MicroStrategy, the business intelligence firm turned Bitcoin treasury giant, has reported an unprecedented $1.3 billion in unrealized gains on its Bitcoin holdings over a two-week period in early April 2026. This marks the most profitable fortnight in the company's history, driven by Bitcoin's price successfully reclaiming the $76,000 level.
Executive Chairman Michael Saylor revealed that the company's total BTC holdings now stand at 780,897 BTC, with a market value of approximately $58.1 billion as of April 15. The firm's average purchase price is about $39,450 per token, meaning nearly 48% of its total Bitcoin position is now "pure profit." This performance has propelled the total valuation of the firm's treasury past the $21 billion mark.
The gains are attributed to Saylor's aggressive "Infinite Loop" strategy, which involves raising low-interest capital to buy Bitcoin. In early April, MicroStrategy completed a $700 million private offering of 0.75% convertible senior notes, using the proceeds to acquire an additional 9,200 BTC at an average price of $73,150. The subsequent price breakout toward $77,000 turned this tranche profitable.
MicroStrategy measures its performance through a proprietary "Bitcoin Gain" or "BTC Yield" metric, which tracks the increase in Bitcoin per share from using funds raised via stock issuance, convertible bonds, and preferred shares. Saylor stated this metric, while not a traditional accounting profit, is the closest indicator of value created for shareholders under the "Bitcoin standard."
The financial success has boosted the company's stock (MSTR), which surged 12% in early trading to a new 2026 high, and has bolstered its profile for potential inclusion in the S&P 500 index by improving its "retained earnings"—a key eligibility requirement.
