Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, reported no Bitcoin buys last week despite the asset seeing volatility after breaking all-time highs in mid-July.
Strategy’s Bitcoin (BTC) holdings remained unchanged at 607,770 BTC as the company opted not to buy more BTC last week, according to a US Securities and Exchange Commission filing on Monday.
The price of Bitcoin climbed from about $118,000 to more than $119,000 over the course of the week, despite Strategy’s inactivity and a reported 80,000 BTC sale by an early investor on Friday, according to data from CoinGecko.
The latest missed purchase marks the second time in July that Strategy has reported no weekly BTC acquisitions, following a similar absence of buys in the first week of the month.
Strategy BTC buys drop 39% month-over-month
The latest pause highlights a broader slowdown in Strategy’s July buying activity. The company reported two weekly Bitcoin acquisitions in July: a 4,225 BTC purchase on July 14 and another 6,220 BTC purchase on July 21.
Its BTC buys in July were down 39% from the 17,075 BTC purchased in June.
The company bought even more Bitcoin in the previous months, reporting purchases of 26,695 BTC in May and 25,370 BTC in April.
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Prior to skipping the buy in the first week of July, Strategy previously reported no buys in the first week of April.
Strategy upsized STRC offering last week
The slowdown in Strategy’s Bitcoin buying came as the company upsized its Series A perpetual stretch preferred stock (STRC) offering to $2.521 billion from an initially planned $500 million on Friday.
With the STRC priced at $90, the issuance and sale are scheduled to settle on Tuesday, subject to customary closing conditions.
Similar to four other Strategy offerings, including the Series A perpetual strike preferred stock (STRK), the new STRC program is an equity-raising mechanism designed to allow the company to gradually sell newly issued shares to buy more Bitcoin.
On Wednesday, Strategy co-founder Saylor took to X to refer to STRC as one of the four pillars of the “Bitcoin defense department.”
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