Strategy Pauses Bitcoin Buying Amid Shift in Strategy

Strategy has not bought any Bitcoin in five weeks, marking its longest pause in nearly two years. In that time, the company spent $25 million buying back its own preferred stock, STRC, and announced plans to fund future buybacks through selling MSTR shares and possibly Bitcoin.

The 843,775 coins held by Strategy are worth about $53.9 billion today, down from the $63.68 billion they cost at an average price of $75,476 each. This represents a loss of roughly $9.8 billion for the company.

Strategy's decision to stop buying Bitcoin may be due to its stock trading near par with the value of its Bitcoin holdings. This means that selling shares to buy coins would leave shareholders slightly worse off each time.