Strategy Misses Bitcoin Purchases Despite Price Volatility
Michael Saylor’s Strategy, the largest public holder of Bitcoin, made no purchases of BTC last week, even though the cryptocurrency continued to be volatile. According to a U.S. SEC filing published Monday, Strategy’s holdings were unchanged at 607,770 BTC.
As Bitcoin increased from around $118,000 to over $119,000 during the week, Strategy’s market absence coincided with an early investor selling 80,000 BTC, based on CoinGecko data.
It is the second instance this month that Strategy’s Bitcoin purchasing has stopped, as no buys were also recorded during the first week of July.
July Bitcoin Buys Took a Sudden Decline
Strategy purchased a total of 10,445 BTC in July, split into two buys 4,225 BTC on July 14 and 6,220 BTC on July 21. That figure is a 39% decrease from June’s 17,075 BTC haul.
The deceleration is even more pronounced when compared to previous months: 26,695 BTC in May and 25,370 BTC in April. Coincidentally, Strategy also missed a buy during the first week of April, following the same pattern as July.
STRC Offering Raised to $2.5 Billion
Strategy’s muted Bitcoin activity in the last week was concurrent with the company expanding the size of its latest equity program. The firm raised its Series A perpetual stretch preferred stock (STRC) offering to $2.521 billion on Friday – significantly higher than the initial $500 million announcement.
At $90, the STRC sale will settle on Tuesday, pending usual closing conditions.
STRC: A Strategic Raising Instrument
As with previous stock offerings, including the STRK series, STRC is aimed at raising fresh capital for Bitcoin accumulation. Co-founder Michael Saylor described STRC as one of four pillars of Strategy’s “Bitcoin defense department,” noting its strategic role in long-term BTC acquisition.
Despite recent buying pauses, the continued issuance of equity instruments by Strategy suggests that it is still set on accumulating Bitcoin — perhaps just at a slower pace.
