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Home/Markets & Investing/MICHAEL SAYLOR · STABLECOIN US LEGISLATION

MicroStrategy's $1 billion Bitcoin purchase reveals a $49 billion financing own-loop

WS

Willow Stanton

Michael Saylor · Apr 13, 2026

MicroStrategy's $1 billion Bitcoin purchase reveals a $49 billion financing own-loop

Source: DojiDoji Data Terminal

MicroStrategy's total Bitcoin reserve now stands at 780,897 BTC, representing 3.719% of the total supply. The company's overall average acquisition cost is $75,577 per BTC, while the current market value of the holdings is approximately $55.5 billion against a cumulative cost exceeding $59 billion. In the first quarter of 2026, the company reported $14.46 billion in latent losses on digital assets.

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Between April 6 and 12, 2026, the company bought 13,927 BTC at an average price of $71,902 per BTC, totaling $1 billion. This purchase was funded by the sale of 10,028,363 STRC shares of perpetual preferred stock, which generated net proceeds of $1.0013 billion. No MSTR shares were sold during this period.

Related Brief4h ago
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Strategy funds $1 billion Bitcoin purchase through perpetual preferred stock sales

MSTR shares declined 2.32% to $125.65 in pre-market trading after Strategy announced the acquisition of 13,927 BTC for approximately $1 billion. The company funded the purchase entirely through the sale of its perpetual preferred stock, Stretch (STRC). The Bitcoin were acquired at an average price of $71,902 per coin. This brings Strategy's total holdings to 780,897 BTC, representing a total investment of $59.02 billion at an average cost basis of $75,577 per Bitcoin.

The acquisition reflects a strategy of buying on the dip, as the new tranche was purchased below the company's average acquisition price. This was the fourth largest week of purchases for the company this year.

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Stablecoin users will face restricted access to funds, reduced on-chain privacy, and an increase in wallet freezes and asset seizures. This is the result of a a Treasury Department proposal to implement the GENIUS Act, which treats permitted payment stablecoin issuers as permitted payment stablecoin issuers as financial institutions under the Bank Secrecy Act. Under this rule, the US Treasury, through FinCEN and OFAC, { "// own single quote quote: the source material provided does not contain a quote from a person, and the "// own single quote quote: the source

MicroStrategy has built a financing mechanism dedicated to its expansion. The company maintains $49.1 billion in available equity capacity to buy more Bitcoin, consisting of $21.6 billion under the STRC program and $27.1 billion under the MSTR program.

Related Brief14h ago
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MicroStrategy can sustain dividends if Bitcoin grows 2.05% annually

MicroStrategy can fund its dividend payments without issuing new shares or raising additional capital if Bitcoin appreciates by 2.05% annually. This threshold is the minimum annual growth required to cover dividend obligations and corporate operational costs from the company's Bitcoin holdings alone. The company currently holds approximately 214,400 Bitcoin. This calculation stems from the company's financial modeling to determine the break-even point for maintaining dividends without the need for additional financing.

Michael Saylorstablecoin US legislationDOL fiduciary rule ERISAcrypto money laundering enforcementcrypto IRS ruling

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