#StrategyBuys13,927BTC

Strategy dropped $1 billion on 13,927 BTC between April 6 and April 12, at an average entry of $71,902 per coin. That brings their total stash to 780,897 BTC, accumulated at a blended cost of roughly $75,577 across a cumulative spend of $59.02 billion.

What makes this one interesting is the funding mechanic. The entire purchase was financed through sales of STRC, their Stretch perpetual preferred stock, not common equity dilution. That is a meaningful structural shift — Saylor is essentially leveraging the preferred stock market to keep stacking without immediately hitting MSTR shareholders with dilution. The yield on the strategy is reportedly 5.6% BTC Yield YTD 2026, and Saylor noted the BTC Breakeven Annual Return Rate sits at around 2.05%, meaning as long as Bitcoin outpaces that threshold, the preferred dividends are covered indefinitely without touching new MSTR share issuance.

BTC is currently trading around $74,580, which means Strategy is sitting roughly 1.4% below their average cost basis of $75,577 in aggregate — not deeply underwater, but not in comfortable profit territory either on the full book. This latest tranche was bought at $71,902, so that specific batch is in the green right now.

The broader signal here is that corporate accumulation is not slowing down. Strategy is widening the gap versus every other public company holding Bitcoin, and the STRC-funded purchase cycle is becoming their repeatable playbook. Whether the preferred stock market can absorb continued issuance at scale without pricing stress is the key variable to watch going forward.