Strategy’s Bitcoin Buying Power Constrained by Weak Shares
Strategy’s ability to make large Bitcoin purchases appears limited after a weak week for its common and preferred stock.
Michael Saylor, Executive Chairman of Strategy (MSTR), confirmed that the company—the largest publicly traded holder of Bitcoin—added to its holdings last week, with BTC trading near $78,844.
Saylor has often signaled Bitcoin purchases with weekend posts featuring orange dots, a cue typically followed by a formal announcement on Monday.
The company’s common stock fell 6% over the week, closing below $150 per share, likely restricting capital raised through at-the-market (ATM) programs and limiting the size of Bitcoin acquisitions.
Strategy’s perpetual preferred stock, Stretch (STRC), also traded below its $100 par value all week, preventing ATM issuance tied to that instrument. The firm recently boosted STRC’s dividend rate to support its price.
Since the start of the year, Strategy has acquired roughly 40,000 BTC, bringing total holdings to around 712,647 BTC.
Bitcoin is currently trading near $78,000.
