Strategy Inc. (NASDAQ:MSTR) did not purchase any bitcoin during the week ended March 29, breaking a 13-week streak of consecutive acquisitions, according to a Securities and Exchange Commission filing released Monday.
The company, led by co-founder and chairman Michael Saylor, also reported no share sales under its at-the-market offering program during the March 23 to March 29 period. As of March 29, Strategy held approximately 762,099 bitcoin acquired at an aggregate purchase price of $57.69 billion, representing an average purchase price of approximately $75,694 per bitcoin, including fees and expenses.
The pause comes days after Strategy unveiled plans to raise $42 billion through the sale of $21 billion in Class A common stock and $21 billion in perpetual preferred shares via open market offerings. Bitcoin fell 2.4% during the seven-day period ended March 29.
Strategy’s weekly bitcoin acquisition announcements have become a closely watched indicator of sentiment in the digital asset market. The company has built a multi-layered funding structure, issuing debt, preferred stock, and equity to finance its bitcoin purchases. Saylor has rotated between selling common stock and preferred shares based on market conditions and investor appetite.
When Strategy sells common stock to buy bitcoin, existing shareholders’ ownership stake decreases. Preferred share issuances avoid that dilution but create fixed obligations for the company.
