TLDR
- Strategy paused Bitcoin purchases before its May 5 Q1 earnings report.
- The company raised $82M by selling 492,210 Class A shares.
- Strategy’s Bitcoin holdings remain unchanged at 818,334 BTC.
- Its BTC stack was acquired at an average price of $75,537.
- Strategy still holds about 3.9% of Bitcoin’s total 21M supply.
Strategy, formerly known as MicroStrategy, paused its weekly Bitcoin purchases while raising $82 million through common stock sales, according to a recent SEC filing.
The company sold 492,210 Class A shares between April 27 and May 3, 2026, through its at-the-market equity program. The proceeds were not used for a Bitcoin purchase during the week, leaving Strategy’s holdings unchanged at 818,334 BTC.
Executive Chairman Michael Saylor confirmed the pause on X, writing that there were “no buys this week” and that the company would return to work the following week. The pause came shortly before Strategy’s first-quarter earnings report scheduled for May 5.
Strategy remains the largest public corporate holder of Bitcoin by a wide margin. Its current holdings represent about 3.9% of Bitcoin’s fixed 21 million supply.
Strategy Keeps Bitcoin Holdings at 818,334 BTC
Strategy’s 818,334 BTC were acquired at an aggregate cost of about $61.81 billion, with an average purchase price of roughly $75,537 per Bitcoin.
At current market prices cited in the filing period, the company’s Bitcoin stack was valued near $64.5 billion, leaving it with about $2.7 billion in unrealized gains.
The pause follows a late-April purchase of 3,273 BTC for about $255 million at an average price near $77,906 per coin. That acquisition extended Strategy’s position before the company stopped buying during the most recent reporting week.
The company still has about $26.4 billion available for future Class A common stock issuance under its existing program, giving it capacity to raise more capital if management resumes Bitcoin purchases.
Equity Sale Comes Before Q1 Results
The $82 million raise was completed through common stock sales rather than debt issuance. The move shows Strategy continued to strengthen liquidity while waiting to update investors on its quarterly results.
Analysts expect Strategy to report first-quarter revenue near $124.6 million, up about 12% from a year earlier. Loss estimates vary widely, with projected losses ranging from $3.41 to $18.98 per share.
The expected loss is tied partly to mark-to-market accounting rules for Bitcoin holdings. Investors are expected to focus on the company’s Bitcoin treasury strategy, capital-raising activity and guidance on future purchases.
Strategy also reported a cash reserve of about $2.2 billion, giving it flexibility during periods of Bitcoin volatility and equity-market movement.
Strategy Still Leads Corporate Bitcoin Treasuries
Despite the pause, Strategy remains far ahead of other public companies holding Bitcoin. Its 818,334 BTC position is roughly 15 to 20 times larger than the holdings of its closest corporate peers.
The company has made Bitcoin the core of its corporate treasury strategy since 2020. Under Saylor’s leadership, it has used equity, debt and preferred stock structures to fund purchases over several years.
The latest pause does not change its position as the largest corporate Bitcoin holder. It does, however, show that the company may adjust weekly buying activity based on market conditions, earnings timing and capital availability.
Strategy’s next update will likely come alongside its Q1 earnings. Investors will be watching whether the firm resumes Bitcoin purchases after the report and how management explains its balance between equity issuance, cash reserves and Bitcoin accumulation.
