Strategy (formerly MicroStrategy) has begun buying back its STRC preferred stock as the Bitcoin treasury company shifts more capital toward supporting its financing structure. In a July 27 SEC update, Strategy said it purchased 288,930 STRC shares for $25 million between July 20 and July 26, marking the first disclosed use of a $1 billion […]
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Strategy’s Bitcoin holdings have fallen roughly $12 billion below their purchase cost, placing the company’s capital-raising model under its sharpest pressure since it accelerated its Bitcoin treasury strategy. The company held 847,363 Bitcoin as of June 21, acquired for an aggregate $64.1 billion at an average price of $75,651. With the top crypto recently trading […]
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Anchorage Digital’s latest analysis shows Bitcoin options traders remain defensive as near-term uncertainty persists, though markets are not pricing an extreme downside scenario for Strategy.
Strategy's cash reserves are now enough to pay only 14 months of dividends from the previous seven-year level. CryptoQuant said the company should pause Bitcoin purchases and rebuild its reserves.
Strategy’s cash reserve is down 38% as dividend obligations near $1.2 billion, raising dilution risk for MSTR shareholders.
The Swedish health-tech company moved closer to becoming one of Europe's largest publicly traded Bitcoin treasury firms after shareholders approved a key condition for its planned acquisition of two Norwegian investment companies.
Michael Saylor’s Strategy boosted its USD Reserve to $1.4 billion and added 520 Bitcoin, funded through $335.5 million in MSTR share sales.
STRC’s slide below par has emboldened critics, slowed Strategy’s Bitcoin buys and sparked debate over whether Michael Saylor’s BTC flywheel is still fine.
“It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC,” said 10x Research’s Markus Thielen.
Michael Saylor says Bitcoin does not need staking or inflation, outlining a five-layer “Digital Asset Stack” that generates returns through credit and equity products built around BTC.
Strategy acquired 1,587 Bitcoin for $100 million last week, lifting holdings to 846,842 BTC after raising $209 million through MSTR stock sales.
Standard Chartered’s Geoff Kendrick tells clients “winter is over” as the analyst said crypto prices have likely seen the low for the cycle, ahead of Strategy’s Bitcoin purchase update.
Bitcoin’s latest upward move has sparked debate among market participants, and some believe the rally may have little to do with the purchase announcement that received the most attention. While the acquisition is generally viewed as constructive for the broader market, it is not necessarily the type of development that would justify a significant upward move in Bitcoin price. Why The Latest Purchase May Not Be Driving Bitcoin Rally The Bitcoin’s recent move higher is being misinterpreted as a direct reaction to purchase news, when in reality the drivers appear to be more technical in nature. Crypto analyst Aylo has explained on X that the BTC bounce is likely the result of an oversold market finding relief after sweeping key February lows. Related Reading: Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next? Another factor supporting the move higher is the easing of concerns surrounding Strategy and its Bitcoin holdings. The company’s recent sale of a relatively small 32 BTC sparked fears that it could become a larger seller in the future. Aylo suggests that while the current low may hold in the near term, it remains plausible that BTC could form a slightly lower low in June before a rally, particularly if the broader equity markets experience further weakness. Any deeper stock market shakeout could temporarily drag the price lower before a more sustained recovery begins. This level will be temporary before Bitcoin sees a low later in the year. Furthermore, the fear that Michael Saylor and Strategy may be forced to liquidate a significant portion of their BTC holdings is likely overstated. The company may need to sell limited amounts to meet specific obligations, but the narrative that a major liquidation event from their supply will be driven more by bearish sentiment. What The Recent Breakdown Could Mean For The Market Bitcoin’s recent price action appears to be following a market structure that has played out before during previous corrective phases. A crypto trader known as Max Trades pointed out that roughly a month ago, BTC was entering a distribution phase of this pattern, and the outlook has since played out with notable accuracy. Related Reading: Bitcoin’s Market Structure Reflects The Influence Of Major Investors In this bear market, BTC first formed an accumulation range, where price consolidated before breaking higher and sweeping out the liquidity above the previous highs. However, instead of continuing its upward trajectory, the asset price has transitioned into distribution. Since then, BTC has experienced a significant decline, falling more than 20% from its previous highs. According to Max Trades, what makes the current setup particularly noteworthy is the comparison to a previous distribution phase that ultimately resulted in substantially deeper downside after the initial breakdown. If the current structure continues to mirror that historical pattern, it could imply that the recent decline is not yet complete. Featured image from Pixabay, chart from Tradingview.com
Capital rotation into artificial intelligence may have played a bigger role in Bitcoin’s latest selloff than most market watchers initially assumed. Michael Saylor, whose company Strategy recently sold a portion of its Bitcoin holdings, pushed back on criticism and pointed instead to an unprecedented flow of money into AI infrastructure as a key factor behind the drop. Related Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy Saylor Pushes Back On Blame Strategy’s Bitcoin sale briefly made Saylor a target. TV personality Jim Cramer went as far as to say Saylor had “murdered Bitcoin,” a claim Saylor denied outright. He argued that capital markets have been funding the AI buildout at historic scale — roughly $400 billion over six months — and that the pressure on Bitcoin was a rotation of capital, not a sign of structural damage to the asset. SBI Holdings Chair Yoshitaka Kitao echoed that view, pointing to the upcoming IPOs of SpaceX, Anthropic, and OpenAI as likely