Capital raising has slowed as the company’s stock hit a 52-week low of $149, while its preferred stock (STRC) traded below its $100 par value.
Strategy (MSTR) executive Chairman Michael Saylor just pointed to another Bitcoin (BTC) purchase, adding more BTC to its already large holdings, even as pressure on its own share price makes it harder to raise fresh capital.
The latest hint came on Sunday, when Saylor posted “More Orange” on X, his now-familiar code that Strategy has added to its Bitcoin stack and that usually precedes a formal disclosure early in the week.
As Crypto News Australia reported, Strategy added over US$2.1 billion (AU$3.02 billion) in Bitcoin to its balance sheet. At that level, the firm controls about 3.37% of Bitcoin’s fixed 21 million-coin cap and roughly 3.55% of the estimated 19.98 million BTC already mined.
That concentration cements Strategy as the largest publicly traded bitcoin holder and a key bellwether for corporate treasury appetite toward the asset.
New BTC Purchase Despite Funding Squeeze
Saylor’s latest teaser comes after a weak week for Strategy’s own securities. The company’s common stock dropped 6%, closing below US$150 (AU$230) per share, a level that can make it harder to raise fresh funds through at-the-market share sales.
Stretch (STRC), Strategy’s perpetual preferred stock, also traded under its US$100 (AU$153) par value throughout the week. Because the company’s ATM program for that instrument requires pricing at or above par, the discount effectively shut off that funding channel. Strategy recently increased the dividend on Stretch in an effort to push the price back up.
Even with tighter access to equity capital, Strategy has remained committed to accumulating Bitcoin following a mid-2025 rally that some market participants later described as overheated.
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