After a consistent three-month period of weekly Bitcoin acquisitions, MicroStrategy paused its buying spree for the first time since April.
Crypto Update: MicroStrategy has broken its pattern of weekly Bitcoin buys, ending a three-month run that began in April.
Chairman Michael Saylor commented that the company would “HODL” this week, foregoing any additional Bitcoin purchases.
The firm recently introduced a new $4.2 billion offering of STRD preferred stock, designed to finance future acquisitions of Bitcoin.
MicroStrategy’s Bitcoin holdings now total nearly 600,000 BTC, with an estimated market value of approximately $65 billion.
During the second quarter, the business added approximately $7 billion worth of Bitcoin to its holdings, resulting in $14.05 billion in unrealized profits.
STRD is presented as the “fourth gear” in MicroStrategy’s Bitcoin accumulation strategy, specifically appealing to investors seeking yield.
MicroStrategy’s Bitcoin stash accounts for over 2.8% of the total Bitcoin supply, making it the largest corporate holder in the world.
The company also offers other preferred stock options, STRK and STRF, each featuring distinct dividend structures.
Shares of MSTR experienced a slight dip of 0.75%, closing at $400.96, but are still up 39% from the beginning of the year, despite market fluctuations.
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