draws pulling money away from crypto. Jobs Data Delivers The Blow The immediate trigger, however, was a US jobs report that caught markets off guard. The Bureau of Labor Statistics reported non-farm payrolls rose to 172,000 in May 2026, more than double the Wall Street estimate of 85,000. The unemployment rate held steady at 4.3%. That reading spooked investors. BNP Paribas said the data opens the door to as many as three Federal Reserve rate hikes, a scenario that historically weighs on risk assets like Bitcoin. From $62,500, BTC fell sharply to around $59,000 following the release. At the time of reporting, Bitcoin was trading at $59,990, down 6% in 24 hours — its lowest price since October 2024. ETF Outflows Add To The Pressure Spot Bitcoin ETFs have now recorded 14 consecutive sessions of outflows, with cumulative negative flows approaching $5 billion. Bitget CEO Gracy Chen identified those outflows as a significant factor in the broader crypto market decline. 那个说过卖肾不卖币的男人终于都卖币了 现货ETF连续13天净流出，累计$43.7亿，是历史最长连续流出纪录 BTC跌穿了月线EMA50支撑的$65K 我不是在看空。我只是觉得，该说的风险不能装没看见。… https://t.co/Sj0Y8zanys pic.twitter.com/2f0QxTKJYM — Gracy Chen @Bitget (@GracyBitget) June 4, 2026 On Friday alone, Bitcoin saw $545 million in total liquidations, according to CoinGlass data. Long positions accounted for $444 million of that figure, meaning a wave of automated selling hit the market as prices fell through key levels, compounding the downward move. Related Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For Confirmation Whether the $59,000 zone holds as support remains to be seen. The combination of macro pressure, sustained ETF redemptions, and shifting capital flows has left the market on edge. Featured image from Unsplash, chart from TradingView
Crypto pundit Ash Crypto has drawn attention to speculations about how institutions could be crashing the Bitcoin price on purpose. This comes as the Bitcoin ETFs continue to record massive outflows, which have caused this latest decline for the leading crypto. Pundit Highlights Speculations Of Institutions Purposely Crashing Bitcoin Price In an X post, Ash Crypto claimed there were rumors that institutions are purposely crashing the Bitcoin price so they can buy at lower prices before the Clarity Act is signed into law. The pundit noted that a similar pattern had played out in August 2022, when BlackRock filed for a private Bitcoin trust, and BTC later dropped about 36% before forming a bottom. Related Reading: What To Expect For The Bitcoin Price By EOY 2026 Following that, BlackRock then filed for a spot Bitcoin ETF, and the Bitcoin price later surged by 95%. Ash Crypto noted that BTC hit a new high in January 2024, when spot ETFs were approved. He added that insider institutions are repeating the same strategy with the Clarity Act narrative. The Bitcoin ETFs have largely contributed to the decline in the Bitcoin price, with these funds recording outflows in 13 out of the last 14 trading days. During this period, their total net assets have dropped from around $104 billion to $82 billion. Strategy co-founder Michael Saylor also cited these outflows in his comments on the BTC crash. In an X post, Saylor said that the capital markets are funding the AI buildout at a historic scale, with $400 billion deployed over six months, while BTC ETFs have seen $4 billion in outflows since May 14, pressuring the Bitcoin price. He declared that this is a capital rotation, not a BTC impairment, while adding that volatility creates opportunity. BTC Simply Following The Four-Year Cycle Crypto analyst Benjamin Cowen has reiterated that the Bitcoin price is simply following the four-year cycle. He also mentioned that the bull case for BTC is that if the economy is still doing well after the four-cycle low is put in, then it should have no problem starting its next bull market. Based on historical trends, the bear cycle low could happen by the fourth quarter of this year. Related Reading: Has The Bitcoin Crash Ended After Falling Below $70,000? Meanwhile, Cowen noted that midterm years always feel really bad for crypto, and that this one is even worse, since the Bitcoin price topped on apathy. He opined that Bitcoin will survive, although many crypto assets may die out. Crypto analyst Ali Martinez warned that BTC is not looking good at the moment and that the leading crypto could drop to the next major area of support between $54,000 and $50,000. At the time of writing, the Bitcoin price is trading at around $63,100, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Pngtree, chart from Tradingview.com
Bitcoin spot ETFs have now recorded net outflows in 17 of the last 19 days, with investors pulling a combined $5.6 billion from the products during that stretch. Taking Stock Of The Damage The numbers have pushed year-to-date flows for US-traded Bitcoin ETFs into negative territory, landing at negative $2.17 billion. Bloomberg ETF analyst James Seyffart put the 13-day outflow streak in sharper relief, reporting that roughly $4.4 billion worth of Bitcoin was sold through those products over the past month alone. Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst Since May 14, Bitcoin has fallen about 20%, dropping from $82,040 to around $64,000. The slide accelerated after Strategy, the business intelligence firm led by executive chairman Michael Saylor, disclosed it had sold 32 BTC for approximately $2.5 million — a small fraction of its total holdings, but enough to rattle sentiment across the broader market. Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since May 14, pressuring $BTC. This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity. — Michael Saylor (@saylor) June 4, 2026 Saylor Points To AI Spending As The Culprit Saylor took to X on Thursday to offer his explanation for the drop. Capital markets are funding artificial intelligence infrastructure at what he described as a historic scale, drawing money away from Bitcoin and other assets in the process. According to Saylor, more than $400 billion has been directed into AI-related investments over the past six months, with major Wall Street institutions joining the push. That flood of capital, he argued, is behind the outflows hitting Bitcoin ETFs — not any fundamental weakness in Bitcoin itself. He framed the pullback as a buying window. “Volatility creates opportunity,” Saylor said. Silver Linings Remain Not every fund has been caught in the tide. The BlackRock iShares Bitcoin Trust and Grayscale’s Mini Bitcoin Trust have both held onto positive flows since January 1, reports indicate. Across all US-traded Bitcoin spot ETFs, the cumulative lifetime net inflow still stands at roughly $54 billion — a figure that reflects sustained demand since the products launched just over two years ago. Related Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy The overall picture is one of short-term stress against a backdrop of longer-term capital commitment. Whether the AI spending wave continues to crowd out Bitcoin investment, or whether the two can attract separate pools of money, remains an open question. Featured image from Pexels, chart from TradingView
