Key Takeaways
- Strategy did not purchase any bitcoin last week, marking its second July pause.
- July's bitcoin acquisitions by Strategy dropped 39% compared to June.
- The pause coincided with an upsized $2.5B equity offering to fund future purchases.
Michael Saylor’s Strategy, the world’s largest public holder of bitcoin, reported no new bitcoin acquisitions last week.
This marks the second week in July without a purchase, as the company’s holdings remain at 607,770 BTC, according to a recent SEC filing.
Decline in July buying activity
Strategy’s bitcoin buying pace has notably slowed in July.
The firm added 4,225 BTC on July 14 and another 6,220 BTC on July 21, totaling 10,445 BTC for the month—a 39% decrease from the 17,075 BTC bought in June.
Previous months saw even higher accumulation, with 26,695 BTC bought in May and 25,370 BTC in April.
For more details on the company’s historical and current holdings, see the MicroStrategy historical bitcoin holdings tracker.
Pause coincides with equity offering
The slowdown comes as Strategy increased its Series A perpetual stretch preferred stock (STRC) offering from $500 million to $2.521 billion.
The STRC, priced at $90, is scheduled to settle on Tuesday. The company has used similar equity-raising strategies in the past to fund additional bitcoin purchases.
Strategy’s approach to treasury management
Co-founder Michael Saylor described the STRC as one of the four pillars of their “Bitcoin defense department,” highlighting the firm’s ongoing commitment to increasing bitcoin reserves through diverse financial instruments.
Market moves despite major sales
Despite Strategy’s pause and a reported 80,000 BTC sale by an early investor, the price of bitcoin climbed from about $118,000 to over $119,000 last week.
