Strategy, the firm led by Michael Saylor, purchased 34,164 Bitcoin for 2.54 billion dollars between April 13 and 19, 2026. According to the 8-K filed with the SEC, the company’s treasury reached 815,061 BTC in its total reserves. This operation stands as the entity’s third-largest historical purchase by coin volume, surpassed only by the records set in November 2024.
The financial structure of this acquisition shows an evolution in the company’s capitalization model. The company funded 85.7% of the operation through STRC, its perpetual preferred security, which generated 2.18 billion dollars in fresh capital over the past week. Meanwhile, the sale of Class A common stock contributed an additional 366 million dollars. This approach reduces reliance on the traditional convertible debt that characterized the 2021 and 2024 cycles, allowing for more aggressive asset absorption.
This massive accumulation has structural implications for the global digital asset market. With 815,061 units, Strategy represents 3.88% of the 21 million total supply, consolidating an unprecedented concentration of assets in a public entity. The current figure far exceeds the 55,500 BTC purchased in 2024, indicating that the absorption rate of the liquid supply has accelerated despite the maturity of the current cycle. This capital strategy, previously analyzed in our specialized analisys, suggests an attempt to capture floating liquidity ahead of potential supply shocks.
The STRC instrument redefines corporate treasury financing at Strategy
The fundraising success was supported by record-breaking days of market activity. On April 13 and 14, the share sale program generated a combined volume exceeding 17,204 BTC, representing a 518% increase compared to the previous monthly average. This liquidity has allowed the company to maintain a steady buying pace, even with an acquisition average of 74,395 dollars per unit, a figure slightly below the historical average cost of its portfolio, situated at 75,527 dollars.
To incentivize institutional investor retention, CEO Phong Le confirmed the intention to pay semi-monthly dividends for STRC holders. This measure seeks to position the company as the only one in the world to offer this distribution scheme for preferred securities. It is a unique market capital raising strategy that transforms the intrinsic volatility of criptomonedas into a predictable cash flow for the shareholder, leveraging the corporate balance sheet against the appreciation of the underlying asset.
The market is now watching the firm’s next moves after updating its official purchase records. The focus will shift to the second-quarter earnings reports of 2026, which will verify if the STRC dividend flow succeeds in sustaining institutional demand. Strategy’s ability to continue absorbing Bitcoin will depend on the stability of this new financial instrument in the face of possible corrections in the spot price.
This article is for informational purposes and does not constitute financial advice.
