Strategy purchased approximately 3,376 Bitcoins for approximately $255 million on April 27, 2026, funded by the sale of approximately 1.45 million shares of common stock through its at-the-market stock offering program, according to an SEC filing submitted on that date. The acquisition brings the company’s cumulative holdings to 818,334 BTC – acquired for a total of $61.81 billion at an average cost of $75,537 per coin.
This figure represents approximately 3.9% of the fixed supply of 21 million Bitcoin. Each weekly purchase removes additional coins from the active float at a time when ETF spot demand and corporate cash accumulation are simultaneously compressing the liquid market.
Strategy acquired 3,273 BTC for ~$255.0 million at ~$77,906 per bitcoin and achieved a BTC yield of 9.6% since the start of 2026. As of 04/26/2026 we held 818,334 $BTC acquired for ~$61.81 billion at ~$75,537 per bitcoin. $MSTR $STRC
-Michael Saylor (@saylor) April 27, 2026
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ATM Stock Program Finances Purchase: How Bitcoin Accumulation Mechanism Works
The mechanism works as follows: Strategy sells newly issued common stock on the open market through its market registration program, converts the proceeds into Bitcoin, and holds the coins on its balance sheet indefinitely. The April 27 purchase is a departure from recent transactions that benefited from the proceeds of STRC, the company’s floating rate preferred stock offering – this purchase was funded entirely by dilution of common stock.
The previous week’s acquisition – 34,164 BTC at $74,395 per coin, totaling over $2.5 billion – relied more on the STRC instrument. As noted previously, Strategy has structured multiple capital channels precisely to maintain the velocity of accumulation, regardless of the most favorable funding window at any given time. April 2026 purchases alone exceeded $6.4 billion in total.
Source: Strategy
Strategy’s BTC yield – a proprietary metric measuring Bitcoin’s growth per diluted share – reached 9.6% year-to-date through the April 27 filing, up from 9.5% in the previous disclosure. The number is not a return to the traditional sense; it measures how quickly Bitcoin exposure per share increases as the company continues to issue shares to finance its purchases. Parts are not sold.
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818,334 BTC and reduction in float: what effect does sustained corporate accumulation have on market structure?
Strategy’s holdings now exceed the combined Bitcoin cash positions of all other publicly traded companies by a margin that makes direct comparison difficult. GameStop, for example, confirmed a position of 4,710 BTC as of January 31, 2026 – a cash commitment that highlights the growing trend of corporate adoption while remaining a fraction of the scale of the strategy.
The structural implication of the strategy’s accumulation rate is simple: with Bitcoin’s current mining issuance of around 450 BTC per day after the halving, a single weekly purchase of $255 million absorbs more than a week’s worth of new supply. When combined with spot ETF inflows, programmatic supply from corporate treasuries removes supply from circulation faster than new coins enter it.
The meal continues. pic.twitter.com/tBDs2z0b4z
-Michael Saylor (@saylor) April 26, 2026
Executive Chairman Michael Saylor posted a preview of the purchase on April 26 via Saylor reached 5 million followers on the platform the same day as the reveal. Critics, including gold advocate Peter Schiff, continue to call the debt-equity financed model of accumulation structurally unsustainable. Strategy’s track record has yet to provide evidence that this argument is gaining traction among its backers.
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Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
