Strategy (formerly MicroStrategy) purchased 4,871 bitcoin for approximately $329.9 million on April 6, 2026, at an average price of roughly $67,718 per coin.The acquisition was telegraphed by co-founder Michael Saylor via a Sunday post reading “Back to Work,” a familiar signal to his followers that a buy was imminent.
Holdings and Cost Basis: Unrealized Losses Mount
Following this purchase, Strategy’s total bitcoin holdings have risen to 766,970 BTC, with cumulative spending of approximately $58.02 billion. The average cost per bitcoin now stands at $75,644, meaning that at current market prices (around $67,718), the position carries a significant unrealized loss. Despite this, the company has shown no indication of slowing its accumulation strategy.
Saylor’s New Thesis: The Death of the Four-Year Cycle
In a broader statement released Sunday, Michael Saylor outlined a shift in his thinking about bitcoin’s market behavior. He argued that global consensus has now settled on bitcoin as “digital capital” and that the traditional four-year halving cycle no longer governs price action. According to Saylor, price is now driven by capital flows, and bank and digital credit will determine bitcoin’s growth going forward. He also flagged what he sees as the primary threat to the asset: “The biggest risk is bad ideas driving iatrogenic protocol changes.”
Market Reaction: Bitcoin Reclaims $70,000
On the same day as Strategy’s purchase, bitcoin briefly hit a session high of $70,275, pushing its market capitalization back above $1.4 trillion. The broader crypto rally was supported by hopes of a ceasefire in the Middle East, which sparked a relief rally across risk assets. Analysts noted that institutional buying like Strategy’s provides a floor, but near-term price movement remains tied to macro liquidity conditions.
As the largest corporate holder of bitcoin globally, Strategy’s actions are closely watched. Saylor’s latest declaration signals that the company views bitcoin less as a cyclical speculation and more as a permanent component of institutional capital allocation. If other large entities follow suit, bitcoin’s pricing mechanism could undergo a fundamental transformation.