As the world's largest publicly held Bitcoin institution, Michael Saylor's Strategy company reported that despite Bitcoin experiencing price fluctuations after breaking its historical high in mid-July, the company did not increase its Bitcoin holdings last week.
According to a filing submitted to the U.S. Securities and Exchange Commission on Monday, Strategy's Bitcoin (BTC) holdings remained unchanged at 607,770 BTC, as the company chose not to make any BTC purchases last week.
Data from CoinGecko shows that despite Strategy's wait-and-see attitude, and reports that an early investor sold 80,000 BTC last Friday, the price of Bitcoin still rose from about $118,000 to over $119,000 within a week.
This pause in purchases marks the second time in July that Strategy has reported no weekly BTC acquisition activity, following a similar lack of purchases in the first week of the month.
The latest pause in purchases highlights an overall slowdown in Strategy's acquisition activities in July. The company reported only two Bitcoin acquisitions in July: purchasing 4,225 BTC on July 14 and 6,220 BTC on July 21.
The total BTC purchased by the company in July decreased by 39% compared to 17,075 BTC in June.
The company was more active in its purchasing activities in previous months, reporting the acquisition of 26,695 BTC in May and 25,370 BTC in April.
Before skipping purchases in the first week of July, the last time Strategy reported no purchases was in the first week of April.
As Strategy's Bitcoin purchases slow down, the company officially expanded the issuance scale of its Series A perpetual preferred stock (STRC) from the initially planned $500 million to $2.521 billion last Friday.
STRC is priced at $90, with the issuance and sales plan set to settle on July 29, subject to customary trading conditions.
Similar to other four issuance plans by Strategy, including the Series A perpetual strike preferred stock (STRK), the new STRC project is an equity financing mechanism designed to allow the company to gradually sell newly issued shares to purchase more Bitcoin.
On July 23, Strategy co-founder Saylor stated on the X platform that STRC is one of the four pillars of the "Bitcoin defense sector."
Related: SharpLink splurges $295 million to acquire ETH—single transaction amount exceeds last month's total Ethereum issuance.
Original: “Strategy Company Pauses Bitcoin (BTC) Purchases During New Equity Issuance Last Week”
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