Strategy Slows Bitcoin Buying as New Stock Offering Takes Priority

     

Saylor’s firm reports no BTC purchases last week amid focus on $2.5B equity raise

Strategy, the world’s largest corporate Bitcoin holder led by Michael Saylor, paused its BTC purchases last week, marking the second buying gap in July. Despite Bitcoin’s price rising from $118,000 to over $119,000, the company held steady at 607,770 BTC, according to its latest SEC filing.

The inactivity comes just weeks after Bitcoin hit fresh all-time highs, surprising some investors used to Strategy’s regular accumulation. It also follows a reported 80,000 BTC sale by an early investor that added volatility to the market.

Strategy cuts monthly Bitcoin purchases by nearly 40%

Strategy acquired 10,445 BTC in July – a 39% drop from June’s 17,075 BTC. The firm reported only two purchases during the month: 4,225 BTC on July 14 and 6,220 BTC on July 21.

In contrast, the company was much more aggressive in the spring, acquiring 26,695 BTC in May and 25,370 BTC in April. The recent slowdown mirrors a similar pause seen during the first week of April, suggesting a strategic shift in timing or priorities.

Equity raise overshadows Bitcoin buys

While Strategy pulled back on BTC buys, it significantly expanded its capital-raising efforts. Last Friday, the firm upsized its STRC (Series A perpetual stretch preferred stock) offering from $500 million to $2.521 billion. Priced at $90 per share, the deal is expected to close on Tuesday, pending standard conditions.

The Bitcoin Defense Department pic.twitter.com/fT9l35Vhuh

— Michael Saylor (@saylor) July 23, 2025

STRC is part of a broader equity strategy designed to fund Bitcoin purchases over time. The program follows other offerings like STRK and represents what Saylor recently called a “The Bitcoin Defense Department” on X.

This shift signals that Strategy may be reloading its war chest before its next major accumulation round, as it continues to blend equity instruments with long-term Bitcoin conviction.