Strategy Inc paused Bitcoin acquisitions for a third week in a row, freezing its crypto holdings at 843,775 BTC. Meanwhile, the company raised $544.5 million by selling over 5.4 million Class A shares through its at-the-market offering program from July 20 to July 26.
In addition to share sales, Strategy repurchased nearly 289,000 STRC preferred shares for $25 million, reducing the outstanding supply of its 9.0% Series A Perpetual Stretch Preferred Stock. This move was detailed in an SEC Form 8-K filed Monday and coincided with a 2.63% rise in MSTR stock to $94.08 in premarket trading, while STRC shares climbed 2.3% ahead of the open.
Bitcoin’s market price hovered around $64,900 during the filing, significantly below the company’s average purchase price of $75,476 per coin, totaling about $63.69 billion in holdings. The USD reserve grew to $3.75 billion from $3.225 billion the previous week, funds which cover preferred stock dividends and interest payments on debt.
Executive Chairman Michael Saylor signaled ongoing support for STRC stock with intentions to continue disciplined buybacks below $100 per share, pointing out availability of nearly $975 million for such repurchases. His recent cryptic tweet, hinting at "another color," sparked speculation about potential new preferred stock offerings.
Saylor also reignited debates within the Bitcoin community by emphasizing that future Bitcoin growth relies on integrating with traditional banks, arguing that excluding financial institutions could restrict access for most users. This stance attracted criticism from purists who see Bitcoin’s value in bypassing intermediaries, reflecting a clear division in views on mainstream adoption paths.