The Bitcoin price has suffered a significant crash, falling from above the psychological $70,000 this week. Crypto pundit Nobler cited why the leading crypto was crashing, while analyst Chiefy revealed what to expect next from BTC. Why The Bitcoin Price Is Crashing In an X post, Nobler revealed that the USDT issuer Tether was liquidating some of its BTC holdings, which was contributing to the Bitcoin price crash. He noted that this was the first time they had sold directly from their BTC reserve wallet. The pundit added that things were not looking good for crypto. Related Reading: Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000 On-chain data showed that Tether moved 204 BTC from its wallet to the Bitfinex exchange, sparking concerns of a sell-off. Tether is among a host of entities believed to have dumped BTC recently, sparking the Bitcoin price crash. The defunct crypto exchange Mt. Gox also transferred 10,422 BTC, worth almost $740 million. Furthermore, Bitcoin ETFs are contributing to the massive sell-off in BTC, with these funds on a 12-day streak of net outflows. They recorded a net outflow of $519 million yesterday, according to SoSoValue data. During these 12 days, these funds also recorded a net outflow of $733 million on May 27. Meanwhile, it is worth noting that the Bitcoin price crash began earlier this week, as Michael Saylor’s Strategy revealed in its SEC filing that it had sold 32 BTC. This was the first time that the Bitcoin treasury firm had sold BTC since 2022. This has raised concerns about what this could mean and how much more BTC the company could sell moving forward. The Bitcoin price has also crashed due to macro factors such as the U.S.-Iran war, with a peace deal looking unlikely anytime soon. BTC is also battling for liquidity amid upcoming IPOs, such as Elon Musk’s SpaceX, which is expected to go public this year. What Is Next For BTC In an X post, crypto analyst Chiefy, who had predicted the Bitcoin price crash to $67,000, revealed what is next for BTC. He stated that a relief bounce would come next, giving market participants false hope before an even bigger leg down. The analyst added that structurally, this is one of the weakest setups that BTC has seen in this bear cycle. The analyst’s accompanying chart showed that the Bitcoin price could still crash to as low as $60,000, reaching its February low. Crypto analyst Tony echoed a similar sentiment, predicting that BTC could still drop to $60,000, although he expects a short-term relief bounce. Related Reading: Bitcoin Trend That Has Held For 15 Years Shows When To Expect The Bottom And When $400,000 Will Happen At the time of writing, the Bitcoin price is trading at around $66,700, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
Bitcoin has slipped below $72,000, triggering fresh concerns across the market after Strategy reported its first BTC sale in years. The development quickly attracted attention across the crypto market, as the company led by Michael Saylor has long been viewed as one of BTC’s most committed corporate holders. Strategy’s Massive Bitcoin Stockpile Continues To Dominate Headlines Bitcoin has dropped below the $72,000 level after confirmation that Michael Saylor’s Strategy has executed its first BTC sale in over three and a half years. An analyst known as Bull Theory on X highlighted that the reported sale involved just 32 BTC, valued at approximately $2.5 million, a relatively small transaction compared to Strategy’s massive holdings. Related Reading: Strategy Sells Bitcoin For First Time Since 2022 Tax-Loss Trade Historically, the company has demonstrated a similar approach. In December 2022, Strategy sold 704 BTC to realize a tax loss, only to repurchase 810 BTC just two days later. Earlier last month, Saylor stated that Strategy could sell portions of its BTC holdings to fund dividends. However, he emphasized a net accumulation model, mentioning that the firm intends to buy 20 BTC for every 1 BTC sold. Despite the recent sale, Strategy still holds 843,706 BTC on its balance sheet, representing roughly 4% of BTC’s total supply acquired at a total cost of $63,86 billion. Bitcoin’s recent price action continues to show signs of underlying weakness despite persistent optimism in the derivatives market. Crypto analyst Max Trades has noted that while BTC has been unable to establish a convincing recovery, funding rates remain highly positive, indicating that many perpetual futures traders are still positioning for upside. At the same time, open interest has begun to rise significantly as soon as the markets reopened, signaling that new leveraged positions are entering the market despite the recent sell-off. What adds further pressure to the current setup is that spot has started selling after briefly stabilizing over the weekend. While BTC spot pressure is trending downward, perpetual futures traders continue to lean aggressively long. In the current environment, the market still appears increasingly dependent on perpetual while spot demand remains absent. As long as the setup continues reliance on leveraged long exposure, a stronger recovery case will likely require a return of consistent spot demand. Market Structure Weakens As Bitcoin Loses A Major Support Zone Bitcoin has delivered a technically significant signal by closing the month below its 2024 all-time high level. According to crypto investor Rekt Capital, on the first day of June, price action has already shown initial signs of turning 2024 into a new resistance year. Related Reading: Bitcoin Recovery Rally Or Bull Trap? These Key Levels Hold The Answer Rekt Capital argues that unless BTC reclaims the 2024 all-time high, the sequence of technical events will increase the chance of BTC revisiting the 2021 all-time highs for a retest. Featured image from Pixabay, chart from Tradingview.com
