Why is Strategy buying so little BTC right now? 👀
An hour ago, a fresh report for the past week was released: they bought $22 million worth of BTC and, at the same time, purchased $193 million worth of STRC shares.
If we look at the trends over the fall—they bought $290 million worth of BTC and $1.2 billion worth of STRC.
Why the focus on STRC?
STRC are their preferred shares, which are supposed to trade at around $100. Over the summer and fall, the price dropped significantly (to around $75), so the company is actively buying them back to support the price and maintain investor interest, while reducing the number of shares outstanding and increasing dividend payments.
Currently, virtually all BTC purchases are funded by sales of regular MSTR shares (through the ATM program). Previously, STRC was the main driver of accumulation—when it traded at a premium, the company actively issued it and used the proceeds to buy Bitcoin.
Most likely, they will continue to support STRC for some time and keep it around $100. But closer to spring 2027, once the instrument stabilizes, they may resume more aggressive BTC purchases funded by new STRC offerings.
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