Strategy (MicroStrategy) Acquires 13,927 Bitcoin for $1 Billion, Holdings Reach 780,897 BTC

MicroStrategy, led by co-founder Michael Saylor, acquired 13,927 Bitcoin for $1 billion through sales of its STRC perpetual preferred stock, bringing total holdings to 780,897 BTC worth approximately $55 billion—over 3.7% of Bitcoin's total supply. The company has made 105 Bitcoin purchases since August 2020, with March 2026 alone seeing accumulation of 46,233 BTC, nearly triple the 16,200 BTC produced by global miners that month. Despite holding Bitcoin at a blended cost basis of $75,644 per coin and reporting $14.5 billion in unrealized losses in Q1 2026, the company continues its aggressive acquisition strategy funded by preferred equity with a 2.05% breakeven return rate. Bitcoin traded at $71,800 on April 13, 2026, up 7.9% for the week and holding above $70,000 for four consecutive days amid geopolitical developments including an Iran ceasefire and U.S. blockade of the Strait of Hormuz.

MicroStrategy's Bitcoin Acquisition Strategy and Scale

• ▪Strategy's most recent Bitcoin purchase on April 6, 2026 added 4,871 BTC for $329.8 million.
• ▪Strategy's total Bitcoin holdings stood at 766,970 BTC as of the first-quarter 2026 SEC filing.
• ▪Strategy (MicroStrategy) acquired 13,927 Bitcoin for $1 billion.

Financial Performance and Funding Model

• ▪Strategy disclosed $14.5 billion in unrealized losses on its Bitcoin holdings in a first-quarter 2026 SEC filing.
• ▪Strategy acquired its 766,970 BTC at a blended cost basis of $75,644 per Bitcoin.
• ▪Strategy's breakeven annual return rate on its STRC preferred equity product is approximately 2.05%.
• ▪Strategy's Bitcoin cost basis of $75,644 was roughly $5,000 above the market price as of the first-quarter 2026 filing.

Market Context and Geopolitical Factors

• ▪Bitcoin held above $70,000 for the fourth consecutive day since the Iran ceasefire was announced.
• ▪Bitcoin traded at $71,800 on Monday, April 13, 2026, according to CoinDesk data.
• ▪Bitcoin was up 7.9% on the week as of Monday, April 13, 2026.

Perspective of STRC preferred stock investors

• ▪STRC preferred equity investors accept a 2.05% breakeven annual return rate to gain indirect exposure to MicroStrategy's Bitcoin holdings.

Perspective of Bitcoin market observers

• ▪MicroStrategy's 780,897 BTC holdings represent over 3.7% of Bitcoin's total supply, making it a systemically significant holder.

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