts that Strategy's bitcoin holdings could double to over 1 million BTC by the end of 2033.

MSTR recovered strongly last week

MSTR stock rose 10.2% on Friday, closing at 299.98 USD, amid strong global market volatility due to tariff-related information from the Trump administration. For the week as a whole, MSTR increased by 15.3%. In pre-market trading on Monday, MSTR continued to rise by 3.3% according to data from TradingView.

After increasing over 568% in 2024, MSTR shares have had a rough start in 2025. However, the recent uptrend has helped the stock return to breakeven since the beginning of the year.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their due diligence before making any decisions. We are not responsible for your investment decisions.

• 4 indicators suggest that the price of Bitcoin is about to rise above 100,000 USD
• Saylor indicates he will continue to buy Bitcoin after Strategy reports an unrealized loss of nearly 6 billion USD in Q1

Thach Sanh

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