Strategy, formerly MicroStrategy, embarked on its grand Bitcoin adventure back in 2020, fueled by the boundless enthusiasm of then-CEO Michael Saylor. What started as a cautious nibble quickly turned into a full-blown buffet, and now the company proudly owns the crown of the world’s largest public Bitcoin hoarder. Tens of billions later, you’d think they’d be lounging on a beach somewhere-but no, the market had other plans.
Billions Down, Spirits Somehow Still Up
Strategy’s latest Form 8-K for Q1 2026 revealed a number so large it could make your head spin: over $14 billion in Bitcoin losses in just three months. Apparently, watching your digital fortune vanish in real time is the new extreme sport.
Yet, undeterred by the cold slap of reality, Strategy kept buying. Twelve purchases in one quarter, including a modest $40 million dip of the toes. By the end of Q1, they had thrown over $7 billion at Bitcoin, adding another 89,000 coins to their already cavernous vault. Total Bitcoin spending over the years? $57 billion. And yes, they’re still counting.
In early April, they doubled down with a purchase of 4,871 BTC at an average price of $67,718-another $329.9 million to the pile, pushing the grand total to $58.02 billion. Some people collect stamps. Strategy collects financial heart palpitations.
Bitcoin has since perked up a bit, but our heroes remain underwater. At a cost basis of $75,644 per coin, anything below that keeps the company in that familiar state of financial limbo we like to call “deep in it.”
The stock price mirrors the BTC rollercoaster, plummeting to $163 from its 2025 high of over $400. And Saylor? He’s undeterred. Selling Bitcoin is apparently not in the vocabulary. Accumulating more is the plan, presumably while humming a jaunty tune of optimism and denial.
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2026-04-09 13:28