Bitcoin may invalidate its bear flag setup as Strategy buys 46,233 BTC in just over a month, outpacing the 16,200 BTC supply in the same period. Bitcoin (BTC) is trading within a bear flag pattern that projects a breakdown toward the sub-$50,000 area, or roughly 30% below current levels. However, Michael Saylor’s Strategy could spoil the bears’ plans. Key takeaways: Bitcoin has avoided a bear flag breakdown for weeks as Strategy keeps buying BTC. Read more
Strategy resumed Bitcoin purchases, acquiring 4,871 BTC for $329.9 million, while reporting a $14.46 billion unrealized loss and expanding its holdings. Michael Saylor’s Strategy, the world’s largest publicly listed holder of Bitcoin, resumed buying BTC last week after reporting no purchases in the final week of March. Strategy acquired 4,871 Bitcoin (BTC) for $329.9 million last week, according to an 8-K filing with the US Securities and Exchange Commission on Monday. The purchases were made at an average price of $67,718 per coin, below the company’s overall average acquisition price of $75,644. The new acquisitions bring Strategy’s holdings to 766,970 BTC, acquired for a total cost of around $58 billion. Read more
Michael Saylor's Strategy has raised funds to purchase at least 1,111 BTC this week, increasing the odds of sending prices higher in April. Michael Saylor’s Strategy (MSTR) looks set to restart its Bitcoin (BTC) accumulation engine after a short pause, with its STRC preferred stock likely funding fresh crypto purchases this week. Key takeaways: Strategy may purchase at least $76.25 million in Bitcoin this week. Read more
For the first time in 13 weeks, the biggest public Bitcoin treasury company skipped a weekly purchase of the cryptocurrency without any word from Michael Saylor. Strategy, the largest public Bitcoin (BTC) treasury company, reported no additional purchases of the cryptocurrency last week as many entities are pivoting into alternative methods for revenue. In a Monday filing with the US Securities and Exchange Commission (SEC), Michael Saylor-led Strategy reported that it did not purchase any Bitcoin between March 23 and March 29, nor did the company sell any shares. Strategy reported holding 762,099 BTC as of Sunday, worth more than $51 billion at the time of publication. Typically, Strategy funds its BTC purchases through the sale of its common stock. However, the company reported it “did not sell any shares under its at-the-market offering program and did not purchase any Bitcoin.” Read more
Strategy is increasingly turning to perpetual preferred stocks to fund its Bitcoin strategy, with the company adding 90,000 BTC to its balance sheet so far this year. Michael Saylor’s Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin purchases, including the sale of common shares and two of its dividend-paying equity vehicles. Strategy plans to raise up to $21 billion by selling Strategy (MSTR) stock and another $21 billion from its high-yield perpetual preferred stock, Stretch (STRC), via new at-the-market programs, the company said in an 8-K filing to the US Securities and Exchange Commission on Monday. Strategy also intends to sell up to $2.1 billion worth of Strike (STRK) — another of its perpetual preferred stock offerings. The company didn’t specify a timeline for the issuances, stating that shares may be sold “from time to time.” Read more
Strategy bought 1,031 Bitcoin for $76.6 million, lifting holdings to 762,099 BTC, as the company relied on common stock sales to fund the purchase. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin (BTC), bought another 1,031 Bitcoin last week in a much smaller purchase than its previous two weekly buys, funding the acquisition with sales of Class A common stock. Strategy acquired 1,031 Bitcoin for $76.6 million last week, according to an 8-K filing with the US Securities and Exchange Commission on Monday. The purchases were made at an average price of $74,326 per coin, below the company’s overall average acquisition price of $75,694. Bitcoin averaged around $70,871 for the week of March 16-22, based on daily closing prices. Read more
Strategy often pauses BTC buys when STRC falls below $100, a setup that has previously coincided with 25%–40% Bitcoin declines. Strategy paused its Bitcoin (BTC) accumulation via STRC preferred stock after failing to raise fresh capital since Friday, marking a notable shift after two aggressive weeks of buying. Key takeaways: STRC has dipped below its $100 par value, forcing Strategy to halt its Bitcoin buying spree. Read more
Strategy bought 22,337 Bitcoin for $1.57 billion last week, lifting total holdings to 761,068 BTC as it funds purchases through record sales of its STRC preferred stock. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued aggressively stacking Bitcoin last week, bringing the company’s total reserves to above 760,000 BTC. Strategy acquired 22,337 Bitcoin (BTC) for $1.57 billion last week, according to a US Securities and Exchange Commission filing on Monday. The purchase ranks among the five largest Bitcoin acquisitions by Strategy on record, following a massive 17,994 Bitcoin buy for $1.28 billion a week earlier. Read more
The USDt-settled contracts allow traders to speculate on the price movements of the two companies’ shares around the clock without owning the underlying stocks. Crypto exchange KuCoin has launched equity-linked perpetual derivatives tied to stocks, including Tesla and Strategy, allowing traders to speculate on their price movements through USDt-settled contracts that trade around the clock. According to Friday’s announcement, the first listings include TSLAUSDT and MSTRUSDT perpetual contracts, which track price movements in the underlying equities but do not grant ownership of the shares. Instead, the products are synthetic derivatives settled in stablecoins. The contracts have no expiration date and can be traded continuously. Positions can be opened with as little as 1 USDt (USDT), lowering the entry threshold for traders seeking exposure to equity-linked price movements through a crypto trading platform. Read more
The investment makes Strive the latest corporate to add the yield-generating security to its balance sheet as companies explore Bitcoin-linked treasury instruments. Strive Asset Management (ASST) said Wednesday it has allocated $50 million of its corporate treasury to STRC, the variable-rate perpetual preferred stock issued by Strategy. The investment represents more than one-third of Strive’s treasury reserves and reflects growing institutional interest in yield-generating securities linked to Bitcoin-focused treasury strategies, according to a company announcement. The allocation makes Strive the latest company to add STRC to its balance sheet, following similar moves by companies including Prevalon Energy, Anchorage Digital and Oranjebtc, according to Strategy. Read more
STRC’s average daily volume implies buying power for about 1,940 BTC per day, more than four times the amount of new Bitcoin mined. Michael Saylor’s Strategy (MSTR) may reach the 1 million Bitcoin (BTC) milestone faster than expected, potentially overtaking BlackRock in total holdings. Key takeaways: STRC share sales have generated cash to acquire over 3,500 BTC so far this week. Read more