Strategy’s Bitcoin Buying Power Limited Amid Weak Share Performance
Strategy’s ability to fund large Bitcoin purchases appears constrained following a lackluster performance in its common and preferred shares.
Michael Saylor, Executive Chairman of Strategy (MSTR), confirmed that the largest publicly traded Bitcoin holder added more of the cryptocurrency over the past week, with BTC trading near $78,844.44.
For months, Saylor has often signaled Strategy’s Bitcoin purchases with weekend posts featuring orange dots—a cue typically followed by a formal announcement on Monday.
However, the company’s common stock fell 6% over the week, closing below $150 per share, likely limiting its capacity to raise capital through at-the-market (ATM) sales and constraining the size of Bitcoin acquisitions.
Strategy’s perpetual preferred stock, Stretch (STRC), also traded below its $100 par value for the entire week, preventing ATM issuance tied to that instrument. The company recently increased the dividend rate on STRC shares to support the price.
Since the start of the year, Strategy has acquired roughly 40,000 BTC, bringing its total holdings to approximately 712,647 BTC.
At the time of writing, Bitcoin is trading around $78,000.
