Michael Saylor’s MSTR Didn't Buy A Single Bitcoin This Week – Here's What It Did Instead

• Michael Saylor-backed Strategy did not purchase or sell any Bitcoin during the week, leaving its holdings unchanged at 843,775 BTC.
• Rather than buying additional Bitcoin, Strategy directed the proceeds to its USD Reserve, which has grown to roughly $3 billion.
• MSTR stock fell more than 3% in pre-market trade while Bitcoin dropped below $63,000.

Shares of Michael Saylor-backed Strategy (MSTR) tumbled in pre-market trading on Monday after the company announced it didn’t buy a single Bitcoin (BTC) this week, nor did it sell any. Instead, it raised money the old-fashioned way by selling its common stock and adding to its USD Reserve. 

In its filing with the Securities and Exchange Commission (SEC), the company said it sold 4.82 million shares of MSTR Class A common stock under its at-the-market (ATM) offering program, generating $466.7 million in net proceeds. 

That capital didn't go toward new Bitcoin purchases, and all four of its preferred stock offerings, STRF, STRC, STRK, and STRD, saw zero sales activity for the week. Instead, the money went towards its USD Reserve, the cash cushion the company maintains to cover preferred stock dividends and interest on debt, which stood at $3 billion. 

MSTR Stock Falls Alongside Bitcoin

MSTR’s stock fell over 3% in pre-market trade amid broader weakness in equities and cryptocurrencies. On Stocktwits, retail sentiment around the company dipped to ‘bearish’ from ‘neutral’ territory over the past day, while chatter remained at ‘low’ levels. 

Many users on Stocktwits forecast that MSTR’s stock will likely drop further amid Bitcoin's weakness. BTC’s price fell nearly 2% in the last 24 hours, falling below $63,000 on Monday morning. Retail sentiment around the apex cryptocurrency also deteriorated, falling to ‘bearish’ from ‘neutral’ territory over the past day. Chatter stayed at ‘low’ levels. 

Bitcoin Treasury Strategy Remains In Focus

With no purchases or sales recorded, Strategy's Bitcoin holdings remain unchanged at 843,775 BTC after the company offloaded over 3,500 BTC last week, spurring concerns around the pivot from its “never sell” narrative.

MSTR’s stock has fallen nearly 40% this year, while Bitcoin’s price has tumbled almost 30%. 

Read also: Bitcoin-MSTR Panic Is ‘Mostly Noise’ – BTC A ‘Screaming Buy’ At $64K, Says Standard Chartered

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