MicroStrategy ends 13-week Bitcoin buying streak as preferred funding stalls
MicroStrategy paused its weekly Bitcoin buys. The 13‑week streak ended last week according to on‑chain trackers and X posts.
The halt breaks a programmatic bid that ran since late December 2025. Over 13 weeks, the firm accumulated about 90,831 BTC, funded via equity and preferreds company materials.
The large adds peaked in early March. Then the pace slowed into late March, signaling funding friction as preferred issuance cooled.
Why it paused. The STRC preferred engine worked only while shares traded at or above par. As STRC slipped below $100 in late March, issuance stalled. Residual ATM capacity on MSTR looked limited versus peak weekly buys.
MicroStrategy moved to refresh funding. It announced new ATM programs for $STRC and $MSTR in an official post. That keeps multiple “gears” open for future purchases.
Impact on market flow. Without the weekly bid, a consistent source of spot buy‑side demand goes quiet. Traders tracking liquid supply will watch if and when the program restarts confirmation.
What the balance sheet carries. The company holds a large BTC treasury and continues to position 2026 as a capital‑raising year for accumulation executive commentary.
