Strategy has a large amount of cryptocurrency, but its founder does not seem to be rethinking his decision. Bitcoin is currently trading at $69,000.
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Saylor’s Orange Dot Returns
Michael Saylor shared what his followers immediately recognized: an orange dot graph that signals a new round of Bitcoin purchases by the company.
The post, shared on X over the weekend, came with a simple caption — “back to work” — after Strategy sat out the previous week without making a single purchase.
On Monday, the company will release its weekly financial disclosure and confirm exactly how much it has acquired.
Strategy, which was rebranded as MicroStrategy in 2010, now has 762,099 shares. Bitcoin. At the current price, these coins are only worth about $51 billion. The company spent an average $75,699 for each coin. This means that the current market value leaves them about 11% below their original investment.
₿ack to Work. pic.twitter.com/mbZTWiNUct
— Michael Saylor (@saylor) April 5, 2026
Bitcoin Bet with Dilution: A Shadowy Risk
Keep buying Strategy relies on selling shares — both common stock and preferred shares — to raise cash. According to reports, the company has millions of dollars worth of at-the money shares available.
STRC (a preferred shares program) recently collected enough money for the purchase of more than 1 800 Bitcoins.
It is becoming harder to ignore the numbers. Strategy’s Net Asset Value Premium has fallen below 1. This means that the market does not value the stock over the Bitcoins it holds.
The case to buy the Bitcoins directly instead of the stocks becomes less compelling when the premium is gone. Share sales continue to erode existing investors by increasing the number of available shares.
If Bitcoin were to climb back to its record high of $126,300, the company’s current stash would be worth more than $96 billion — a number that makes the dilution argument easier to stomach for believers in the trade.
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Stock Charts Flash Warning Signs
Technical picture of MSTR Most standard measures are bleak. Stocks traded for $120 last week, down significantly from their all-time peak of $542. It has broken below a key support level at $2320 — a floor it held as recently as March of last year.
On the chart, a death cross is formed when the moving average of 50 days crosses below the moving average 200 days. Since August, the stock’s Supertrend indicator has been below it. This pattern indicates a downward trend in conventional technical analysis.
Chart by TradingView. Image from Pexels.
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Source: www.newsbtc.com