Crypto analyst Aralez has revealed that Bitcoin is entering an accumulation zone that could propel it to a new all-time high (ATH). The analyst signaled that BTC could rally to as high as $250,000 in the next bull market. Analyst Reveals Bitcoin Entering Major Accumulation Zone In an X post, Aralez stated that Bitcoin is near a major accumulation zone, with BTC following a similar script to past bear market cycles. He noted that the leading crypto saw losses of 87%, 84%, and 77.5% from its cycle highs in 2013, 2017, and 2021, respectively. Now, Bitcoin is down around 42% from its October 2025 high of $126,000. Related Reading: Bitcoin Is Still Following This Descending Channel Pattern And The Endgame Shows The Bottom The analyst’s accompanying chart showed that Bitcoin could bottom around $40,000 in this bear market before it then rallies to a new all-time high in the next bull run. The bottom is expected to happen between now and the start of next year. Meanwhile, the chart also showed that BTC could rally to as high as $250,000 by 2029. Aralez’s analysis comes amid Bitcoin’s recent decline, with the leading crypto dropping below $71,000 and now at risk of dropping below the psychological $70,000 level. The latest decline came as Michael Saylor’s Strategy announced that they sold 32 BTC. This was the first time that the largest Bitcoin treasury firm has sold BTC since 2022, when it sold for a tax-loss harvesting transaction. At the same time, a U.S.-Iran peace deal is looking unlikely anytime soon, which is also bearish for Bitcoin. Iran had suspended negotiations with the U.S. over ceasefire violations, which caused BTC to drop below $71,000. The leading crypto also failed to record any notable bounce, even as U.S. President Donald Trump said that negotiations were still ongoing. BTC Breaks 4-Month Ascending Channel In another X post, Aralez revealed that Bitcoin had just broken a 4-month ascending channel and that it had lost a key support after testing the $70,000 zone. The analyst then outlined what he expects next from BTC’s price action, with an acceptance below $73,000 happening and then a liquidity sweep around $70,000. Related Reading: Bitcoin Enters Buy Zone That Previously Led To A 660% And 1,700% Rally The analyst further stated that a relief bounce could follow, with a retest near $74,000, then a move lower towards $65,000, $60,000, and finally $58,000. He also warned that a mini rally is likely over and that the broader trend still points toward new local lows. Aralez added that there may be short-term bounces, but expecting a fresh push above $83,000 could be costly. At the time of writing, the Bitcoin price is trading at around $70,500, down over 3%, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
Strategy sold a small portion of its Bitcoin holdings last week, marking the company’s first disclosed BTC sale since its December 2022 tax-loss harvesting transaction. The sale is notable less for its size than for what it signals: Strategy is now willing to use a sliver of its Bitcoin stack to service the preferred equity structure it has built around its balance sheet. According to a Form 8-K filed with the US Securities and Exchange Commission, Strategy sold 32 BTC between May 26 and May 31 for roughly $2.5 million. The average sale price was $77,135 per bitcoin, net of fees and expenses. The company said proceeds from the sale are expected to be used to fund distributions on preferred stock. Why Did Strategy Sell Bitcoin? The transaction is the first Bitcoin sale disclosed by Strategy since December 2022, when the company sold 704 BTC for tax-loss harvesting purposes before buying back more bitcoin two days later. That earlier sale was widely framed as a tax maneuver rather than a strategic reduction in exposure. The new sale is different in character: it appears tied to preferred stock obligations rather than portfolio tax management. Related Reading: Bitcoin Short-Term Holders Move 107,760 BTC In A Single Day — Details Strategy’s Bitcoin position remains enormous. As of May 31, the company held 843,706 BTC acquired for an aggregate purchase price of $63.87 billion, implying an average purchase price of $75,699 per bitcoin. Against that position, the 32 BTC sale represents a negligible reduction in headline holdings, but it still breaks a long-running pattern in which Strategy’s Bitcoin disclosures were almost exclusively about accumulation. The filing also shows that Strategy continued using its capital markets machinery during the same period. Between May 26 and May 31, the company sold 801,994 shares of MSTR common stock under its at-the-market program, generating $128.3 million in net proceeds. As of May 31, Strategy listed $26.137 billion of remaining available issuance capacity for MSTR stock, alongside remaining preferred stock issuance capacity of $1.619 billion for STRF, $17.511 billion for STRC, $2.1 billion for STRK and $4.015 billion for STRD. The Bitcoin sale lands against the backdrop of recent comments from Executive Chairman Michael Saylor and CEO Phong Le, who have both signaled in recent weeks that Strategy could sell BTC under certain circumstances. Saylor, however, has also emphasized that the company expects to buy more bitcoin than it sells, keeping the market focused on whether any isolated sale is offset by larger accumulation. Related Reading: Bitcoin Trend That Has Held For 15 Years Shows When To Expect The Bottom And When $400,000 Will Happen That question remains open for the latest reporting period. On May 31, Saylor posted on X: “Working ₿etter.” The phrase appeared to tease another purchase, consistent with his usual cadence before formal Strategy updates. But no corresponding buy announcement had been made public at press time, leaving investors to wait for confirmation on whether the company bought more BTC than it sold during the period. Strategy also disclosed that its US dollar reserve stood at $900 million as of May 31. The reserve, announced in December 2025, is a management-designated liquidity pool intended to support dividends on preferred stock and interest payments on outstanding debt. That reserve matters because it sits at the center of the company’s newer capital structure: Strategy has layered preferred equity, common stock issuance and Bitcoin holdings into a balance-sheet model that depends on continued access to liquidity. The company’s board declared cash dividends payable on June 30 to holders of record as of June 15. The declared payments include $2.50 per share for STRF, $0.958333333 per share for STRC, €2.50 per share for STRE, $2.00 per share for STRK and $2.50 per share for STRD. Strategy also said the regular dividend rate on its variable-rate Series A Perpetual Stretch Preferred Stock, STRC, would remain at 11.50% per annum for monthly periods beginning on or after June 1. At press time, BTC traded at $71,637. Featured image created with DALL.E, chart from TradingView.com
