Mstr Stock: Strategy Nears 1 Million Bitcoin Target After $1.58B Preferred Sale and Fresh Buys
mstr stock is at the center of a renewed accumulation push as Strategy continues large weekly bitcoin purchases and disclosed $1. 58 billion in preferred stock ATM sales that funded further BTC buys. The company now holds 738, 731 bitcoin and recent activity has traders and investors watching whether it can reach 1 million BTC by the end of 2026.
Mstr Stock Reaction: Recent Purchases and Preferred Stock Sales
Company disclosures show $1. 58 billion in ATM sales of preferred stock, with those proceeds used to acquire 22, 337 bitcoin. That preferred issuance from Monday to Thursday suggested as much as 11, 000 BTC purchases, not counting common stock issuance that may have funded additional buys. Last week Strategy added 17, 994 bitcoin for $1. 28 billion at an average price of $70, 946, marking the 102nd bitcoin purchase and the 11th consecutive week of accumulation.
mstr stock’s recent disclosures and purchase cadence underline a concerted capital-raise-to-buy cycle that has included both preferred and common stock issuances tied directly to bitcoin purchases.
Path to 1 Million Bitcoin: Pace, Cost and What It Would Take
Strategy currently holds 738, 731 BTC, leaving a gap of 261, 269 BTC to reach a 1 million-BTC milestone. With roughly 297 days — about 42 weeks — remaining in 2026, that implies an average purchase pace of about 6, 158 BTC per week to hit the target by year-end. Using an assumed average bitcoin price of $85, 000, the company would need to deploy roughly $523 million per week, or about $22. 2 billion in total, to close the gap within the same timeframe.
Longer-term activity provides context for that pace. Since launching its bitcoin treasury strategy in August 2020, Strategy has purchased an average of about 10, 700 BTC per month, equivalent to roughly 128, 000 BTC per year. So far in 2026 the company has acquired about 64, 948 BTC, placing it ahead of its historical annual accumulation rate and making the end‑of‑year million‑BTC scenario more plausible if weekly purchases remain elevated.
Balance Sheet, Market Valuation and Chairman’s Comments
Strategy’s bitcoin holdings are valued at $52. 65 billion while the company’s market valuation stands at $47 billion, leaving the stock trading at a discount to its bitcoin net asset value. The company also carries unrealized losses on its BTC position totaling $3. 35 billion. An SEC filing notes the use of ATM proceeds to fund bitcoin purchases, including the 22, 337 BTC acquired with recent ATM sales.
Executive Chairman Michael Saylor has commented on the timing between purchases and price performance, saying there is a delay between when the company buys bitcoin and when price moves follow. He has defended the company’s model and has stated that a modest, sustained rise in bitcoin could support the firm’s dividend framework over time.
Company disclosures indicate this week’s acquisitions are likely to be disclosed on Monday, and recent preferred and common stock issuances remain a primary funding mechanism for continued accumulation. How quickly Strategy can sustain the elevated weekly buy pace will determine whether the company reaches the 1 million BTC milestone within the stated timeframe.
