Basri Caneri 
Michael Saylor’s MicroStrategy (now Strategy), known for its large investments in Bitcoin, announced that it did not buy any Bitcoin or sell any shares last week. This development is noteworthy as it comes after the company has bought Bitcoin in 13 of the last 14 weeks.
Decision to Stop Buying Bitcoin and Selling Shares
Strategy said in a statement that it did not sell any Class A shares under its “at-the-market” (ATM) share sales program and did not purchase new BTC. The company had last purchased 7,633 BTC for $742 million last week.
This was MicroStrategy’s first Bitcoin purchase after rebranding to “Strategy” and was the 13th purchase in the last 14 weeks.
However, it is also notable that the company did not sell any shares last week. Strategy usually uses the proceeds from share sales for BTC purchases. In January, STRK announced that it had raised $563 million through the sale of preferred stock and that the proceeds would be used to purchase Bitcoin.
The company’s current Bitcoin holdings:
- Total BTC: 478,740
- Total money spent: $31.1 billion
- Average BTC purchase price: $65,033
Strategy continues to hold the title of public company with the most Bitcoin.
MicroStrategy Shares in Decline
According to Nasdaq data, MSTR stock fell after news that the company did not purchase any new BTC and did not sell any shares. The share price is currently trading at $336. However, since the beginning of the year, the shares have risen by more than 16%.
On the other hand, JP Morgan’s recent purchase of $100 million worth of MSTR shares is seen as a positive sign for the company’s long-term outlook.
Crypto analyst Ali Martinez stated that MSTR is preparing to exit the consolidation triangle and its price has the potential for a 52% move.
Is MicroStrategy’s Strategy Changing?
MicroStrategy’s suspension of Bitcoin purchases and share sales has led to speculation that the company is reviewing its investment strategy. However, there is no indication that Strategy, the largest Bitcoin investor among publicly traded companies, has changed its long-term BTC holding plan.
In the coming weeks, it will be closely watched whether the company will continue to buy Bitcoin and resume share sales.
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