MicroStrategy sold $544.5 million worth of its own shares last week, bringing its total USD cash reserve to $3.75 billion. The company simultaneously repurchased $25 million of its STRC preferred shares. This marks the fifth straight week the firm has raised capital without deploying any of it into Bitcoin.
MicroStrategy's Bitcoin accumulation has been one of the most visible demand signals in the crypto market, and five consecutive weeks of inaction breaks a pattern the market has priced in. Investors holding MSTR as a leveraged Bitcoin proxy should note the company is building cash rather than buying the asset. If this pause extends, the premium MSTR trades at over its Bitcoin holdings is harder to justify.
Next MSTR weekly filing or 8-K disclosure (rolling, check Monday-Tuesday). Bitcoin price action through the weekend as a sentiment gauge. Any MicroStrategy press release or investor communication addressing the pause.
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