Saylor ends his 13-week streak of Bitcoin purchases and shifts focus to promoting preferred stock STRC

Author: Deep Tide TechFlow

Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor did not release the routine “orange dot” Bitcoin purchase signal this Sunday, instead fully promoting the company’s perpetual preferred stock STRC, seemingly interrupting the continuous Bitcoin accumulation rhythm that had persisted for 13 weeks since the end of last December. During this accumulation period, Strategy has purchased approximately 90,831 BTC. The company currently holds 762,099 Bitcoins, with an average cost of about $75,694, while the current Bitcoin price is around $66,389, leading to a significant paper loss. An 8-K filing on Monday will confirm whether the purchases have indeed been paused.

This may be the first interruption of the weekly Bitcoin accumulation rhythm that has been ongoing since the end of last December.

According to BeInCrypto’s report on March 29, Saylor did not post his iconic “orange dot” purchase tracking chart on the X platform this Sunday, but instead shifted all attention to the company’s perpetual preferred stock Stretch (ticker STRC). Over the past 13 weeks, this signal has become a reliable indicator for traders to judge whether Strategy is about to increase its Bitcoin holdings: posting the chart on Sunday and submitting an 8-K filing on Monday morning to confirm purchase details.

This silence breaks a period of extremely aggressive accumulation.

Accumulating 90,000 BTC over 13 weeks, with significantly reduced volume in the last week

Since the continuous accumulation began at the end of last December, Strategy has purchased approximately 90,831 Bitcoins in total. According to the company’s official data panel, as of March 22, Strategy holds 762,099 BTC, with a total cost of about $57.69 billion and an average purchase price of about $75,694.

However, the intensity of accumulation has clearly diminished in the last few weeks. According to CoinDesk, from March 16 to 22, Strategy purchased only 1,031 BTC, costing $76.6 million, with an average price of about $74,326, all financed through common stock ATM (At-the-Market) issuance. In contrast, the purchases in the previous two weeks were 17,994 BTC (about $1.28 billion) and 22,337 BTC (about $1.57 billion), the latter being the largest single-week purchase since 2026.

From aggressive multi-billion dollar buying to a “drizzle” of $76 million, and possibly a pause this week, the reduction in volume is clearly visible.

Saylor shifts the spotlight to STRC, with a newly launched $42 billion ATM program

Saylor posted on the X platform this Sunday, stating that STRC’s volatility over the past 30 days has been lower than that of all S&P 500 constituents and all major asset classes, while offering an annualized dividend yield of 11.5%. He also argued in another post that the annualized Bitcoin return rate required to maintain the STRC dividend is only about 2.13%, far below Bitcoin’s historical performance.

The timing of this “pitch” is not coincidental. On March 23, Strategy announced a new ATM issuance program worth $42 billion, with $21 billion allocated to MSTR common stock, $21 billion to STRC preferred stock, and an additional $2.1 billion of STRK preferred stock ATM capacity.

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

According to data cited by Yahoo Finance, approximately 80% of STRC holders are retail investors in the crypto space, rather than institutional investors. In March 2026, Strategy raised about $1.2 billion through STRC’s ATM sales for Bitcoin purchases, making preferred stock the primary source of financing for the first time, surpassing common stock. However, this also means that STRC’s financing capacity is directly tied to retail investors’ confidence in Bitcoin.

Bitcoin has fallen to the $66,000 range, with Strategy facing substantial paper losses

At the time of the silence signal, Bitcoin is in a downturn. As of the time of writing, Bitcoin is priced around $67,000, down about 47% from its historical high of approximately $126,000 in October 2025. MSTR’s stock price has fallen about 76% to $77 from its peak in November 2024.

Calculating with 762,099 holdings and an average price of $75,694, Strategy’s total Bitcoin holding cost is approximately $57.69 billion, while the market value at the current price is about $50.5 billion, resulting in a paper loss of over $7 billion.

The broader context is that corporate Bitcoin purchases have become highly concentrated in Strategy alone. According to a report by CryptoQuant this week, Strategy purchased about 45,000 BTC over the past 30 days, while all other corporate treasury companies combined purchased only about 1,000 BTC. Strategy currently holds about 76% of the total corporate treasury Bitcoin, while the purchasing share of other companies has plummeted from a peak of 95% to 2%. This trend, which is marketed as “broadening the institutional holding base,” has actually evolved into a concentration risk in a single company.

The 8-K filing on Monday will reveal the answer

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

However, if the Monday filing confirms that there are no new holdings, it would mark the first official interruption since last December, and could signal a turning point in Strategy’s financing strategy—from aggressive accumulation at all costs to a critical juncture in stabilizing STRC as a new financing engine.