MicroStrategy, the publicly traded business intelligence company led by Bitcoin advocate Michael Saylor, is poised to resume its aggressive Bitcoin acquisition strategy. On April 5, 2026, Saylor posted "Back to Work" on X, a signal the market has historically interpreted as an imminent Bitcoin purchase announcement. This follows a confirmed one-week pause in the company's relentless buying campaign.
The pause was detailed in a Form 8-K filing with the SEC for the week ending March 29, which stated MicroStrategy "did not sell any shares under its at-the-market offering program and did not purchase any bitcoin." This break ended a streak of weekly purchases throughout 2026. The company's last recorded buy was on March 23, acquiring approximately $77 million worth of Bitcoin at a price of $74,326 per coin.
Estimates suggest the company is preparing to purchase at least 1,821 BTC, valued at roughly $125 million at current prices, using funds raised through its perpetual preferred stock, STRC. According to data from STRC.LIVE, proceeds from the week ending April 3 support this level of purchase. Furthermore, in late March, MicroStrategy announced ambitious plans to raise $44.1 billion—primarily through sales of MSTR common stock and STRC—to fund its ongoing Bitcoin accumulation.
The company's Bitcoin holdings are substantial but currently underwater. MicroStrategy holds 762,099 BTC at an average cost of approximately $75,694 per coin. With Bitcoin trading around $69,100, the total reserve, valued at about $50.9 billion, is in the red. The company's market capitalization is near $41.4 billion, with an enterprise value of roughly $57.3 billion.
MicroStrategy's stock (MSTR) is trading around $318, down approximately 20% year-to-date, mirroring broader Bitcoin weakness. Bitcoin itself is up 1.2% over the past 30 days but remains down 20.9% for the year, pressured by macroeconomic factors and geopolitical uncertainty. A formal purchase announcement is anticipated on Monday, April 7, aligning with the company's typical SEC disclosure schedule.
