Strategy has halted Bitcoin purchases for the week ahead of its first-quarter earnings release and rising scrutiny around its preferred stock dividend.
Summary
- Strategy has paused Bitcoin purchases for the week ahead of its first quarter earnings report, with Michael Saylor confirming no buys in a Sunday update.
- The company last acquired 3,273 BTC for $255 million, taking total holdings to 818,334 BTC valued at roughly $63.7 billion.
- Analysts expect a $18.98 per share loss, while criticism has intensified around STRC’s 11.5% dividend and its long-term sustainability.
According to a Sunday post on X by Michael Saylor, the company signaled “No buys this week,” breaking a pattern where he regularly flags upcoming accumulation.
The decision follows a recent stretch of steady buying. A Form 8-K filing with the U.S. Securities and Exchange Commission shows Strategy acquired 3,273 Bitcoin for about $255 million between April 20 and 26, funded through the sale of 1,451,601 MSTR Class A shares under its at-the-market equity program. Yahoo Finance reported the purchase price averaged $77,906 per coin.
Holdings have reached 818,334 BTC, which Saylor said were acquired for roughly $61.81 billion at an average of $75,537 per bitcoin. At current prices near $78,000, filings and market data place the position’s value at about $63.7 billion, implying an unrealised gain of roughly $1.9 billion.
As reported by crypto.news, Strategy added more than 34,000 BTC for $2.54 billion in a single week last month, which marked one of its largest purchases on record. Across April, four acquisitions totalled well over $3 billion, with earlier deals funded through a mix of MSTR stock sales and issuances of STRC, its perpetual preferred security.
Attention has turned to Strategy’s upcoming earnings report, where analysts expect pressure from accounting treatment tied to Bitcoin. Yahoo Finance data shows Wall Street forecasts a loss of $18.98 per share for the quarter, compared with a $16.49 loss a year earlier, largely due to mark-to-market adjustments on its holdings.
At the same time, scrutiny has intensified around STRC, which offers an 11.5% dividend yield. Peter Schiff repeated his criticism of the structure on Sunday, arguing in a post on X that relying on Bitcoin appreciation above that yield does not resolve what he described as a “ponzi like structure.”
Concerns over sustainability have also been raised by Joseph Parrish, who wrote on April 28 that current cash reserves may not cover two years of STRC dividend payments. Parrish warned that continued stock issuance could become necessary, increasing risk if Bitcoin fails to outperform expectations.
Despite the concerns, data from TipRanks shows a consensus “Strong Buy” rating on Strategy’s Nasdaq-listed shares, even as some investors weigh leverage, payout obligations, and dependence on equity funding.
Strategy still has $26.47 billion in MSTR shares available under its existing issuance program, according to its latest filing, leaving room to continue funding Bitcoin purchases without securing new capital sources.
