Saylor breaks his 13-week streak of Bitcoin purchases, shifting focus to aggressively promote preferred shares STRC.
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Saylor breaks his 13-week streak of Bitcoin purchases, shifting focus to aggressively promote preferred shares STRC.
Bought 90,000 BTC over 13 weeks; volume dropped significantly in the final week.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), did not issue his customary “Orange Dot” Bitcoin purchase signal this Sunday. Instead, he fully pivoted to promoting the company’s perpetual preferred stock STRC—potentially interrupting the 13-week streak of weekly Bitcoin acquisitions that began at the end of December last year. During this buying spree, Strategy acquired approximately 90,831 BTC. The company currently holds 762,099 BTC, with an average acquisition cost of roughly $75,694 per coin; Bitcoin’s current market price stands at approximately $66,389, resulting in a substantial unrealized loss. Monday’s Form 8-K filing will confirm whether purchases have indeed been paused.
This may mark Strategy’s first break in its weekly Bitcoin accumulation rhythm since late December last year.
According to a BeInCrypto report dated March 29, Saylor did not post his signature “Orange Dot” purchase tracking chart on X this Sunday. Instead, he shifted all attention to the company’s perpetual preferred stock, Stretch (ticker: STRC). Over the past 13 weeks, this Sunday chart had served as a reliable indicator for traders anticipating Strategy’s next Bitcoin purchase: the chart would appear Sunday, followed by an 8-K filing early Monday confirming the purchase details.
This silence breaks what has been an exceptionally aggressive accumulation cycle.
13 Weeks, 90,000 BTC Bought—Final Week Saw Sharp Contraction
During this uninterrupted buying cycle launched at the end of December last year, Strategy acquired approximately 90,831 BTC. According to the company’s official dashboard, as of March 22, Strategy held 762,099 BTC, with a total acquisition cost of roughly $57.69 billion and an average purchase price of about $75,694 per coin.
However, buying intensity noticeably waned in the final weeks. According to CoinDesk, during the week of March 16–22, Strategy purchased only 1,031 BTC for $76.6 million, at an average price of ~$74,326—fully funded via at-the-market (ATM) offerings of common stock. In contrast, the prior two weeks saw purchases of 17,994 BTC (~$1.28 billion) and 22,337 BTC (~$1.57 billion), respectively—the latter representing Strategy’s largest single-week acquisition since 2026.
From multi-billion-dollar aggressive accumulation down to a “drizzle” of $76 million—and now possibly a full pause—the contraction trajectory is unmistakable.
Saylor Shifts Spotlight to STRC Amid $4.2 Billion ATM Program Launch
This Sunday, Saylor posted on X stating that STRC’s volatility over the past 30 days has been lower than that of all S&P 500 constituents and all major asset classes—and that it offers an 11.5% annualized dividend yield. In another post, he argued that maintaining STRC’s dividend requires only ~2.13% annualized Bitcoin returns—a figure far below Bitcoin’s historical performance.
This “sales push” is no coincidence. On March 23, Strategy announced a new $4.2 billion ATM issuance program: $2.1 billion allocated to MSTR common stock, $2.1 billion to STRC preferred shares, and an additional $210 million to STRK preferred shares.
STRC is Strategy’s perpetual preferred stock, launched in July 2025, with a par value of $100, monthly dividend payments, and a coupon rate adjustable monthly by ±0.25 percentage points. Its current annualized dividend yield has risen to 11.5%, marking the seventh consecutive month of increases. CEO Phong Le stated in February that the company is shifting away from reliance on common stock issuances toward using preferred stock as its primary funding vehicle for Bitcoin purchases.
Per Yahoo Finance data cited in reports, approximately 80% of STRC holders are retail crypto investors—not institutional investors. In March 2026, Strategy raised roughly $1.2 billion via STRC ATM sales to buy Bitcoin—the first time preferred stock surpassed common stock as Strategy’s dominant funding source. Yet this also means STRC’s fundraising capacity is directly tied to retail investors’ confidence in Bitcoin.
Bitcoin Dips to $66,000 Range—Strategy Faces Deep Unrealized Losses
The silence arrives amid Bitcoin’s broader slump. As of press time, Bitcoin trades near $67,000—down ~47% from its all-time high of ~$126,000 in October 2025. MSTR’s share price has declined ~76–77% from its November 2024 peak.
With 762,099 BTC held at an average cost of $75,694, Strategy’s total Bitcoin acquisition cost stands at ~$57.69 billion. At the current price, the portfolio’s market value is ~$50.5 billion—representing an unrealized loss exceeding $7 billion.
In a broader context, corporate Bitcoin accumulation has become highly concentrated in Strategy alone. Per CryptoQuant’s latest report, Strategy purchased ~45,000 BTC over the past 30 days, while all other corporate treasuries combined bought only ~1,000 BTC. Strategy now holds ~76% of all Bitcoin held in corporate treasuries—down from a peak of 95% for other corporations, whose collective share has collapsed to just 2%. A trend once marketed as “broadening institutional Bitcoin ownership” has effectively evolved into a single-company concentration risk.
Monday’s 8-K Filing Will Provide Clarity
The absence of Sunday’s post does not necessarily mean purchases have halted. Strategy has previously deviated from its signaling pattern, and the company could quietly confirm new purchases in Monday’s 8-K filing. Moreover, Strategy briefly paused purchases in early July and early October 2025—both instances were temporary adjustments.
Yet if Monday’s filing confirms no new holdings, this will mark the first formal interruption since last December—and may signal a strategic inflection point for Strategy: a shift from relentless, all-out accumulation toward stabilizing STRC as its new core financing engine.
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