MSTR Stock Gains After Michael Saylor’s Strategy Extends Bitcoin Buying Pause To Two Weeks, While Raising Another $263.5M

The company has now gone four consecutive weeks without increasing its Bitcoin position, including two weeks of sales followed by two weeks without purchases.

• Strategy did not purchase any Bitcoin for a second consecutive week, leaving its holdings unchanged at 843,775 BTC.
• The firm raised approximately $263.5 million through its at-the-market stock program, following a prior $466.7 million raise the previous week.
• Strategy's USD Reserve increased to $3.225 billion, providing additional liquidity for future capital allocation decisions.

Shares of Michael Saylor-backed Strategy (MSTR) gained in pre-market trading on Monday after the company disclosed it did not purchase any Bitcoin (BTC) for a second consecutive week, extending a pause that now spans two weeks.

According to the firm’s 8K filing with the Securities and Exchange Commission (SEC), Strategy made zero Bitcoin purchases over the past week, leaving its total holdings unchanged at 843,775 BTC. The two-week pause alongside selling Bitcoin in the prior two weeks marks Strategy's longest confirmed stretch without adding to its Bitcoin stack in the last two years. 

MSTR’s stock gained as much as 1.2% in pre-market trade. On Stocktwits, retail sentiment around the company trended in ‘bearish’ territory over the past day. 

Two Weeks Of Silence On Bitcoin

Rather than buy or sell Bitcoin, Strategy leaned entirely on its at-the-market (ATM) common stock program to raise cash. The company sold over 2.7 million shares of Class A common stock, generating $263.5 million in net proceeds. 

This comes after the company last week said it sold 4.82 million shares of MSTR Class A common stock under its ATM offering program, generating $466.7 million in net proceeds. 

None of Strategy's four preferred stock lines, STRF, STRC, STRK, or STRD, saw any sales activity during the week. MSTR also didn't repurchase any shares under its buyback programs during the period, a move that retail traders are waiting on. 

Some retail traders on Stocktwits stated that they would have preferred it if MSTR had bought Bitcoin, rather than raise cash from ATM sales.

Strategy's USD Reserve, the cash buffer used to cover preferred stock dividends and debt interest, climbed to $3.225 billion, up from $3.0 billion the prior week. 

MSTR’s stock has fallen over 30% this year and nearly 80% in the last 12 months. Meanwhile, Bitcoin’s price is down 26% this year and has fallen around 45% in the last 12 months. 

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