Strategy, a business intelligence and software firm known for holding the largest treasury of Bitcoin among public companies, appeared to skip its customary weekly Bitcoin purchase update for the first time since late December. This development has sparked discussion within the digital asset community, as Executive Chair Michael Saylor did not share the usual Sunday “Orange Dot” post on X (Twitter), which often signals an imminent purchase.
Weekly Bitcoin ritual interrupted as STRC focus emerges
For 13 consecutive weeks, Michael Saylor drew attention by posting Bitcoin accumulation charts on Sundays, marked with orange dots to indicate planned purchases. These updates became a recurring signal for crypto traders and analysts, typically followed by a detailed 8-K filing each Monday confirming the transactions.
During this prolonged streak, Strategy added around 90,831 BTC to its reserves, bringing its total holdings to 762,099 Bitcoin. According to the company’s dashboard, the average acquisition price stands at $75,694 per Bitcoin.
This Sunday, however, Saylor shifted focus. Rather than referencing Bitcoin purchases, he centered his social media posts on the performance of STRC, Strategy’s perpetual preferred stock.
Over the past 30 days, $STRC has been less volatile than every company in the S&P 500—and every major asset class—while delivering an 11.5% dividend yield, Saylor highlighted in one of his posts.
This marked change coincides with anticipation around the company’s latest 8-K filing, which will clarify whether Strategy has truly paused its acquisitions or quietly continued its buying pattern behind the scenes.
STRC preferred shares take priority amid new funding strategy
Strategy has recently placed increased emphasis on its STRC preferred shares. On March 23, the firm unveiled a $42 billion at-the-market equity program, evenly split between $21 billion in common stock (MSTR) and $21 billion in STRC shares. In addition, a separate $2.1 billion ATM facility was launched for the STRK preferred series.
Strategy designed STRC to pay a variable annualized dividend, currently set at 11.5% for March 2026. This dividend has risen for seven consecutive months since STRC began trading in July 2025, with monthly resets aimed at keeping it close to its $100 par value and mitigating volatility.
Saylor described that the breakeven annual return on Bitcoin necessary to support the STRC dividend stands at about 2.13%, a figure seen as conservative in the context of Bitcoin’s historical growth.
At that level, the dividend can be sustained indefinitely, Saylor argued, addressing questions about the structure’s long-term performance.
Strategy’s CEO, Phong Le, indicated in February that the company would increasingly pivot towards preferred share issuance rather than common stock as its main funding source for future Bitcoin acquisitions. This updated approach is intended to diversify capital raising tools, while still supporting the company’s digital asset strategy.
Market context and possible reasons for the pause
The pause in Bitcoin-related updates arrives at a point where Bitcoin trades at $66,389, which remains nearly half below its October 2025 all-time high near $126,000. MSTR shares have experienced a similar pattern, standing about 76% lower than their November 2024 peak.
In the past, Strategy temporarily paused its weekly buying ritual—most notably in early July and October 2025—although such breaks proved brief. Now, it remains unclear if the current pause signals a change in the accumulation strategy or simply a recalibration in public communication tactics, possibly to spotlight the growing role of STRC in the company’s funding model.
