Saylor ends his 13-week streak of Bitcoin purchases and shifts focus to promoting preferred stock STRC

13 weeks bought 90,000 BTC, with a significant reduction in volume in the last week.

Author: Deep Tide TechFlow

The Executive Chairman of Strategy (formerly MicroStrategy) Michael Saylor did not release the customary “orange dot” Bitcoin purchase signal this Sunday, instead fully promoting the company’s perpetual preferred stock STRC, suggesting a potential interruption in the continuous Bitcoin accumulation that has occurred for 13 weeks since the end of December last year. During this round of accumulation, Strategy has purchased approximately 90,831 BTC. The company currently holds 762,099 Bitcoins, with an average cost of about $75,694, while the current Bitcoin price is approximately $66,389, resulting in a significant unrealized loss. Monday’s 8-K filing will confirm whether purchases have truly paused.

Strategy may have interrupted its weekly Bitcoin accumulation rhythm for the first time since the end of December last year.

According to BeInCrypto’s report on March 29, Saylor did not post his iconic “orange dot” purchase tracking chart on the X platform this Sunday, instead directing all attention to the company’s perpetual preferred stock Stretch (ticker STRC). Over the past 13 weeks, this signal has become a reliable indicator for traders to judge whether Strategy is about to increase its Bitcoin holdings: posting the chart on Sunday and submitting the 8-K filing on Monday morning to confirm purchase details.

This silence breaks a highly aggressive accumulation cycle.

13 weeks bought 90,000 BTC, with a significant reduction in volume in the last week

Since the initiation of this continuous accumulation at the end of December last year, Strategy has accumulated approximately 90,831 Bitcoins. According to the company’s official data dashboard, as of March 22, Strategy holds 762,099 BTC, with a total cost of approximately $57.69 billion and an average purchase price of about $75,694.

However, the intensity of the accumulation has significantly weakened in the last few weeks. According to CoinDesk, in the week from March 16 to 22, Strategy purchased only 1,031 BTC, costing $76.6 million, with an average price of approximately $74,326, all financed through common stock ATM (at-the-market issuance). The purchase scales for the previous two weeks were 17,994 BTC (approximately $1.28 billion) and 22,337 BTC (approximately $1.57 billion), the latter being the largest single-week purchase since 2026.

From aggressive multi-billion dollar buying to a “drizzle” of $76 million, and potentially pausing this week, the reduction in volume is clearly visible.

Saylor shifts the spotlight to STRC, with the $42 billion ATM plan just launched

Saylor posted on the X platform this Sunday, stating that STRC’s volatility in the past 30 days has been lower than all constituents of the S&P 500 and all major asset classes, while providing an annualized dividend yield of 11.5%. In another post, he argued that the annualized return on Bitcoin required to maintain the STRC dividend is only about 2.13%, far below Bitcoin’s historical performance.

This “promotion” action is not coincidental. On March 23, Strategy just announced a new ATM issuance plan amounting to $42 billion, with $21 billion allocated for MSTR common stock, $21 billion for STRC preferred stock, and an additional $2.1 billion for STRK preferred stock ATM quota.

STRC is a perpetual preferred stock launched by Strategy in July 2025, with a par value of $100, and dividends paid monthly, with an interest rate adjustable by ±0.25 percentage points each month. The current annualized dividend rate has risen to 11.5%, marking the seventh consecutive month of increase. CEO Phong Le previously stated in February that the company is shifting from relying on common stock issuance to using preferred stock as the primary financing tool for Bitcoin purchases.

According to data cited by Yahoo Finance, about 80% of STRC holders are retail investors in crypto rather than institutional investors. In March 2026, Strategy raised approximately $1.2 billion through STRC’s ATM sales for Bitcoin purchases, marking the first time that preferred stock surpassed common stock as the main source of financing. However, this also means that STRC’s financing capacity is directly tied to retail investors’ confidence in Bitcoin.

Bitcoin falls to the $66,000 range, Strategy suffers deep unrealized losses

As the silence signal emerges, Bitcoin is in a slump. As of the time of writing, Bitcoin prices are around $67,000, down about 47% from the historical high of approximately $126,000 in October 2025. MSTR’s stock price has dropped about 76% to $77 from its peak in November 2024.

Calculating with 762,099 holdings and an average price of $75,694, Strategy’s total cost for Bitcoin holdings is approximately $57.69 billion, while the market value calculated at the current price is about $50.5 billion, resulting in an unrealized loss of over $7 billion.

The broader context is that corporate Bitcoin purchases have become highly concentrated in Strategy alone. According to a report from CryptoQuant this week, Strategy purchased approximately 45,000 BTC in the past 30 days, while all other corporate treasury companies combined purchased only about 1,000 BTC. Strategy now holds about 76% of the total corporate treasury Bitcoin, with other companies’ purchase share plummeting from a peak of 95% to 2%. This trend, marketed as “broadening the institutional holding base,” has effectively evolved into a concentration risk for a single company.

Monday’s 8-K filing will reveal the answer

The absence of Sunday’s post does not necessarily imply a pause in purchases. Strategy has previously experienced signal changes, and the company may quietly confirm new purchases in Monday’s 8-K filing. Additionally, Strategy briefly paused purchases in early July and early October 2025, both of which were temporary adjustments.

However, if Monday’s filing confirms no new holdings, it would mark the first official interruption since December last year, and could also signify a turning point in Strategy’s financing strategy—from aggressive accumulation at all costs to stabilizing STRC as a key new financing engine.