Strategy, Formerly MicroStrategy, Skips Bitcoin Purchase Ahead of Earnings – MSTR Stock Still Climbs
Strategy (formerly MicroStrategy) didn’t add any Bitcoin to its holdings between July 21 and July 27, despite expectations. The company confirmed the pause in a recent SEC Form 8-K filing, keeping its Bitcoin treasury at 607,770 BTC, acquired at an average price of $71,756 and totaling $43.61 billion in investment.
This update arrives just days before Strategy’s Q2 earnings report, scheduled for July 31. Interestingly, Michael Saylor had recently hinted at a potential BTC purchase by sharing the firm’s portfolio tracker with a nostalgic caption. However, it turned out to be a reference to their very first Bitcoin investment of $250 million in 2020 — not a new buy.
Despite the lack of new Bitcoin activity, Strategy remains aggressive in its crypto strategy. The company plans to raise nearly $2.5 billion through its Stretch preferred stock offering, expected to close by July 29, with funds earmarked for additional BTC acquisitions.
Thanks to Bitcoin’s rally to $111,900 in May, the firm reported a $14 billion unrealized gain on its BTC holdings in Q2. Meanwhile, MSTR stock has shown resilience, gaining nearly 3% today and climbing from $405 to around $417 in premarket trading, according to TradingView.
