Michael Saylor’s Strategy’s Bitcoin Purchase Pause Extends to Five Weeks As BTC Tracks Sideways
The Bitcoin treasury firm Strategy (MSTR) has extended its pause on BTC purchases to five weeks. The company announced on Monday that it had increased its US dollar reserves by $525 million over the past week, though it refrained from buying any new Bitcoin. This marks the third consecutive week without any Bitcoin transactions, following a two-week period in which the firm sold a total of 3,588 BTC for $216 million. Those sales were part of Strategy’s newly introduced BTC monetization program, designed to bolster cash reserves and support dividend payments.
As of the latest update, Strategy holds 843,775 Bitcoin, valued at approximately $54.75 billion, along with $3.75 billion in cash reserves. Chairman Michael Saylor noted that the company also repurchased 288,930 shares of its perpetual preferred stock (STRC) for $25 million at an average price of $86.52 per share. STRC, which pays 12.00% annual dividends, is trading at $88.32, up 1.65% on Monday.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC. The firm’s Class A common stock, MSTR, is down more than 35% year-to-date but rose over 7.6% on Monday.