Strategy Breaks Two-Year Streak Without New Bitcoin Purchases

Michael Saylor's Strategy has gone four weeks without adding any Bitcoin to its portfolio, breaking its streak of consistent buying. The last time Strategy went this long without purchasing BTC was two years ago.

Saylor posted a chart on X with the caption 'We're gonna need another color,' but did not explain what it meant or confirm whether a new purchase would be made. Despite heavy engagement from followers, there was no subsequent transaction.

Strategy's market value against its Bitcoin holdings, known as enterprise mNAV, fell below 1 on June 27. This indicates that the company is trading at a discount to the value of the coins it holds.

The pause in buying comes after Strategy received a warning from CryptoQuant head of research Julio Moreno in June. He urged the company to stop buying Bitcoin and rebuild its cash buffer, citing concerns over rising dividend obligations and a shrinking cash reserve.