Michael Saylor is calling $60,000 Bitcoin’s floor. The Strategy co-founder made the claim during a Thursday appearance on CNBC’s Squawk Box, saying the asset is now entering what he described as a “spring phase” — backed by solid support levels and a favorable broader market environment. Related Reading: Zcash Soars 88% In 30 Days: Is ZEC The Stealth Winner Of This Crypto Cycle? A Target Built On Bold Math Saylor’s confidence ties back to a specific projection he has held for some time: a 30% average annual return for Bitcoin. That number forms the backbone of his prediction that Bitcoin will hit $13 million by 2045, a figure he arrived at by modeling a 29% yearly return sustained over roughly 19 years. Among the forces he expects to drive that growth are institutional adoption, government-level treasury strategy, and Bitcoin’s fixed supply — factors he believes will pull capital away from gold and traditional financial markets. $MSTR Co-Founder @saylor explains why he thinks $BTC will outperform the S&P 500 over time:https://t.co/REOnScJVPZ — Squawk Box (@SquawkCNBC) May 21, 2026 The S&P 500, one of the most closely watched benchmarks in global finance, tracks 500 of the largest publicly traded companies in the US. It has delivered an average annual return of around 10%, making it a reliable standby for investors who want steady, long-term growth. Saylor is betting Bitcoin can do triple that — a claim he repeated plainly on Squawk Box: “We expect 30%.” Numbers Tell A Complicated Story The current numbers don’t immediately support his case. As of the time of his interview, Bitcoin was down 12% for the year while the S&P 500 had gained 8%, according to Google Finance. Saylor has long maintained that short-term swings don’t define Bitcoin’s trajectory, and he reiterated that position Thursday, pointing instead to what he sees as a building wave of regulatory and institutional support. Among the specific developments he cited was the CLARITY Act, which cleared the US Senate Banking Committee last week with bipartisan support after months of delays. He also pointed to upcoming innovation exemption guidelines from the US Securities and Exchange Commission aimed at allowing securities tokenization on crypto networks, calling it a potentially major development for the industry. Related Reading: Analyst Warns XRP Could ‘Shake Out’ Traders Before Major Breakout Looking Ahead To A Bigger Market Share Saylor has made similar predictions before. Earlier this year, he said Bitcoin would double or triple the S&P 500’s returns over the next four to eight years. His longer-range view sees Bitcoin eventually overtaking gold in total market value by 2035, pulling in fresh capital that was previously locked in conventional assets. Featured image from Unsplash, chart from TradingView
Strategy’s Bitcoin playbook is no longer just about buying dips. The company has turned its balance sheet into a capital machine built around one main objective of increasing the amount of Bitcoin it controls without weakening the amount of Bitcoin attached to each share. Recent filings by the company now show that it is planning to repurchase $1.5 billion principal amount of 2029 convertible notes. Strategy Is Getting Closer To 1,000,000 Bitcoin Strategy’s latest reported Bitcoin reserve shows how far the company’s accumulation strategy has come. The firm’s Bitcoin purchase page lists 843,738 BTC, acquired at an average cost of $75,700 per Bitcoin. Related Reading: Strategy Overtakes BlackRock’s Bitcoin Holdings, But Is Saylor Done Buying? This means Strategy now controls about 4.02% of Bitcoin’s fixed 21 million supply. The 1,000,000 BTC threshold would raise that share to about 4.76%, making Strategy one of the most important single holders in the Bitcoin market. At the current level, the company does not need to double its holdings. It needs to add about 18.5% more Bitcoin to cross the 1,000,000 BTC line. The pace of buying has also increased in 2026. Strategy said it held 818,334 BTC as of May 3, 2026, representing 22% growth year-to-date, and said it had raised $11.68 billion year-to-date at that point. Less than three weeks later, the company has bought another $2 billion worth of Bitcoin, lifting its holdings to 843,738 BTC. Strategy Repurchasing Convertible Notes Strategy’s path to acquiring 1,000,000 BTC depends on its ability to keep raising capital without damaging the value of its Bitcoin per share. Strategy sells financial instruments like convertible notes to investors who want exposure to its Bitcoin structure, then uses the proceeds to buy more Bitcoin. Related Reading: Analyst Says Avoid Bitcoin At All Costs; Here’s What To Do Instead As 50% Crash Looms If the Bitcoin added is worth more per share than the dilution or cost created by the financing, the company can report a positive Bitcoin yield. At the time of writing, Strategy has a Bitcoin year-to-date yield of 12.6%. The recent plan to repurchase part of the 2029 convertible notes also fits into this larger strategy. Strategy recently revealed that it agreed to repurchase a $1.50 billion principal amount of its 0% convertible senior notes due 2029 for an estimated cash price of about $1.38 billion. The repurchased notes would be cancelled, leaving about $1.50 billion of the 2029 notes outstanding. This matters because convertible notes can become future shares. Strategy reduces the possibility that those notes will eventually increase the number of shares by repurchasing and canceling a portion of that tranche. That can help protect Bitcoin per share, which is central to the company’s long-term treasury. Strategy’s most recent BTC purchase was announced less than 24 hours ago, with the company adding 24,869 BTC for a total cost of $2.014 billion. Featured image from Getty Images, chart from Tradingview.com
