Strategy adds $330M BTC as paper losses top $14.5B in Q1

Michael Saylor’s Strategy, the world’s largest publically listed holder of Bitcoin, resumed buying BTC past week aft reporting nary purchases successful the last week of March.

Strategy acquired 4,871 Bitcoin (BTC) for $329.9 cardinal past week, according to an 8-K filing with the US Securities and Exchange Commission connected Monday.

The purchases were made astatine an mean terms of $67,718 per coin, beneath the company’s wide mean acquisition terms of $75,644. The caller acquisitions bring Strategy’s holdings to 766,970 BTC, acquired for a full outgo of astir $58 billion.

Source: SEC

In summation to the acquisition update, Strategy besides reported its first-quarter fiscal results, including a $14.46 cardinal unrealized nonaccomplishment connected integer assets and a $2.42 cardinal deferred taxation benefit.

Deferred taxation plus offset by valuation allowance arsenic bitcoin trades beneath outgo basis

Strategy said its Bitcoin holdings proceed to commercialized beneath their outgo basis, resulting successful the designation of a deferred taxation plus tied to unrealized losses connected its integer assets.

As of March 31, the institution recorded a $1.73 cardinal deferred taxation plus related to those unrealized losses, which was offset by a corresponding $1.73 cardinal valuation allowance against the amount.

Source: SEC

“Because the just worth of Strategy’s Bitcoin holdings is beneath its outgo basis, Strategy expects to found an further valuation allowance of $0.5 cardinal against these deferred taxation assets,” the institution said.

Strategy saw Bitcoin autumn beneath its mean acquisition terms successful aboriginal February, marking the archetypal clip since precocious 2023 that BTC traded beneath its outgo basis.

Related: 80% of Strategy's ‘Stretch’ buyers are mom-and-pop investors

Despite the decline, the institution has continued accumulating Bitcoin, buying astir 54,000 BTC since Feb. 2. Strategy was particularly assertive successful March, making some of its largest play purchases connected grounds during the month, with monthly acquisitions netting 41,362 BTC.

Strategy’s full Bitcoin purchases successful the archetypal 4th of 2026 reached 89,316 BTC, with an aggregate walk of astir $6.3 billion.

$21 cardinal offering of STRC and a caller $21 cardinal MSTR offering 

Strategy mentioned that the institution is updating its at-the-market (ATM) program, including a caller $21 cardinal offering of Stretch (STRC) banal and a caller $21 cardinal offering of Common A (MSTR) stock. The institution besides terminated its anterior Strike (STRK) banal offering and launched a caller $2.1 cardinal STRK banal offering.

The amounts disposable for STRC and MSTR banal bespeak the full remaining capableness nether some the existing programs and the recently added offerings. Sales nether the STRC and MSTR increases whitethorn statesman erstwhile the existing capableness is substantially used, the institution said.

Source: SEC

During March 30–31, Strategy sold astir 2.28 cardinal shares of STRC and 582,550 shares of MSTR, generating astir $299.3 cardinal successful nett proceeds. From April 1–5, the institution sold an further 1 cardinal shares of STRC and 593,294 shares of MSTR, raising astir $174.6 million.

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