Strategy Pauses Weekly Bitcoin Buys, Holds 762,099 BTC

TLDR

• Strategy paused its weekly bitcoin purchases between March 23 and March 29, according to an SEC filing.
• The company confirmed it did not sell shares or buy bitcoin during the reported week.
• Strategy continues to hold 762,099 BTC valued at about $51.6 billion.
• The firm acquired its bitcoin at an average price of $75,694 per coin.
• The holdings represent more than 3.6% of bitcoin’s total 21 million supply.

Michael Saylor’s Strategy halted its weekly bitcoin purchases between March 23 and March 29, according to a new SEC filing. The company confirmed it made no acquisitions during that period and sold no shares under its at-the-market programs. However, Strategy continues to hold 762,099 BTC valued at about $51.6 billion.

Strategy Halts Weekly Bitcoin Purchases but Keeps 762,099 BTC Reserve

Strategy disclosed the pause in an 8-K filing submitted to the Securities and Exchange Commission on Monday. The company stated that it “did not sell any shares under its at-the-market offering program and did not purchase any bitcoin” last week. This marks the first break in weekly buying activity in over a year.

The firm still holds 762,099 BTC, which it acquired at an average price of $75,694 per bitcoin. It spent about $57.7 billion in total, including fees and expenses. At current prices, the holdings show roughly $6.1 billion in unrealized losses.

Those reserves represent more than 3.6% of bitcoin’s 21 million supply. Therefore, Strategy remains the largest public holder of the asset. Bitcoin declined about 2.9% during the same week. Strategy’s stock also fell 9.6% over the period. It dropped 5.2% on Friday and closed at $126.03.

Capital Programs Expand as Strategy Maintains Acquisition Framework

Strategy usually funds its bitcoin purchases through at-the-market sales of its Class A stock, MSTR. It also uses proceeds from its perpetual preferred stock offerings. However, the company paused both share sales and bitcoin acquisitions last week.

The firm operates several preferred stock ATM programs. These include STRK at $21 billion, STRC at $4.2 billion, STRF at $2.1 billion, and STRD at $4.2 billion. These programs support its long-term bitcoin acquisition plan.

Strategy also runs its “42/42” plan targeting $84 billion in total capital raises through 2027. Last week, it expanded its ATM programs to add up to $21 billion of MSTR. It also added $21 billion of STRC and $2.1 billion of STRK capacity.

Ivan Wu, research analyst at The Block, addressed the dividend structure tied to these programs. He wrote, “If fully utilized, the $21 billion STRC program would add roughly $2.4 billion in annual dividend obligations.” He added that combined payouts could exceed current reserves within eight months.

Bernstein analysts issued an outperform rating on MSTR common stock. They set a $450 price target and projected 226% upside.

Bitcoin Treasuries data shows 195 public companies now hold bitcoin. Strategy’s mNAV currently stands at approximately 0.91, according to the same data provider.

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