Strategy Purchased 1,031 BTC Last Week, Shifting Financing Strategy from Credit and STRC to Stock Sales

According to a post by Michael Saylor on X, Strategy spent $76.6 million acquiring 1,031 Bitcoin last week, at an average price of $74,326 per BTC.

The purchase size is notably smaller than the previous two acquisitions, which involved 17,994 and 22,337 Bitcoin respectively, with the latter representing the largest single acquisition in 2026.

Regarding funding sources, Strategy's Bitcoin acquisition this time was financed entirely through on-the-run (ATM) issuance of MSTR stock sales, marking a stark contrast to the recent financing strategy relying on credit and STRC.

Data shows that 55% of the funds for the March purchase came from credit, with the company specifically noting at the time that "we recently purchased additional BTC through STRC." Given the smaller scale of this acquisition, the shift in financing approach is understandable.

Currently, Strategy's Bitcoin holdings have risen to 762,099 BTC, representing approximately 3.81% of Bitcoin's circulating supply, with cumulative investment reaching $57.69 billion. However, since Bitcoin's price has remained below the cost basis of $75,694, Strategy's Bitcoin reserves are currently underwater.

Despite this, Strategy's position appears more optimistic compared to Bitmine, which can be viewed as the "Strategy counterpart" in the Ethereum space.

At present, Bitmine is actively expanding in the Ethereum market, acquiring 65,341 ETH in the past week, compared to its previous weekly average purchase of 45,000-50,000 ETH.

Analysts suggest that ETH is in the final stage of the "crypto winter," which may explain Bitmine's continued accumulation, also reflecting differentiated strategies and positions of different companies amid market volatility in the cryptocurrency sector.

From recent market performance, Bitcoin dipped below $68,000 last week before rebounding to $70,500, providing institutional investors with relatively low entry points for accumulation during this period.

Therefore, even though enterprises' average positions are currently underwater, institutions like Strategy continue to add positions, demonstrating their unwavering confidence in the long-term development of the cryptocurrency market.

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