Thomas Daniels
Strategy, the investment vehicle helmed by Michael Saylor and known as the world’s largest public holder of Bitcoin, abstained from acquiring additional BTC last week—marking its second purchase pause this July. The hiatus comes despite heightened market activity, with Bitcoin prices climbing from approximately $118,000 to over $119,000.
According to a filing with the U.S. Securities and Exchange Commission on Monday, Strategy’s total Bitcoin holdings remain static at 607,770 BTC. This signals a notable contraction in acquisition volume. In July, the firm executed only two purchases totaling 10,445 BTC—a 39% drop compared to the 17,075 BTC added in June. Previous months reflected even more aggressive accumulation, with 26,695 BTC purchased in May and 25,370 BTC in April.
The latest pause aligns with Strategy’s decision to significantly upsize its Series A perpetual stretch preferred stock (STRC) offering. On Friday, the company raised the planned issuance from $500 million to $2.521 billion, with shares priced at $90. Settlement is scheduled for Tuesday, contingent on standard closing conditions.
The STRC program mirrors earlier financing structures—such as the Series A strike preferred stock (STRK)—that enable Strategy to gradually issue equity and direct proceeds toward Bitcoin accumulation. On social media platform X, Saylor referred to STRC as one of four pillars in the company’s “Bitcoin defense department,” underscoring its strategic importance in maintaining long-term crypto exposure.
Despite a brief market surge and an 80,000 BTC sale by an early investor last Friday, Strategy opted for restraint—raising questions about its near-term BTC strategy as it pivots toward capital restructuring.