Strategy now holds 818,869 Bitcoin, worth roughly $66 billion at current prices — a position that has become the largest corporate Bitcoin reserve anywhere in the world. That stockpile keeps growing, and the instrument fueling much of the buying just broke a record. Related Reading: Bitcoin Faces Major Test As 37% Recovery Collides With Bear Resistance A New Kind Of Funding Tool STRC, the company’s Variable Rate Series A Perpetual Stretch Preferred Stock, recorded $1.53 billion in trading volume on Thursday — the highest single-day figure it has ever posted. Chairman Michael Saylor announced the milestone on social media, calling it an all-time high in liquidity. The preferred stock, known informally as Stretch, has become Strategy’s go-to method for raising money to buy Bitcoin in 2026, stepping in as other funding channels have grown harder to access. Senior convertible notes and at-the-market equity offerings have both tightened over the past year, pushing the company toward preferred stock as its primary capital source. All-time high volume. $1.53B of liquidity. Two cents of volatility. Closed at par. $STRC pic.twitter.com/aS0dSlkm7d — Michael Saylor (@saylor) May 14, 2026 Stretch works by paying investors an 11.5% dividend without touching the company’s common shares. That structure keeps existing shareholders from being diluted while still bringing in fresh capital. Based on data from the STRC.live tracker, Thursday’s trading performance could allow Strategy to raise an estimated $735 million — enough, in theory, to acquire around 9,066 Bitcoin. Whether the company will move forward with a purchase based on those funds remains unclear. The Broader Bitcoin Buying Spree Strategy’s pace of acquisition has picked up sharply. The company has bought 56,770 Bitcoin since April and more than 101,000 since March, bouncing back after a slow February. Bitcoin’s own price movement has helped the math: the recent rally to around $81,000 pushed above Strategy’s average purchase price of $75,543, putting its holdings up 7%. During a first-quarter earnings call on May 5, Saylor said he wants Stretch to become the largest credit instrument in the world. Reports indicate the company posted a $1.25 billion net loss in Q1 as Bitcoin fell during that period, though the situation has since shifted with the price recovery. Strategy is not alone in using this type of structure. Strive announced Thursday that holders of its own preferred stock, SATA, would begin receiving daily dividends starting June 16 — a faster payout schedule than the monthly distributions Stretch offers. Tokyo-based Metaplanet has also raised funds through preferred stock instruments called MARS and MERCURY to buy Bitcoin. Related Reading: XRP Holders Put On Alert As David Schwartz Flags Dangerous New Scam A Crowded Field With One Giant Nearly 200 public companies now hold Bitcoin on their balance sheets. Strategy remains far ahead of all of them. Its 818,869-coin position dwarfs every other corporate holder, and the company shows no signs of slowing the accumulation. Preferred stock, for now, is the engine making that possible. Featured image from Free3D, chart from TradingView
Bitcoin has been seeing recurring mid-month strength this year, and it is becoming harder to separate it from Strategy’s (formerly MicroStrategy) expanding preferred-stock machine. The funding channel is helping the company continue to buy the flagship digital asset while adding a growing layer of cost to its balance sheet. Research firm K33 has tied the […]
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Peter Schiff thinks Strategy executive chairman and co-founder Michael Saylor is misleading retirees. The outspoken economist fired off a warning on X, asking how the SEC could allow Saylor to publicly describe STRC as suitable for retired investors whose main goals are low-risk wealth preservation and steady income. Related Reading: Shiba Inu Bullish Momentum Explodes As Buying Pressure Intensifies Schiff called it a violation of SEC antifraud and marketing rules. Strategy has not publicly responded to the criticism. A Preferred Stock Built Around Bitcoin The debate comes as Strategy pulled in over $206 million through its STRC perpetual preferred stock program. According to data from Bitcoin Treasuries’ ATM tracker on May 11, the company issued 2.12 million shares to generate those proceeds. At an average Bitcoin price of $81,471, that haul could buy roughly 2,536 BTC. The capital raise happened the same day Strategy announced it bought $43 million worth of Bitcoin — its first purchase after a one-week pause. The timing was no coincidence. STRC’s return to its $100 par value earlier in the session reopened the door for fresh share sales under the company’s at-the-money program. Trading volume told the story clearly. STRC recorded close to $445 million in daily volume on May 11, with the stock barely moving — it ranged from $99.99 to $100.01. That kind of price stability was the green light the program needed. How STRC Works The stock’s structure was designed by Saylor himself. Reports indicate STRC is built to hold steady at $100 per share, with dividend payouts that shift depending on where the stock trades. When the price dips below par, yields go up to pull investors back in. When shares trade at or above the target, the company can cut the payout and redirect capital toward Bitcoin purchases. STRC currently yields 11.5% annually, with the next ex-dividend date set for May 15. STRC had already shown signs of recovery on May 8, when it closed at $99.99 and climbed back to $100 in after-hours trading. Volume that day topped $218 million — a signal the stock was regaining footing before Monday’s full rebound. Related Reading: Nearly 80% Of Bitcoin Supply Hasn’t Moved As Long-Term Holders Tighten Grip Schiff’s Challenge Draws Attention Schiff’s objection cuts to a basic question about who STRC is for. The preferred stock is linked, at least indirectly, to Strategy’s ongoing Bitcoin accumulation strategy, which carries its own risks. That tension — between the stock’s structured, fixed-price design and the volatile asset it funds — sits at the center of the dispute. Strategy has built a model around raising equity capital and using the proceeds to buy Bitcoin. The STRC program is one of several instruments the company uses to keep that cycle running. With Monday’s raise added in, the machine is moving again. Featured image from Shutterstock, chart from TradingView
