No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

[Ben Graham]

Strategy (previously MicroStrategy), the Bitcoin proxy firm co-founded by Bitcoin bull Michael Saylor, has made headlines once again on Monday, but not for its usual Bitcoin acquisitions, but for its notable absence of purchases during the week of June 30 to July 6. 

This marks the first time since late March that the largest corporate holder of BTC has not added to its impressive treasury, which currently stands at 597,325 Bitcoin, valued at approximately $64.71 billion.

Strategy Bitcoin Investment Hits A Pause

The lack of activity in Bitcoin acquisitions is surprising, especially given Strategy’s aggressive purchases over the past few months. These purchases have brought the company close to holding nearly 3% of the cryptocurrency’s total supply.

From April 7 through June 29, the company invested $6.77 billion in acquiring 69,140 BTC, averaging about $97,906 per coin. At current market prices, these investments have appreciated by 10.4%, now worth around $7.49 billion.

In terms of trading, Strategy’s stock (trading on the Nasdaq under the ticker symbol MSTR) saw a slight decline of 0.7% during morning trading hours, which is in line with the 0.8% drop in Bitcoin prices. As of this writing, MSTR closed the day at $395.

This highlights the close relationship between the company’s performance and the volatility of the cryptocurrency market. However, the company’s stock has enjoyed a rise of 38.5% in 2025, outpacing BTC’s 16.1% increase and the S&P 500’s modest gain of 6.1%.

Up To $4.2 Billion For Future BTC Investments

In addition to this pause in BTC purchases, Strategy did not issue any new common or preferred shares during the specified week. However, the company announced a sales agreement to potentially issue and sell up to $4.2 billion in 10% preferred stock. 

According to Monday’s press release on the matter by the Bitcoin proxy firm, the proceeds from this sales agreement are earmarked for general corporate purposes, which include future BTC acquisitions and working capital needs.

The new preferred stock, known as Series A Perpetual Stride Preferred Stock, will be sold in a “disciplined manner,” taking market conditions into account, highlighting the firm’s ongoing commitment to leveraging its financial strategies to enhance its BTC holdings, even as it temporarily steps back from direct purchases.

At the time of writing, BTC is trading at $107,855, marking a 1.5% decline within the last 24 hours, increasing the gap between the current price and its record by 3.5%. This follows a failed attempt last week to overcome the cryptocurrency’s most significant resistance level of $110,000 and establish a new all-time high above its current record of $111,800.

Featured image from DALL-E, chart from TradingView.com