Strategy, the world's largest crypto treasury company, announced it will pause its regular bitcoin (BTC) acquisition this week, ahead of the release of its first-quarter earnings report.
"No buys this week. Back to work next week," Strategy Founder and Chairman Michael Saylor wrote on social media platform X on Sunday.
This is Strategy's second pause in weekly purchases this year, following a break during the week of March 23 to March 29.
As of today, Strategy holds 818,334 BTC, representing nearly 3.9% of bitcoin's 21 million total supply. Its acquisition last week added 3,273 BTC to the stash for $77,906 per bitcoin. The cryptocurrency was trading at $80,101 as of 10:50 p.m. ET on Sunday, up 20% in the past 30 days, according to The Block's bitcoin price page.
Strategy is set to release its first-quarter earnings on Tuesday, with Wall Street analysts expecting a loss of $18.98 per share, according to Yahoo Finance. The company reported a loss of $16.38 per share in the first quarter of 2025.
The firm's acquisitions are usually made using proceeds from at-the-market sales of its Class A common stock, MSTR, and perpetual preferred stocks. One of the perpetual preferred shares, STRC, has brought concerns from analysts and investors due to its high annual dividend rate.
STRC is a perpetual preferred share designed to trade near $100 while offering a variable monthly dividend, currently around 11.5% annualized.
K33 Head of Research Vetle Lunde wrote in a March report that the growing ties between Strategy's aggressive bitcoin accumulation and STRC are introducing structural risks linked to market sentiment and pricing dynamics.
Lunde pointed out that STRC holders face capped upside through dividends but potential downside during market drawdowns. If STRC trades below its target level for an extended period, it could shift toward a credit-like risk profile rather than a perceived stable-yield product, the analyst noted.
Some others have been more abrupt in voicing their concerns, calling STRC a "Ponzi scheme" that could eventually fall into a death spiral.
Meanwhile, Benchmark analyst Mark Palmer recently pushed back against the criticism, describing STRC as part of a "deliberate and durable" model that "converts demand for yield into long-term bitcoin exposure."
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