Strategy CEO Phong Le said last week that Bitcoin’s daily trading volume — averaging more than $60 billion — is large enough to absorb the company’s $1.5 billion in annual dividend payments without moving the market. Related Reading: Nearly 80% Of Bitcoin Supply Hasn’t Moved As Long-Term Holders Tighten Grip That comment preceded co-founder Michael Saylor’s latest post “Back to work, BTC” on X Sunday, a phrase he has used before to signal an imminent purchase. A Pattern That Repeats Strategy typically buys Bitcoin the day after Saylor posts that message. The company last bought on April 27, picking up 3,273 coins for around $255 million. That brought its total stash to 818,334 BTC, worth roughly $61.8 billion at the time of publication, according to data from Strategy’s own website. Its average purchase price per coin sits at about $75,537 — meaning the position is up around 7.6%. Back to work. $BTC pic.twitter.com/HLbBv5Sbbx — Michael Saylor (@saylor) May 10, 2026 The buying announcement follows a week-long pause Strategy took ahead of its first-quarter 2026 earnings call. During that call, Saylor said something that raised eyebrows: the company might sell some of its Bitcoin from time to time to fund dividends for holders of its credit instruments. For a company that had long held the position of never selling, that statement landed hard. Reactions From Both Sides Not everyone took it as bad news. Strategy investor Adam Livingston argued that periodic sales could actually benefit the treasury by helping finance future Bitcoin purchases. Bitcoin advocate Samson Mow said the ability to sell gives Strategy more flexibility in the financial markets. But others pushed back, warning that a company that both buys and sells Bitcoin at scale could create a cycle that puts downward pressure on the spot price. Le pushed back on that concern. He told CNBC that Strategy owns about 4% of Bitcoin’s total supply but said he does not believe the company drives prices in either direction. Sales, he said, would be limited to specific situations — covering dividend yields and deferring taxes. Related Reading: Swiss Bitcoin Reserve Effort Withdrawn After Resistance From Central Bank Clarifying The Scope Saylor offered his own framing during the earnings call. “We’ll probably sell some Bitcoin to fund a dividend, just to inoculate the market, just to send the message that we did it,” he said. That wording suggests the move is more about signaling than volume — a controlled, deliberate action rather than a broader shift in strategy. Whether markets read it that way remains to be seen. For now, based on Saylor’s Sunday post, another Bitcoin purchase appears to be coming. Featured image from Bitpanda, chart from TradingView
Strategy’s preferred equity instrument, STRC, has been trading below its $100 par value — a detail that has quietly drawn attention from investors watching the company’s ability to keep funding its Bitcoin purchases. RR Saturn Steps In As Questions Mount The company behind the Bitcoin treasury strategy recently attracted fresh capital despite the uncertainty. Saturn, a STRC-backed yield provider, put $18 million into STRC, bringing its total investment to $33 million. The move came even as critics questioned whether demand for the instrument is strong enough to sustain Strategy’s aggressive acquisition pace. STRC offers holders a monthly payout with an annual return of 11.5%, and the funds raised through it go directly toward buying more Bitcoin. Still, the stock sitting below par has prompted questions. An account tracking STRC activity posted online over the weekend, estimating that the past week saw roughly zero Bitcoin purchased. “What will Monday’s 8-K confirm?” the post asked. The ₿eat Goes On. pic.twitter.com/tBDs2z0b4z — Michael Saylor (@saylor) April 26, 2026 That question may already have an answer in the works. Saylor Posts The Orange Dots — Again On Sunday, April 26, Michael Saylor posted on X with a simple message: “The Beat Goes On.” Attached was Strategy’s so-called “Orange Dots” chart, a visual record of every Bitcoin purchase the company has made. Based on past trends, the post is widely read as a signal that another acquisition announcement is coming. Strategy now holds more than 815,000 Bitcoin. Last Monday, the company added to that total with a $2.54 billion purchase, cementing its position as the largest corporate holder of Bitcoin in the world. No other publicly traded company comes close. The title of Saylor’s post — “The Beat Goes On” — captures the tone he has maintained for years: steady accumulation, public signaling, and near-total indifference to critics. BTC Schiff Calls It A ‘Ponzi’ Scheme Peter Schiff, one of Bitcoin’s most vocal long-term critics, has been especially focused on STRC lately. He has called it “the most obvious Ponzi that has ever existed” and warned that the math behind the product doesn’t hold up under scrutiny. The claim that Bitcoin only has to rise by 2% per year to cover the 11.5% yield on $STRC indefinitely assumes $MSTR stops issuing STRC. But Saylor is actually increasing issuance. The more STRC MSTR sells, the more BTC must rise to cover the yield. Also, if the price of STRC… — Peter Schiff (@PeterSchiff) April 25, 2026 His argument centers on the relationship between STRC issuance and Bitcoin’s price growth. According to Schiff, the claim that Bitcoin only needs to rise 2% annually to cover STRC’s 11.5% yield assumes the company stops issuing more STRC. RR If issuance grows, the required rate of Bitcoin appreciation rises with it. He also warned Saylor of potential lawsuits, saying the product’s marketing could be considered misleading. Schiff sees only one exit from what he calls a death spiral — canceling the dividend. But he says that move would itself trigger steep losses across STRC, Strategy’s stock, and Bitcoin prices. Strategy has not publicly responded to Schiff’s claims. Saylor, for his part, appears unmoved. The orange dots keep getting added to the chart. Featured image from Gemini, chart from TradingView
Michael Saylor has signaled that Strategy, formerly MicroStrategy, may be preparing to buy more Bitcoin, reviving a pattern investors now treat as an early marker for another weekly treasury announcement. On April 19, the company’s executive chairman posted a screenshot of Strategy’s Bitcoin portfolio tracker on X with the phrase “Think Even ₿igger.” Historically, Saylor […]
The post How Strategy’s STRC could propel the Michael Saylor’s firm Bitcoin holdings past BlackRock’s IBIT this week appeared first on CryptoSlate.
