• Strategy bought 4,871 BTC for ~$329.9M at ~$67,718 per coin on April 6, 2026, per Saylor’s announcement.
• With 766,970 BTC held at an avg cost of $75,644, Strategy carries a notable unrealized loss at current prices.
• Saylor declared the Bitcoin four-year cycle dead, citing capital flows and bank credit as the new price drivers.

The purchase came at roughly $67,718 per coin, bringing Strategy’s total holdings to 766,970 BTC as of April 5, 2026. The company has now spent approximately $58.02 billion accumulating bitcoin at an average cost of $75,644 per coin.

With bitcoin trading well below that average, the position carries a meaningful unrealized loss at current prices. Saylor telegraphed the buy a day earlier with a brief Sunday post — “Back to Work” — a two-word signal his followers have come to recognize as a purchase announcement.

The buy arrived alongside a more expansive statement from Saylor laying out his current thinking on where bitcoin stands. On Sunday, Saylor wrote that global consensus has settled around bitcoin as digital capital and that the traditional four-year halving cycle no longer governs price action. He said price is now driven by capital flows, and that 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.”

The statement reflects a shift in how Saylor frames bitcoin’s position — less as a speculative cycle play and more as a permanent fixture in institutional capital allocation. Strategy has made no indication it plans to slow its accumulation pace.

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