MicroStrategy Buys the Dip Again: Why 4,871 BTC Purchase Speaks Loudest Yet

MicroStrategy acquired 4,871 Bitcoin (BTC) for approximately $329.9 million at an average price of $67,718, buying aggressively below its own cost basis while nearly every other corporate buyer has gone silent.

The purchase lifts Strategy’s total holdings to 766,970 BTC. The firm has now spent roughly $58.02 billion to accumulate Bitcoin, at an average of $75,644 per coin.

MicroStrategy Is Buying When Nobody Else Will

The headline number is modest by Strategy’s own standards. Earlier in 2026, the company made its largest single purchase of the year, 22,337 BTC for $1.57 billion.

Yet the context around the latest purchase tells a different story.

Over the past 30 days, Strategy purchased roughly 45,000 BTC. Every other publicly traded treasury company combined added just 1,000 BTC in the same period.

Bitcoin Treasury Companies 30-Day BTC Purchases. Source: CryptoQuant

Non-Strategy corporate purchases have dropped 99% from their August 2025 peak, when the wider cohort bought 69,000 BTC in a single month.

MicroStrategy now holds approximately 76% of all Bitcoin on publicly traded corporate balance sheets. The company added around 90,000 BTC year-to-date, while all other treasury firms combined contributed a net 4,000 BTC.

That concentration makes each new Strategy filing less about volume and more about conviction.

The firm is stacking at prices well below its blended average, effectively pulling down its cost basis while competitors sit on the sidelines.

MicroStrategy BTC Holdings. Source: Bitcoin Treasuries

The $67,718 average purchase price matters more than the quantity. It sits almost $8,000 below Strategy’s all-in average of $75,648, meaning every coin added at this level improves the firm’s overall position.

What Makes This the Loudest Signal

MicroStrategy’s market-cap-to-net-asset-value ratio sits around 0.85, meaning its equity trades below the value of its Bitcoin holdings.

That dynamic raises questions about whether continued share issuance dilutes existing shareholders. However, Saylor and his team are betting that consistent below-average buying will vindicate the approach over time.

Meanwhile, the gap between Strategy and BlackRock’s iShares Bitcoin Trust (IBIT) has narrowed to roughly 15,000 BTC.

IBIT held approximately 782,475 BTC as of this writing, up only about 8,484 BTC year-to-date, compared to Strategy’s 90,000 BTC surge.

Strive Follows the MicroStrategy Playbook

Strategy is not entirely alone. Strive Inc. (Nasdaq: ASST), the Bitcoin treasury firm founded by Vivek Ramaswamy, separately announced the purchase of 113 BTC for $7.75 million at an average cost of roughly $68,577 per coin. That brings Strive’s total holdings to 13,741 BTC as of April 2.

The scale differs dramatically, but the signal rhymes. Strive also bought below its historical average and continues to add while most corporate buyers have paused.

In March, the firm purchased $50 million of Strategy’s STRC preferred stock, an investment that ties its returns partly to Strategy’s own Bitcoin accumulation strategy.

“We believe Digital Credit could be a multi-trillion-dollar opportunity, and every single update today aims to improve the credit quality and lower the expected volatility profile of our Digital Credit product, SATA,” read an excerpt in the announcement, citing Cole.

Strive accumulated most of its Bitcoin through private placement proceeds and its acquisition of Semler Scientific, which contributed 5,048 BTC.

The firm reported a 22.2% “Bitcoin Yield” in Q4 2025, a proprietary metric tracking the percentage change in Bitcoin per share.