Michael Saylor’s company has already lined up the money. Now the question is how much Bitcoin it plans to buy with it. Related Reading: Alibaba AI Model Puts XRP Price Between $7 And $42 By Year-End Saylor’s Signal Fires Up The Market Strategy’s executive chairman posted his well-known “Orange Dots” chart on X over the weekend, adding just three words: “Think even Bigger.” The chart maps every Bitcoin purchase the company has ever made. In crypto circles, its appearance has become a reliable preview of an imminent acquisition announcement — and Monday is the day Strategy most commonly makes those announcements public. The post landed after a string of major purchases. On April 13, Strategy spent $1 billion on Bitcoin. The week before that, it dropped $330 million. Both buying rounds were preceded by the same chart. This time, Saylor’s caption suggests the next move could top them both. A War Chest Already Sitting Ready The fuel for that purchase appears to already be in place. Strategy’s STRC instrument has raised enough capital to fund up to $1.76 billion in Bitcoin acquisitions, based on reports tracking the company’s fundraising activity. The company routinely uses proceeds from STRC to bankroll its Bitcoin buying program, so the timing of that capital raise lines up with the weekend post. At the time of writing, Strategy holds 780,897 Bitcoin across its corporate treasury. The company’s average purchase price sits at $75,577 per coin. At current market prices, the entire stash is valued at roughly $58 billion — a figure that would shift significantly with any large new purchase. Bitcoin Price Holds Flat Despite The News The market has not moved much on Saylor’s hint. Bitcoin was trading around $75,500, down less than 1% in the 24 hours following the post. Geopolitical pressure has been a drag on price action, with US President Donald Trump accusing Iran of violating ceasefire terms — a development that has kept risk appetite subdued across financial markets. Related Reading: XRP Expansion Into Solana Sparks Fresh Demand, Ripple CEO Says One signal watched closely by analysts did break out over the weekend, though. Bitcoin Dominance — the share of total crypto market value held by Bitcoin — pushed above a key resistance level on the three-day chart, clearing a descending trendline it had been stuck under for some time. Reports from crypto analysts indicate that if the breakout holds, more capital could rotate into Bitcoin at the expense of smaller coins. For Strategy’s playbook, that kind of market shift would not be unwelcome. Featured image from MetaAI, chart from TradingView
About 20% of the Bitcoin mining industry is operating at a loss right now. That single fact explains much of what has been unfolding across the sector in early 2026, as publicly traded miners race to sell off holdings just to keep the lights on. Related Reading: Bitcoin Rally Faces First Test At $76K As Sellers Step In: Analysts Profits Squeezed To The Bone Hashprice — the daily revenue a miner earns per unit of computing power — has been sliding since July 2025. It now sits at roughly $33 per petahash per second per day, according to data from Hashrate Index. The breakeven point for many miners, particularly those running older machines, is around $35. That gap, small as it looks on paper, is pushing a large chunk of the industry into the red. Major publicly traded miners — among them MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer — collectively offloaded more than 32,000 BTC during the first three months of 2026, according to TheEnergyMag. That figure eclipses everything those same companies sold across all four quarters of 2025. It also surpasses the previous quarterly record of roughly 20,000 BTC, set during Q2 2022 when the collapse of the Terra-Luna ecosystem sent markets into a tailspin. Three compounding forces drove miners to that record: a rising network hashrate that has made competition fiercer, reduced block rewards following the most recent halving, and broader economic headwinds that have kept Bitcoin prices under pressure. Miner Reserves Have Been Draining For Years The selling in Q1 2026 did not come out of nowhere. Data from CryptoQuant shows that total Bitcoin held by miners across the board has been falling since 2023. At the close of that year, miners collectively held more than 1.86 million BTC. That number has since dropped to approximately 1.8 million. The trend is slow but steady — and the first quarter’s record sales may have accelerated it further. Asset manager CoinShares, in its Q1 2026 Bitcoin Mining Report, warned that more pain could be coming. Higher-cost operators should expect continued capitulation in the first half of this year, the firm said, unless Bitcoin’s price stages a meaningful recovery. Think ₿igger. pic.twitter.com/L1yH3n0k7t — Michael Saylor (@saylor) April 12, 2026 Related Reading: ‘Extremely Good News’ – XRP DeFi Momentum Builds As SEC Softens Position On Interfaces Treasury Buyers Step In As Miners Step Back While miners sell, corporate buyers are moving in the opposite direction. Strategy, the largest Bitcoin treasury company by holdings, has continued adding to its position. Co-founder Michael Saylor signaled earlier this week that another purchase was in the works, sharing the company’s BTC acquisition history chart — a move his followers have come to read as a near-certain signal of an imminent buy. Featured image from MetaAI, chart from TradingView