Strategy added 3,273 bitcoin (BTC), lifting its total holdings to 818,334 BTC, and economist and bitcoin skeptic Peter Schiff criticised the move.

On April 27 local time, The Crypto Basic, a blockchain outlet, reported that the purchase put Strategy's average bitcoin purchase price at $75,537 and total spending at $61.81 billion.

Strategy Chairman Michael Saylor (마이클 세일러) said on X, formerly Twitter, that the company spent about $255 million to buy bitcoin at an average price of $77,906 per coin. Saylor also said bitcoin has posted a 9.6 percent yield so far this year. As of April 26, the company's bitcoin holdings total 818,334 BTC.

With bitcoin trading around $77,850, the market value of Strategy's holdings rose to about $63.7 billion. The company has thus moved into an unrealised profit range of about $1.9 billion. It had remained in a book-loss position earlier this year when bitcoin stayed below $70,000, but a recent rebound has returned it to profit.

Funding for the purchase was raised through an equity sale program. In an 8-K filing submitted to the U.S. Securities and Exchange Commission, Strategy said it sold 1,451,601 shares of its MSTR common stock from April 20 to April 26 and secured $255 million after fees. It did not sell its preferred stock series during the same period.

Market attention has shifted from the additional purchase itself to Saylor's long-term outlook and the rebuttal to it. Schiff criticised Saylor's 2025 projection that "if Strategy secures 5 percent of bitcoin's total supply, bitcoin will reach $1 million per coin."

Schiff noted that Strategy currently holds 3.9 percent of total supply. He argued that after Saylor made the projection, the company bought an additional 231,666 BTC, but even if it buys the same amount again, bitcoin could instead fall below $60,000 by the time it reaches 5 percent if the price moves in the same way as before.

Schiff's criticism also extended to the funding structure. He opposed the claim that Strategy only needs bitcoin to rise 2 percent a year to cover STRC's 11.5 percent yield, and said Saylor is continuing to expand issuance. The more STRC is sold, the more bitcoin must rise to cover that yield, and if STRC's price falls, the yield the company must offer could rise further, he argued.

Schiff also argued that if Strategy sells bitcoin to fund dividends, the bitcoin price would fall, which could lead to what he called a "death spiral." He said Strategy would have to suspend dividends to stop that dynamic, but in that case STRC and MSTR could fall together and bitcoin could also weaken.

Strategy has re-entered an unrealised profit range after the latest purchase, but the profit is still not large. Because bitcoin is not trading far above the company's average purchase price, the market is expected to watch the pace of additional buying, funding methods and how bitcoin's price trend affects the company's financial structure.

In 2025, you predicted that Bitcoin would hit $1 million per coin if $MSTR accumulated 5% of the supply. MSTR now owns 3.9%. If buying the next 231,666 BTC has the same impact on Bitcoin's price as buying the last 231,666, Bitcoin will be below $60,000 when MSTR finally hits 5%.