Strategy (MSTR) Pauses Bitcoin Buys Ahead of Earnings, Stock Jumps Over 10% in 2 Days

Bitcoin Magazine

Strategy (MSTR) Pauses Bitcoin Buys Ahead of Earnings, Stock Jumps Over 10% in 2 Days

Strategy halted its bitcoin buying streak days before earnings, a pause that underscores how much the company now revolves around capital markets rather than software.

Chairman Michael Saylor said Sunday the firm would skip purchases this week and resume next week, marking only the second break this year in what has become a steady accumulation program.

The timing places the decision ahead of Tuesday’s first-quarter report, where analysts expect revenue growth alongside another loss tied to bitcoin accounting and financing costs. Estimates point to revenue near $125 million, up from $111.1 million a year earlier, with a projected per-share loss that varies widely across forecasts.

Strategy holds about 818,334 bitcoin, or close to 3.9% of total supply, reinforcing its position as the largest public bitcoin treasury. Its most recent buy added 3,273 BTC at an average price near $77,900. 

Bitcoin traded around $80,000 in early Monday hours, extending a rebound that has lifted sentiment across crypto markets. 

Because of this price jump, Strategy’s stock was up 3% in early market trading. Over the last two days, MSTR is up over 10%. 

The bitcoin purchase pause itself may reflect standard pre-earnings caution, yet it lands as investors focus less on operating performance and more on the structure funding Strategy’s accumulation.

The company has shifted from a software firm with a bitcoin position into a financing vehicle built to convert market demand into bitcoin exposure. That model relies on continuous access to capital through common stock issuance and preferred shares, including its high-yield STRC instrument.

STRC is Strategy’s new bitcoin driver

STRC, which targets a $100 trading level while offering a variable dividend near 11.5% annualized, has drawn scrutiny from analysts who see asymmetry in its design. Holders receive income tied to Strategy’s balance sheet, yet remain exposed to downside if bitcoin prices fall or if demand for the shares weakens.

The stock pop also comes on the heels of fresh enthusiasm generated by Saylor’s keynote at the Bitcoin 2026 conference in Las Vegas last week.

Rather than focusing on Bitcoin price targets or more Bitcoin purchases, Saylor’s pitch centered on STRC — Strategy’s Bitcoin-backed preferred stock — and a sweeping thesis that digital credit is poised to cannibalize trillions of dollars in the legacy credit market.

“The world’s $300 trillion credit market is a much bigger opportunity than the world’s roughly $2 trillion Bitcoin market, and Strategy has built the first product to bridge the two,” Saylor argued during the keynote.

STRC, which pays an 11.5% monthly variable dividend and trades on Nasdaq, has grown to approximately $8.5 billion in notional value in under nine months — larger, Saylor claimed, than the entire existing universe of monthly-paying preferred securities combined. 

“This is going viral,” he told the audience.

BlackRock’s iShares Preferred & Income Securities ETF has already taken a roughly $210 million position in STRC.

Saylor said STRC has financed the acquisition of approximately 77,000 BTC year-to-date in 2026, roughly ten times the net inflow of all U.S. spot Bitcoin ETFs combined over the same period. 

Recent buying patterns show how quickly Strategy can scale. Ahead of April’s dividend cycle, Strategy deployed more than $3 billion into bitcoin, with purchases concentrated into a handful of sessions exceeding $400 million each.

This post Strategy (MSTR) Pauses Bitcoin Buys Ahead of Earnings, Stock Jumps Over 10% in 2 Days first appeared on Bitcoin Magazine and is written by Micah Zimmerman.