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Strategy pauses Bitcoin purchases as financing conditions tighten and corporate flows stall
Strategy reported no purchases of Bitcoin over the past week, marking the first pause in its weekly accumulation since December 2025. The update, filed via Form 8-K, ends a 13-week streak of continuous buying that had become a closely watched indicator of corporate demand.
The company confirmed it did not issue shares through its at-the-market program and did not acquire additional BTC during the reporting period. As of March 29, Strategy held approximately 762,099 BTC, acquired for a total of $57.69 billion at an average price of about $75,694 per coin.
Financing structure under pressure
The pause comes as the company continues to rely on a multi-layered capital strategy, alternating between common stock, preferred shares, and debt issuance depending on investor demand.
Its latest capital plan outlines a $42 billion structure split evenly between Class A common stock and perpetual preferred shares. Preferred instruments offering 11.5% yield are positioned as a key financing component.
However, market conditions have tightened access to capital. Strategy’s common shares have fallen more than 70% from late-2024 highs, while preferred shares are trading below their $100 par value.
Corporate Bitcoin accumulation slows sharply
Strategy’s pause coincides with a broader slowdown in corporate Bitcoin accumulation. According to SoSoValue, net purchases by public companies dropped 99.93% week-over-week, with only 1 BTC added during the period.
Other regular buyers have also stepped back. Metaplanet recorded its eleventh consecutive week without purchases, while Strategy announced none. The only reported buyer was BHODL, which acquired 1 BTC worth $72,832.
Despite reduced activity, public companies still hold about 1,023,333 BTC — roughly 5.1% of circulating supply. However, weekly growth has nearly stalled, reflecting limited capital inflows under current conditions.
Metaplanet shifts strategy
Separately, Metaplanet announced plans to launch the Metaplanet Card — a shareholder-exclusive credit card offering 1.6% cashback in Bitcoin. The product is expected to launch in summer 2026.
The company currently holds over 35,000 BTC and is pursuing an alternative accumulation model — leveraging consumer spending flows rather than direct market purchases.
See also: "Bitcoin ETFs rebound with $69M inflows, while Ethereum breaks its losing streak"
