Michael Saylor has ended a streak of thirteen consecutive weekly Bitcoin purchases, Bloomberg reported. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Strategy did not execute a single transaction over the past seven days.
The pause came immediately after the company announced an ambitious plan to raise $42.000 B for additional purchases of digital gold.
Funding Model Under Pressure
Saylor’s financial model is built on issuing debt and equity instruments whose returns are tied to Bitcoin’s performance. Over the reporting week, the asset declined by 2.4%, complicating plans to issue $42.000 B in securities. The preferred shares Stretch, offering an annual yield of 11.5%, were trading below par, limiting the inflow of fresh liquidity.
The situation is further complicated by the company’s common stock, widely seen by the market as a proxy for Bitcoin, falling alongside the asset. Last week alone, the shares dropped by up to 10%, and the total decline from the 2024 peak now exceeds 70%. This raises concerns about the sustainability of a model where new purchases depend heavily on investor confidence.
What Remains on the Balance Sheet
Strategy currently holds more than 762,000 bitcoins worth approximately $52.000 B. The average purchase price stands at $75,700, above current market levels of around $68,000. For the strategy to remain effective, the asset must appreciate faster than the company’s liabilities grow.
Currently, Bitcoin is trading about 40% below its all-time high of $126,000, recorded in October 2025.
Company representatives have not commented on the shift in strategy.