.png){kind=logo}
Strategy paused its regular weekly bitcoin purchases between March 23 and March 29, according to a Monday 8-K filing with the US Securities and Exchange Commission. The move ended a streak that had lasted for just over a year.
During the week, the company sold no shares under its at-the-market programs and bought no bitcoin. Even so, Strategy still held 762,099 BTC, worth about $51.6 billion. Will this pause prove temporary as the company expands its fundraising plans?
Strategy said it bought 762,099 BTC for about $57.7 billion, including fees and expenses. That places its average purchase price at $75,694 per bitcoin. Based on the figures in the filing, the position carried roughly $6.1 billion in unrealized losses.
The company’s holdings represent more than 3.6% of bitcoin’s fixed 21 million supply. That scale keeps Strategy far ahead of other public companies that use Bitcoin treasury models. Even with no weekly purchase, the firm remains the largest corporate bitcoin holder.
Usually, Strategy funds bitcoin purchases through at-the-market sales of its Class A MSTR stock, and its perpetual preferred shares. This time, the company used neither route. In turn, the filing marked a clear break from its recent buying pattern.
Strategy’s STRK, STRC, STRF, and STRD perpetual preferred stock programs total $21 billion, $4.2 billion, $2.1 billion, and $4.2 billion, respectively. Those programs sit alongside the company’s “42/42” plan. That plan targets $84 billion in capital through 2027 for bitcoin acquisitions.
Last week, Strategy widened those fundraising channels. It added up to $21 billion of MSTR, $21 billion of STRC preferred stock, and $2.1 billion of STRK preferred stock. As a result, the company expanded the capital it could direct toward future bitcoin buys.
Still, the added financing could raise pressure on payouts. The Block research analyst Ivan Wu said a fully used $21 billion STRC program could add about $2.4 billion in annual dividend obligations. Combined with roughly $1 billion in existing payouts, current cash reserves would cover only around eight months of dividends.
On Tuesday, analysts at Bernstein kept an outperform rating on MSTR and set a $450 price target. They said the stock could rise 226%. Their note pointed to Strategy’s resilience during bitcoin’s roughly 50% drawdown from its October 2025 peak.
At the same time, Bitcoin Treasuries data showed that 195 public companies now use some form of bitcoin acquisition model. Behind Strategy, the text listed Twenty One with 43,514 BTC, MARA with 38,689 BTC, and Metaplanet with 35,102 BTC. Adam Back, Bullish, Riot Platforms, Coinbase, Hut 8, and Strive also ranked among the top holders.
Also Read: Bitcoin News Today: BTC Slides to $65K as War Fears Shake Markets
Even so, many of those stocks have fallen sharply from their summer 2025 highs as market cap-to-net asset value ratios contracted. Strategy itself was down about 72%, while its mNAV stood near 0.91, according to Bitcoin Treasuries. Separately, the text said MSTR fell 9.6% last week, while bitcoin dropped about 2.9% over the same period.
Strategy paused its weekly Bitcoin acquisitions for the first time in over a year, yet it still held 762,099 BTC. The SEC filing also showed no MSTR share sales during the period, even as the firm expanded future capital programs tied to more bitcoin purchases.
