Disruption in the 13-week consecutive buying spree, What is the Strategy's Intent?

Original Title: "Saylor Breaks 13-Week Streak of Bitcoin Purchases, Shifts Focus to STRC Preferred Stock"

Original Source: DeepChain TechFlow

BlockBeats Note: On March 30, Strategy company announced that they did not purchase any Bitcoin in the past week and currently hold 762,099 BTC, valued at over $51.5 billion. This marks the first official interruption of Bitcoin purchases by Strategy since December last year. The following is the original content:

Strategy (formerly MicroStrategy) CEO Michael Saylor did not issue his usual "orange dot" Bitcoin purchase signal this Sunday, instead fully promoting the company's perpetual preferred stock, STRC, seemingly interrupting the 13-week Bitcoin accumulation trend since the end of December last year. During this accumulation period, Strategy accumulated approximately 90,831 BTC. The company currently holds 762,099 BTC with an average cost of about $75,694 per BTC, while the current Bitcoin price is around $66,389, resulting in a significant unrealized loss. The 8-K filing on Monday will confirm if the purchasing has indeed been paused.

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

According to BeInCrypto's report on March 29, Saylor did not release his iconic "orange dot" purchase tracking chart on X platform this Sunday, but instead shifted all focus to the company's perpetual preferred stock, Stretch (code STRC). For the past 13 weeks, this signal has been a reliable indicator for traders to assess whether Strategy is about to accumulate more Bitcoin: Sunday chart release followed by an 8-K filing on Monday morning to confirm purchase details.

This silent break marks the end of a highly aggressive accumulation period.

Buying 90,000 BTC in 13 Weeks, Significant Volume Decrease in the Last Week

In this continuous accumulation phase initiated since the end of December last year, Strategy has purchased approximately 90,831 BTC. According to official company data as of March 22, Strategy holds 762,099 BTC, with a total cost of about $57.69 billion and an average purchase price of around $75,694.

However, the buying intensity has significantly waned in recent weeks. According to CoinDesk, during the week of March 16 to 22, the Strategy only acquired 1,031 BTC, spending $76.6 million at an average price of around $74,326, all through a regular stock ATM (at-the-market) financing. The purchasing scale in the previous two weeks was 17,994 BTC (about $1.28 billion) and 22,337 BTC (about $1.57 billion), with the latter being the largest weekly purchase since 2026.

From aggressive billion-dollar-level sweeps to a $76.6 million "drizzle," to a possible pause this week, the diminishing volume trajectory is clearly visible.

Saylor Shifts Spotlight to STRC with $42 Billion ATM Plan Just Launched

This week, Saylor posted on Platform X stating that within the last 30 days, STRC had a lower volatility than all S&P 500 constituents and all major asset classes while providing an 11.5% annualized dividend yield. He also argued in another post that the Bitcoin annualized return required to sustain the STRC dividend is only about 2.13%, significantly lower than Bitcoin's historical performance.

The timing of this "promotion" is not coincidental. On March 23, the Strategy just announced a new $42 billion ATM issuance plan, with $21 billion allocated to MSTR common stock, $21 billion to STRC preferred stock, and an additional $2.1 billion in STRK preferred stock ATM capacity.

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

According to data cited by Yahoo Finance, about 80% of STRC holders are retail crypto investors, not institutional investors. In March 2026, Strategy raised approximately $1.2 billion for Bitcoin purchases through STRC's ATM sales, marking the first time preferred stock surpassed common stock as the primary source of financing. However, this also means that STRC's financing ability is directly tied to retail investors' confidence in Bitcoin.

Bitcoin Drops to $66,000 Range, Strategy Faces Mark-to-Market Losses

Amid a signal of silence, Bitcoin is facing a downturn. At the time of writing, Bitcoin is trading around $67,000, down about 47% from its all-time high of around $126,000 in October 2025. MSTR's stock price has dropped about 76% to 77% from its peak in November 2024.

With a calculated position of 762,099 coins at an average price of $75,694, Strategy's total Bitcoin holding cost is around $57.69 billion, while the market value at the current price is around $50.5 billion, resulting in a mark-to-market loss of over $7 billion.

In a broader context, corporate Bitcoin purchases have been highly concentrated in Strategy alone. According to a CryptoQuant report this week, Strategy has bought around 45,000 BTC in the past 30 days, while all other corporate treasuries combined have only bought about 1,000 coins. Strategy currently holds about 76% of the total corporate treasury Bitcoin, with other companies' purchasing share plummeting from 95% at its peak to 2%. This trend, touted by the market as "expanding institutional ownership base," has actually evolved into a concentration risk for a single company.

Answers to Be Revealed in Monday's 8-K Filing

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

However, if Monday's filing confirms no additional holdings, it will be the first formal pause since December last year, and may also mark a turning point in Strategy's financing strategy — shifting from aggressive accumulation at all costs to a key juncture in securing the new financing engine of STRC.

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