#USSeeksStrategicBitcoinReserve

MicroStrategy Stops Preferred Stock Sales That Drive Bitcoin Purchases in April

MicroStrategy halted the sale of the fourth class of preferred stock last week. This move paused the main funding engine for their large Bitcoin purchases
BTCUSD
in 2026.

This correction makes MSTR common stock the only active funding source. The company successfully raised $82 million from stock sales but did not buy any Bitcoin during those seven days.

Preferred Stock Sales Halted

The Securities and Exchange Commission (SEC) filing document on Monday details MicroStrategy's weekly funding picture. The four classes of preferred stock recorded zero sales between April 27 and May 3.

Total capacity available in STRF, STRC, STRK, and STRD remains over $27 billion.

This freeze is very different from the April strategy. MicroStrategy financed $2.54 billion worth of Bitcoin purchases during April 13–19, mainly through STRF preferred stock.

From just one class of stock, STRF, they raised $2.18 billion, while MSTR ATM contributed only $366 million.

MSTR Stock Supports Slowdown

The 8-K document revealed that MicroStrategy sold 492,210 Class A shares last week, raising net funds of $82 million. None of this capital was used to buy Bitcoin. The remaining capacity in the MSTR program itself is still over $26.4 billion.

This slowdown coincides with signals from Executive Chairman Michael Saylor on social media stating that there will be no purchases this week and that activity may continue seven days later.

Financial Report Day as Benchmark

MicroStrategy will report its first-quarter financial results on Tuesday after the market closes. Wall Street expects a loss of $0.86 per share with revenues around $123 million.

This deficit represents a significant decrease compared to a loss of $16.49 per share in the same quarter last year.

Ownership still stands at 818,334 BTC with an average cost of $75,532. At the current price of around $78,967, this position is worth about $64.6 billion, with unrealized gains of approximately $2.7 billion.

Investors will pressure the Wednesday conference call to determine whether this preferred stock sale pause is related to price issues, regulation, or just end-of-quarter financial adjustments. The options market prices the stock's movement at about 8% after this earnings report announcement.